BTCC, a leading cryptocurrency exchange, has reported a total reserve ratio of 132% for July, marking the fourth consecutive month with reserves significantly exceeding 100%. This metric, crucial for assessing an exchange's ability to cover customer withdrawals, underscores BTCC's financial health and commitment to user asset safety. Ethereum led the reserve ratios at 170%, with Bitcoin and other major cryptocurrencies also showing strong backing.
The exchange's use of Proof of Reserves (PoR) reports since April provides transparency, allowing users to verify their assets through cryptographic proof and audits. This practice is vital in an industry where exchanges like FTX and BlockFi have collapsed, causing substantial losses for customers. BTCC's approach, including the use of Merkle tree tools for asset verification, offers users peace of mind regarding the safety of their investments.
Alex Hung, BTCC's head of operations, attributed the exchange's strong performance to rising geopolitical tensions and new US tariff policies, which have increased safe-haven demand for cryptocurrencies. Bitcoin's historic breakthrough of the $120,000 milestone highlights the market's volatility, during which BTCC has maintained a robust financial position and continued growth.
Founded in 2011, BTCC boasts over 9.1 million registered users and a record of zero security incidents, a testament to its industry-leading security standards. With futures trading volume reaching $850 billion in the second quarter and reserve ratios consistently above 100%, BTCC demonstrates why it remains one of the most trusted and longest-serving cryptocurrency exchanges globally.
