Bybit's 40th proof-of-reserves report shows BTC holdings up 0.24% and ETH up 2.96%, while USDT declined 11.46% and USDe surged 62.41%.
Macro & Markets ·
Bybit published its 40th proof-of-reserves report, capturing user asset holdings as of September 23. Bitcoin reserves totaled approximately 56,100 BTC, representing a 0.24% increase from the previous month, while Ethereum holdings reached 551,900 ETH, up 2.96% since late August.
Stablecoin positions showed divergent movement in the snapshot. USDT balances declined 11.46% to roughly 3.59 billion, while USDe experienced significant growth, surging 62.41% to approximately 516 million. The shift reflects changing patterns in user deposit composition across the exchange's reserve holdings.
The report provides a periodic window into Bybit's custodied assets but does not disclose which assets or market conditions drove the month-over-month changes, nor does it address whether the USDT decline relates to user withdrawals or reallocation to other stables.