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Tapbit announced updated Proof of Reserves figures, showing collateralization ratios of 2,341% for BTC and 125% for USDT, with user assets reportedly fully backed and verified by an independent Hacken audit and a $50 million insurance fund.
Tapbit has disclosed updated Proof of Reserves data, indicating collateralization ratios of 2,341% for Bitcoin (BTC) and 125% for Tether (USDT). According to information published on its platform, Tapbit states that it maintains a 1:1 reserve policy for all user funds, with asset backing independently audited by Hacken and supported by a $50 million insurance fund. The audit report is accessible to users and Tapbit reports that it will be updated regularly as part of its ongoing efforts to provide transparency and asset protection.
Tapbit is a cryptocurrency broker that enables clients to trade over 800 assets in spot and futures markets via a browser platform or a mobile app. The broker supports P2P exchanges, copy trading, and a passive income Earn service, with access to competitive trading fees and various deposit/withdrawal methods. Detailed information about Tapbit's features and services can be found in the broker profile on Traders Union.
For a look back at Tapbit’s ongoing trading competitions and incentive campaigns, see the previous Tapbit update on Traders Union, which highlighted weekly winners and the TradFi promotional event: previous Tapbit update on Traders Union.