Bitget reports 131% reserve ratio days after $387.5M breach
- —Overall reserve ratio stands at 131% as of the September 29 snapshot
- —NEAR backed at 181%, XAUT at 172%, SOL at 157%, USDC at 154%
- —BTC at 142%, ETH at 110%, BNB at 104%; all 19 assets above 100%
- —September 24 breach totaled $387.5M; protection fund valued at $382–464M
Why it matters: The disclosure is meant to reassure users and counterparties about solvency after a major breach that triggered heavy withdrawals.
Source: Crypto Briefing