Huobi HTX Updates March Merkle Tree Proof of Reserves, 100% Fully Securing User Asset Safety
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Huobi HTX Updates March Merkle Tree Proof of Reserves, 100% Fully Securing User Asset Safety
Huobi HTX has updated its March 2024 Merkle tree proof of assets, with reserve ratios maintained above 100%.
Navigating Web3 tides with focused insightsThe market momentum of 2024 has arrived with full force. For Huobi HTX, security remains a key focus in 2024.
As one of the earliest exchanges in the industry to implement Proof of Reserves (PoR), Huobi HTX has been conducting monthly Merkle tree reserve audits since the end of 2022 and publicly disclosing the results, ensuring users can deposit and withdraw assets securely and fully at any time.
Huobi HTX Updates Merkle Tree Proof of Assets for March 2024, Maintaining Reserve Ratios Above 100%
Huobi HTX has now updated its Merkle Tree Proof of Reserves for March 2024. Users can view the audit report on the official Huobi HTX website under the Asset Audit page. Huobi HTX is committed to creating a more secure and privacy-preserving digital asset trading environment. The specific reserve ratios and wallet holdings are as follows:
*Screenshot from Huobi HTX's official asset page
USDT reserve ratio: 100% (Huobi assets: 611,895,890)
BTC reserve ratio: 101% (Huobi assets: 26,196)
ETH reserve ratio: 102% (Huobi assets: 112,481)
TRX reserve ratio: 103% (Huobi assets: 9,717,203,329)
Data for USDT and ETH already includes stUSDT, USDT-T-Bills assets, BETH, and stETH.
According to the latest audit results from March 1, 2024, Huobi HTX’s current platform asset reserve ratios all exceed 100%. Moving forward, Huobi HTX will continue to regularly disclose monthly proof of reserves data to the public, demonstrating its solvency while placing greater emphasis on user privacy and information security.
Proof of Reserves (PoR), similar to Proof of Work, is a consensus mechanism. Under this mechanism, users or third parties execute PoR to verify that assets truly exist. Thus, PoR provides detailed data about where customer assets are held and assures customers that their funds remain in their accounts and have not been lent out.
According to official announcements, from the end of 2022 until today, Huobi HTX has consistently updated its Merkle Tree Proof of Assets data on the first day of each month, ensuring users can securely deposit and withdraw assets anytime, anywhere.
In 2024, Huobi HTX Will Apply Stricter Financial Standards to Permanently Safeguard User Asset Security
As a leading global cryptocurrency exchange, Huobi HTX places paramount importance on ensuring users trust that their funds are safe and fully redeemable. Therefore, Huobi HTX has institutionalized the regular disclosure of Proof of Reserves (PoR) data—an approach widely recognized as an effective method to boost investor confidence.
Looking back at 2023, Huobi HTX recorded nearly $1.3 trillion in total annual trading volume. The platform has accumulated over 46 million registered users, including 5 million new users added in 2023 alone, with nearly 5.43 billion visits across both platforms.
On asset security, Huobi HTX maintained a reserve ratio above 100% throughout 2023. In addition to monthly disclosures showing reserve ratios exceeding 100%, Huobi HTX is also among the few exchanges to achieve open-source verification via Merkle trees, wallet address ownership verification, and on-chain asset verification. In 2024, Huobi HTX will apply even stricter financial standards to ensure long-term protection of user assets.
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