Huobi HTX has updated its April Merkle Tree Proof of Reserves, ensuring 100% sufficient backing to safeguard user assets
TechFlow Selected TechFlow Selected
Huobi HTX has updated its April Merkle Tree Proof of Reserves, ensuring 100% sufficient backing to safeguard user assets
Huobi HTX has updated its Merkle Tree Proof of Assets for April 2024, with reserve ratios remaining above 100%.
Navigating Web3 tides with focused insightsAs one of the earliest exchanges in the industry to implement proof of reserves, Huobi HTX has conducted Merkle tree reserve audits 18 times to date, regularly disclosing results to the public and ensuring users can deposit and withdraw assets securely and in full at any time.
Huobi HTX Updates April 2024 Merkle Tree Proof of Assets, Maintaining Reserve Ratios Above 100%
According to Huobi HTX's website, the exchange updated its April Merkle Tree Proof of Reserves on April 1, 2024, at 00:00:00 (UTC+8). Users can view the audit report via the official Huobi HTX webpage under the Asset Audit section. Huobi HTX remains committed to creating a digital asset trading environment with enhanced security and user privacy. The specific reserve ratios and wallet holdings for this update are as follows:
*Screenshot from Huobi HTX’s official asset page
USDT 101% (Huobi assets: 672,272,311), BTC 100% (Huobi assets: 26,240), ETH 102% (Huobi assets: 108,754), HTX 103% (Huobi assets: 359,756,115,685,541), TRX 103% (Huobi assets: 9,750,131,703). USDT and ETH figures include stUSDT, USDT-T-Bills assets, BETH, and stETH.
According to the latest audit results as of April 1, 2024, Huobi HTX's current platform reserve ratios all exceed 100%. Going forward, Huobi HTX will continue to publish monthly proof of reserves results on schedule, demonstrating platform solvency while placing greater emphasis on user privacy and information security.
Adhering to Stricter Financial Standards, Huobi HTX Fully Protects User Asset 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 the actual existence of assets. Thus, PoR provides detailed data on where customer assets are held and assures customers that their assets remain in their accounts and have not been lent out.
According to official announcements, since the end of 2022, Huobi HTX has consistently released updated Merkle tree proof of assets data on the first day of each month, ensuring users can securely deposit and withdraw assets in full at any time.
As a globally leading cryptocurrency exchange, Huobi HTX treats user asset security as its lifeline. In all publicly disclosed Merkle tree proof of reserves reports, Huobi HTX has maintained reserve ratios above 100%. Beyond consistently exceeding a 100% reserve ratio each month, Huobi HTX is also an exchange that simultaneously enables open-source verification of the Merkle tree, wallet address ownership, and on-chain assets. In 2024, Huobi HTX will uphold even stricter financial standards to ensure long-term protection of user asset security.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
