Exchange Reserves Transparency: USDT Assets Surge by 150%, Ranking First in Market Share

【ChainNews】Recently, a major mainstream exchange published its reserve transparency report for 2025. The report has many highlights — it has been consistently releasing Merkle Tree Proof of Reserves (PoR) for 38 consecutive months, the core asset reserve ratio has always maintained above 100%, and all historical data can be verified on-chain, which is considered a standard practice in the industry.

On the data side, it’s even more interesting. Users’ USDT holdings skyrocketed from approximately 695 million at the beginning of the year to about 1.765 billion by the end of the year, an increase of 150% — this indicates a significant rise in the platform’s attractiveness for stablecoin assets. In comparison, BTC user holdings remained relatively stable, with no major fluctuations.

How is the market performance? According to data, by November, the platform’s market share increased by 2.06%, ranking first among mainstream centralized exchanges. This achievement reflects the platform’s competitiveness in a highly competitive market.

It’s worth noting that the platform is also continuously expanding the scope of asset transparency coverage. Newly included assets under PoR coverage include WLFI and USDC, meaning users can verify more types of assets. From a certain perspective, this gradual expansion of transparency reflects the platform’s emphasis on building user trust.