Bitget said its Protection Fund averaged $351 million in July, holding above the $300 million floor the exchange set when it launched the reserve.
Bitcoin Holdings Back The Fund
The exchange reported a monthly high of $365.9 million on Jul. 21. The low came on Jul. 1, at $329.8 million. Bitget backs the fund with 5,500 Bitcoin (BTC), which traded between $59,968 and $66,521 during the month, according to the company.
The company said the reserve stayed roughly 17% above its original allocation through July. Bitget created the fund in 2022 to cover user assets during extreme market events, and it publishes the valuation on a regular schedule so traders can see what is available.
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Proof Of Reserves Comparison
"Market direction may change, but user protection shouldn't," said Gracy Chen, Bitget's CEO. She linked the regular publishing of reserve values to longer-term trust between the exchange and the people trading on it.
The fund runs alongside Bitget's Proof of Reserves, which the exchange says keeps holdings above user balances on major assets.
Digital asset markets fell broadly in June, then recovered through the first three weeks of July before easing at month-end, Bitget said. Because the reserve is denominated in Bitcoin rather than dollars, its headline value moves with the price of the asset behind it.
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