WuBlockchain
Bybit's 40th proof-of-reserves report shows about 3.59 billion USDT in user holdings at its Sept. 23 snapshot, down 11.46% from Aug. 26. USDe holdings rose 62.41% to roughly 516 million over the same period.
Why it matters
The divergent stablecoin balances are the report's clearest change. BTC holdings edged up 0.24% to about 56,100 BTC, while ETH holdings rose 2.96% to 551,900 ETH.
Market impact
The figures show how user holdings on Bybit changed between snapshots, not why they changed. The decline in USDT is notable, but the report does not establish whether users withdrew funds or shifted into other assets.
Source: [Proof Of Reserve](https://www.bybit.com/app/user/proof-of-reserve)
Frequently asked questions
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Which dates does Bybit's 40th reserves report compare?
The report uses a Sept. 23 snapshot and compares user holdings with Aug. 26.
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How much USDT did users hold on Bybit at the Sept. 23 snapshot?
User USDT holdings stood at about 3.59 billion, down 11.46% from Aug. 26.
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How did USDe holdings change in Bybit's report?
User USDe holdings rose 62.41% to roughly 516 million.
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What happened to BTC and ETH holdings on Bybit?
BTC holdings rose 0.24% to about 56,100 BTC, while ETH holdings rose 2.96% to 551,900 ETH.
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Does the USDT decline establish that users withdrew funds from Bybit?
No. The snapshots show a change in user holdings but do not establish whether users withdrew USDT or shifted into other assets.
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