Ali ImranAPIA, Samoa, July 1, 2026 — Phemex, a user-first crypto exchange, has released its July 2026 Proof of Reserves update, confirming that user liabilities remained fully backed across all covered currencies. The report recorded a 127.77% average reserve ratio across BTC, ETH, USDT and SOL, with each currency remaining above the 100% threshold.
According to the July 2026 Proof of Reserves update, Phemex reported the following reserve ratios:
- BTC: 24%
- ETH: 50%
- USDT: 81%
- SOL: 54%
The July report gives users a clear, verifiable view of how platform-held reserves compare with reported balances across some of the most actively used currencies in the crypto market. As traders increasingly assess exchanges through a broader lens of liquidity, reliability, product access, and reserve visibility, Proof of Reserves has become an important transparency mechanism for centralized platforms.
Phemex’ s Proof of Reserves framework uses Merkle tree-based verification, allowing users to confirm that their balances are included in the platform’ s reported liabilities while keeping individual account details private.
Federico Variola, CEO of Phemex, commented: “Proof of Reserves should be more than a number published once a month. It should help users understand the strength of the platform they are trading on. At Phemex, we see reserve transparency as part of the user experience: clear, repeatable and verifiable. Our July update shows full backing across the covered currencies and reflects the standard we want users to expect from us every month.”
The July Proof of Reserves update reflects Phemex’ s broader approach to building user confidence through transparent infrastructure, reliable market access, and consistent visibility into platform reserves. For Phemex, reserve reporting is not a standalone disclosure, but part of the trust layer behind the trading experience, helping users better understand how their assets are supported as they access opportunities across crypto markets.
Phemex continues to strengthen its platform through ongoing investments in security, product access, and user experience, while maintaining transparency as a core part of its operating approach.
About Phemex
Founded in 2019, Phemex is a user-first crypto exchange trusted by over 10 million traders worldwide. The platform offers spot and derivatives trading, copy trading, and wealth management products designed to prioritize user experience, transparency, and innovation. With a forward-thinking approach and a commitment to user empowerment, Phemex delivers reliable tools, inclusive access, and evolving opportunities for traders at every level to grow and succeed.
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For more information, please visit: https://phemex.com/
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