MEXC releases August proof-of-reserves report, maintains excess collateral

Global cryptocurrency exchange MEXC has released its August Proof of Reserves report, which was audited by blockchain security firm Hacken. The report showed reserve ratios of 288% for Bitcoin (BTC), 115% for Tether (USDT), 114% for USDC, and 113% for Ethereum (ETH) in August. It also indicated all major cryptocurrencies remained fully overcollateralized, with reserve levels above the industry-standard 1:1 benchmark.