Phemex April 2026 Proof of Reserves: 131% Backing

Phemex has published its April 2026 Proof of Reserves (PoR), reporting a total reserve ratio of 131% and confirming that user balances are fully backed across major assets.

The report shows overcollateralization for key cryptocurrencies: BTC at 133.11%, ETH at 141.61%, USDT at 103.61%, and SOL at 155.62%. Each listed asset exceeds a 100% reserve ratio, indicating liabilities are covered and funds remain accessible to users.

Phemex’s PoR employs a Merkle tree–based verification model that lets users independently confirm their inclusion in the exchange's liabilities while preserving account privacy and data integrity. This cryptographic approach enables transparent, verifiable audits without exposing individual account details.

Federico Variola, Phemex CEO, said the company’s user-first approach means giving traders clear visibility into how assets are held and managed. Publishing PoR on a regular basis, he noted, embeds transparency into operations rather than treating it as a one-time check, and helps users trade and manage funds with greater confidence.

By releasing PoR monthly, Phemex aims to provide a verifiable view of platform solvency and reinforce accountability within the digital asset ecosystem. The exchange says it continues to invest in infrastructure, system stability, and user experience so traders can execute trades, manage assets, and access funds smoothly.

About Phemex
Founded in 2019, Phemex is a crypto exchange used by more than 10 million traders worldwide. The platform offers spot and derivatives trading, copy trading, and wealth management products, with a focus on user experience, transparency, and innovation.

For more information, visit: https://phemex.com/