MEXC Lists Bitcoin Reserve Coverage at 294% in October Update

MEXC's October proof-of-reserves disclosure puts Bitcoin (BTC) coverage at 294%, the highest of four listed assets, but leaves the balance snapshot date unspecified, limiting a direct comparison with September's figures. The report lists Tether (USDT) at 122%, USD Coin (USDC) at 115% and Ether (ETH) at 111%. All four ratios exceed 100%. Compared with the September report, BTC's ratio was down three percentage points, USDT's was up three points, USDC's was up four points and ETH's was unchanged. The September figures used a Sept. 10 snapshot. The Oct. 16 announcement does not state a cutoff date, so the releases do not establish matching measurement dates. MEXC's monthly process covers reported liabilities, wallet ownership and reserve calculations.

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