Snapshot from Jul 19, 2026 at 14:14 UTC. For live data and tracking: View Live
Events / Business / Phemex June, July Proof of Reserves
Business reserve report

Phemex June, July Proof of Reserves

Analysis based on 7 articles · First reported Jun 02, 2026 · Last updated Jul 02, 2026

Sentiment
50
Attention
2
Articles
7
Market Impact
General
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Market Impact

The release of Phemex's Proof of Reserves reports for June and July 2026 positively impacts market sentiment towards Phemex and the broader cryptocurrency exchange industry by promoting transparency and user confidence. By demonstrating that user assets are fully backed, Phemex aims to mitigate concerns about liquidity and reliability, which could encourage more trading activity on its platform and potentially other transparent exchanges.

cryptocurrency
Event Summary

Phemex, a cryptocurrency exchange, released its monthly Proof of Reserves reports for June and July 2026. The July report confirmed an average reserve ratio of 127.77% across Bitcoin, Ethereum, Tether (cryptocurrency), and Solana, with all currencies exceeding the 100% threshold. The June report showed an average reserve ratio of 154.78% across eight supported assets, including Bitcoin, Ethereum, United States, Solana, Avalanche, Tether (cryptocurrency), XRP Ledger, and Sui, all fully backed. These reports utilize a Merkle tree-based verification process, allowing users to independently confirm their balances are included in the platform's reported liabilities while maintaining privacy. Federico Variola, CEO of Phemex, emphasized the importance of consistent, specific, and verifiable reserve transparency to build user confidence and ensure a trustworthy trading environment.

Key Actions
90 Phemex released report
Entities Involved
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Phemex
Phemex released its monthly Proof of Reserves reports for June and July 2026, demonstrating that user liabilities are fully backed across all covered cryptocurrencies, which aims to build user confidence and transparency.
Importance 100.0 Sentiment 50.0
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Federico Variola
Federico Variola, CEO of Phemex, commented on the importance of consistent and verifiable Proof of Reserves, emphasizing transparency as a core part of the user experience.
Importance 70.0 Sentiment 50.0
crypto
Tether (cryptocurrency)
Tether (cryptocurrency)'s reserve ratio was reported by Phemex as 104.81% in July, indicating that user liabilities for this stablecoin are fully backed.
Importance 60.0 Sentiment 0.0
crypto
Ethereum
Ethereum is another cryptocurrency included in Phemex's Proof of Reserves, with reserve ratios of 149.50% in July and 150.92% in June, confirming its full backing.
Importance 60.0 Sentiment 0.0
crypto
Solana
Solana's reserve ratio was reported by Phemex as 144.54% in July and 157.19% in June, confirming full backing for this cryptocurrency.
Importance 60.0 Sentiment 0.0
crypto
Bitcoin
Bitcoin is one of the cryptocurrencies for which Phemex reported its reserve ratio, showing 112.24% in July and 134.98% in June, indicating full backing.
Importance 60.0 Sentiment 0.0
crypto
Avalanche
Avalanche was part of Phemex's June Proof of Reserves, showing a reserve ratio of 163.33%, confirming full backing.
Importance 40.0 Sentiment 0.0
crypto
XRP Ledger
XRP Ledger's reserve ratio was reported by Phemex as 147.34% in June, confirming full backing for this cryptocurrency.
Importance 40.0 Sentiment 0.0
cnt
United States
The United States (USD) was included in Phemex's June Proof of Reserves report with a reserve ratio of 100.27%, indicating full backing for USD liabilities.
Importance 40.0 Sentiment 0.0
Relationships
Phemex related ↔ Federico Variola
Tether (cryptocurrency) related ↔ Ethereum
Tether (cryptocurrency) related ↔ Solana
Tether (cryptocurrency) related ↔ Bitcoin
Tether (cryptocurrency) related ↔ Avalanche
Tether (cryptocurrency) related ↔ XRP Ledger
Tether (cryptocurrency) related ↔ United States
Ethereum related ↔ Solana
Ethereum competitor ↔ Bitcoin Ethereum is the second-largest cryptocurrency by market capitalization, frequently tracking Bitcoin's price movements wh
Ethereum related ↔ Avalanche
Ethereum related ↔ XRP Ledger
Ethereum related ↔ United States
Solana related ↔ Bitcoin
Solana related ↔ Avalanche
Solana related ↔ XRP Ledger
+ 6 more relationships View on Dashboard
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