PhemexAugustProofof Reserves Report Confirms Full Asset Backing with 138.39% Average Reserve Ratio

APIA, Samoa, August 6, 2026 — Phemex, a user-first crypto exchange, has released its August
2026 Proof of Reserves (PoR) report, confirming that reserves remained above reported
customer balances across all eight assets covered by the latest snapshot.
The August report recorded an average reserve ratio of 138.39%, with every included asset
remaining above the 100% full-backing threshold. Among the major assets covered, Phemex
reported reserve ratios of 116.81%for BTC, 121.64%forETH, 103.19%for USD*, and
150.01% for SOL.

By publishing reserve coverage at the individual asset level, Phemex gives users greater visibility
into the relationship between the assets held by the exchange and corresponding customer
balances. A ratio above 100% indicates that the reserves held by Phemex exceed the customer
liabilities recorded for that asset at the time of the snapshot.

Federico Variola, CEO of Phemex, commented: “Proof of Reserves is most valuable when users
can independently review the figures and verify that their own balances have been included
through our Merkle tree-based verification system. Our August report continues that approach
by providing clear asset-level reserve data alongside a verification mechanism that users can
access directly. Maintaining reserves above customer liabilities across every reported asset
remains a fundamental part of how we approach transparency and platform accountability.”
The August disclosure forms part ofPhemex’ s ongoing Proof of Reserves program, through
which the exchange regularly publishes reserve information and makes relevant wallet holdings
available for public review. These disclosures complement Phemex’ s wider security
framework, which includes custody protections, operational controls, and systems designed to
support reliable access to customer assets.

*USD represents the combined value of USD-denominated balances included in Phemex’s Proof of Reservesreporting, including USDT and USDC.

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/