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Bitget shares Merkle Tree Proof of Reserves to Enhance Transparency
Bitget, leading global cryptocurrency exchange, announces that it is launching its Proof of Reserves Page, which will demonstrate to users that we are a full-reserve exchange, as supported by its Proof of Reserves (“PoR”), using the cryptographic-audited Merkle tree method, and that users’ assets stored on the platform are safeguarded.
The Proof of Reserves page provides users with a wealth of information on the topic, including several core elements such as “Merkle Validator”, the monthly snapshots presenting the balance of the reserve pools, user education on Proof of Reserves and the importance of being fully reserved, as well as how the Merkle tree supports and proves the authenticity and consistency of the data presented by Bitget.
Snapshots of reserve wallets on the platform and the user’s assets serve as reassuring evidence and demonstrate that their assets are held at least at a 1:1 ratio.
To further enhance transparency and ensure the accuracy of the information on the page, Bitget is also launching a new tool, “Merkle Validator”, for users to perform self-audit with their own accounts. The feature allows users to verify the security of their funds in a few simple steps. Users are able to verify the status of their assets’ “Merkle leaf” under the Merkle tree data structure. Bitget is also committed to carrying out regular audits of the PoRs to make sure the balances and the status of user assets within its reserves stay up to date.
Gracy Chen, Managing Director of Bitget, comments, “Bitget actively responds to the market concerns, and even before FTX filed for bankruptcy, on Nov 9th, we had already promised to publish our Merkle tree Proof-of-Reserves within a month’s time. Today, we are proud to fulfil our promise.
“The release of the Proof of Reserves and the Merkle tree data equips users with updated and informational insights on the financial status of Bitget and enhanced control on their assets stored on the platform, which is echoed in our commitment of maximum transparency and top-notch protection policies for users.”
“The crypto industry is under close scrutiny after the scandals and collapses of some giant crypto firms. The desire of users to invest and store assets on a secure platform has seen its high, as Bitget has witnessed an increase in users recently. With the rollout of the Proof of Reserves page, Bitget not only demonstrates well-rounded protection for users, but also will continue to advocate more initiatives aiming to offer safe adoption of cryptocurrency worldwide and a sustainable and trustworthy environment in the crypto universe,” adds Gracy.
Aside from the POR release, Bitget has launched various initiatives to help rebuild the market’s confidence, such as launching the USD 5 million Builders Fund for users affected by the FTX incident, increasing the Protection Fund to USD 300 million, and most recently, investing 20 million in a series of campaigns with Lionel Messi.
What is Proof of Reserves?
Proof of Reserves refers to an auditing procedure that is verifiable through cryptographic proofs, checks of public wallet ownership, and recurring audits to certify the holdings of an exchange. The custodian provides transparency and proof of the existence of on-chain reserves and that the total amounts of those coins held and effectively at the disposal of the platform exceeds or is equal to the sum of all users’ holdings of those coins.
To achieve this, Bitget stores the hash of each user’s account assets in a leaf node on the Merkle tree. Each user can verify that their funds are included in the Merkle tree by checking the total amount of users’ assets stored in the Merkle tree leaf nodes. The open-source code of the platform’s proof of its 100% solvency program has also been published to GitHub.
Airtel Africa Foundation, through Airtel Nigeria, has marked International Volunteer Day 2025 by celebrating the impact of the Employee Volunteer Programme (EVP), a flagship initiative by which employees volunteer their time, expertise, and personal resources to advancing the Foundation’s mission across 14 African markets.
The celebration brought together volunteers at the Airtel Nigeria Headquarters in Lagos for moments of team bonding activities, testimonials, and volunteer spotlights. The event also served as a call to action, encouraging more employees to register for EVP activities and join the volunteer community.
The EVP has become a cornerstone of Airtel Africa Foundation’s community impact, empowering employees to drive local CSR initiatives and champion causes that promote education, digital skills, environmental responsibility, and youth empowerment. Through the programme, volunteers have contributed significantly to initiatives such as the International Day of Education Essay Competition, Teacher-for-a-Day sessions, beach clean-ups, market sensitisation exercises to reduce plastic waste, and the Airtel-3MTT NextGen Fellowship for young Nigerians.
Speaking about the celebration, Dinesh Balsingh, Airtel Nigeria Chief Executive Officer, said, “International Volunteer Day reminds us that real impact begins with people who are willing to show up and serve. Today we honour the incredible dedication of Airtel employees, whose selfless commitment of time and talent is the engine behind our progress. Their contribution is the backbone of our work and the reason we continue to transform communities across Africa.”
Over the years, the EVP in Nigeria has delivered tangible outcomes through numerous impactful initiatives such as financial donations to the Lagos State Government COVID-19 control efforts. In 2025 alone, volunteers have contributed more than 200 hours of service, reaching over 100,000 beneficiaries.
Commenting on the commitment of Airtel Nigeria’s employees, Femi Adeniran, Director, Corporate Communications & CSR, said, “Volunteering is at the heart of who we are. Behind every empowered learner, every restored environment, and every connected community is an individual who believed in making a difference, and we are thankful for your participation. Our mission remains clear: to use technology, resources, and our collective humanity to build a digitally inclusive, socially responsible, and sustainable Africa.”
International Volunteer Day provides a global moment to honour volunteers whose contributions often go unseen but deliver lasting impact. As its EVP continues to grow, Airtel Africa Foundation remains committed to expanding access to education, digital literacy, environmental care, and opportunities for underserved communities across the continent.
Nigerian creators have emerged dominant at the 2025 TikTok Awards for Sub-Saharan Africa, winning six of the ten categories at the ceremony held in Johannesburg, South Africa.
TikTok Sub-Saharan Africa Awards
The awards, themed “New Era, New Icons”, celebrated outstanding creativity across the continent, with Nigeria’s victories underscoring its growing influence in digital culture and entertainment.
Raja’atu Muhammed Ibrahim, known as @diaryofanortherncook, from Sokoto, won the prestigious Creator of the Year Award, recognised for her cinematic storytelling of Northern Nigerian cuisine. Abuja-based Brian Nwana (@briannwana) clinched Storyteller of the Year, while Izzi Boye (@izziboye) was named Education Creator of the Year.
Other Nigerian winners included Belove Olocha (@beloveolocha) for Entertainment Creator of the Year, Dejoke Ogunbiyi (@noositiwantiwa_) for Social Impact Creator of the Year, and Crown Uzama, popularly known as Shallipopi (@theycallmeshallipopipp), who took home Artist of the Year.
Shallipopi, whose hit track “Laho” dominated African soundwaves in 2025, thanked TikTok for supporting upcoming artists and providing a platform to shine. “When Nigeria creates, the world moves,” he told fans during his acceptance speech.
TikTok’s Head of Content Operations for Sub-Saharan Africa, Boniswa Sidwaba, praised the winners, noting that Nigerian creators had redefined what it means to be a digital storyteller. “Tonight’s ceremony was a gathering of trailblazers who turned short video clips into cultural movements,” she said.
Other winners from across the continent included Tanzania’s Fanuel John Masamaki (@zerobrainer0), who won Video of the Year, Kenya’s @tunero_animations as Rising Star of the Year, South Africa’s @malumfoodie for Food Creator of the Year, and Kenya’s @zozasportscast for Sports Creator of the Year.
The ceremony, supported by brands such as NIVEA, Coca-Cola, PEP, inDrive and Dis-Chem, will be broadcast exclusively on TikTok LIVE on Dec. 11 at 19:00 WAT via the @tiktok.africa account.
MTN Nigeria has announced the winners of the 2025 Nigeria PachiPanda Challenge, a national innovation programme delivered in partnership with Worldwide Fund for Nature (WWF) through its local partner, the Nigerian Conservation Foundation (NCF), and the United Nations Development Programme (UNDP) Nigeria.
L – R: Promise Ogochukwu, OneGrid Energies; Emmanuel Ezea, OneGrid Energies, Lantana Elhassan, Head of Exploration, Accelerator Lab, UNDP Nigeria; Valentine Nnamani, OneGrid Energies; trio winner of the MTN 2025 Pachipanda Challenge, held at MTN RoofTop Plaza, Ikoyi.
The competition attracted over 2000 applications from young innovators across the country and concluded with a 3-day sprint event that featured masterclasses and pitch presentations at the MTN Rooftop Event Centre, Falomo, Ikoyi, Lagos. Ten finalists, comprising seven individuals and three teams, competed for top honours following a rigorous multi-stage screening process.
Team OneGrid Energies emerged overall winner for its solution that addresses energy access in underserved communities. The team of Emmanuel Ezea, Ogochukwu Ogene, and Valentine Nnamani upcycle plastic bottles and e-waste lithium ion batteries to create affordable lanterns for households without reliable electricity. The team also introduced smart solar-powered charging stations operated by rural women, creating economic opportunities and supporting environmental impact.
Joshua Ndaman secured second place with his innovative solution, BuyScrap, a tech-driven platform that streamlines the collection and recycling of electronic waste. By ensuring that discarded electronics are ethically reused and repurposed, BuyScrap supports a circular economy and provides a reliable link between households and processors in the e-waste value chain.
Divine Peter secured third place with HopeForge Engineering, an initiative that designs and produces affordable recycling equipment for green businesses using recyclable materials. His focus on automating traditional manual equipment aims to increase productivity and make sustainable tools more accessible for small and medium-sized enterpriOlayinkases.
The winners received ₦3,000,000, ₦2,000,000, and ₦1,500,000 respectively. They will now represent Nigeria at the Africa PachiPanda Challenge where they will compete against champions from across the continent.
Tobe Okigbo, Chief Corporate Services and Sustainability Officer at MTN Nigeria, emphasised the importance of youth-led innovation in advancing climate action and community resilience. “Innovation should go beyond solving problems; it should be bankable and sustainable, ensuring long-term value for both society and the innovators themselves,” he noted.
Dr. Joseph Onoja, Director-General of NCF, praised the creativity of the finalists, stating, “Every finalist here is a winner, and we will continue to work with partners like MTN, UNDP, and WWF to nurture these ideas and build a better future for Nigeria.”
Representing UNDP Nigeria, Lantana Elhassan, Head of Exploration, Accelerator Lab, described the potential of the finalists’ solutions to inspire systemic change across Africa’s innovation landscape. She highlighted the role of tech tools in helping participants improve their prototypes and scale their solutions.
During the event week, finalists received tailored training through masterclass sessions that enhance their business skills and strengthened their solutions. Facilitators included Bankole Oloruntoba, CEO, Nigeria Climate Innovation Centre (NCIC); Chinwe Udo-Davis, Founder & CEO, Instollar; Nifemi Oluboyede, Chief Product Officer, Credit Direct; and Uche Aniche, Founder, Rebel Seed Capital & Convener, Startup South.
Judges comprised experts in sustainability and innovation including Dr. Tiwalade Adeniyi, Head of ESG, Solon; Dr. William Tsuma, Chief Innovation Officer, UNDP Nigeria; Maximus Ugwuoke, Country Director, Carbon Craft Africa; Peju Ibekwe, CEO, Sterling One Foundation; Temitope Okunnu, Founder, Fabe International; and Yewande Adeyi, Senior Manager, ESG Advisory Services, KPMG West Africa.
The Africa-wide finals will bring together leading innovators from across the continent to showcase their work to industry experts and investors.
For more information and updates on the winners’ journey, visit https://www.mtn.ng/sustainability or contact [email protected]
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