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Bitget shares Merkle Tree Proof of Reserves to Enhance Transparency

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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.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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MTN Nigeria Rewards 1,500+ Winners with ₦290m in Mega Billion Promo

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L-R: Deji Roberts, Assistant Director, Nigerian Communications Commission, Lagos Zonal Office; Ugonwa Nwoye, Chief Customer Relations and Experience Officer, MTN Nigeria; Femi Yusuf, 10 Million MTN Mega Billion Promo Jackpot Winner; Efe Kwado, MTN Mega Billion Promo Winner; Onyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria and Samuel Rowland, Chief Operations Officer, Lagos State Lotteries and Gaming Authority at the MTN Mega Billion Promo Media Parley held on Saturday, July 19, 2025 at the MTN Rooftop Events Centre Plaza, Ikoyi.
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Telecoms giant, MTN Nigeria, has announced the disbursement of over ₦290 million to more than 1,500 winners in its ongoing Mega Billion Promo.

L-R: Deji Roberts, Assistant Director, Nigerian Communications Commission, Lagos Zonal Office; Ugonwa Nwoye, Chief Customer Relations and Experience Officer, MTN Nigeria; Femi Yusuf, 10 Million MTN Mega Billion Promo Jackpot Winner; Efe Kwado, MTN Mega Billion Promo Winner; Onyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria and Samuel Rowland, Chief Operations Officer, Lagos State Lotteries and Gaming Authority at the MTN Mega Billion Promo Media Parley held on Saturday, July 19, 2025 at the MTN Rooftop Events Centre Plaza, Ikoyi.

The update was shared during a live event held on July 19 at the company’s Rooftop Events Centre in Lagos. Representatives from the Nigerian Communications Commission (NCC), the Lagos State Lotteries and Gaming Authority, MTN executives, journalists and selected promo winners were in attendance.

Speaking at the event, Onyinye Ikenna-Emeka, MTN’s Chief Marketing Officer, stated that the initiative was launched to support loyal customers during difficult times. “In the last couple of years, it’s been a tough time for the average Nigerian. This promo is one of our ways of making life better for our customers,” she said.

Ikenna-Emeka revealed that the promo has produced over 1,500 winners, including three jackpot winners, 20 winners of ₦5 million each, and more than 100 winners of ₦100,000. She added that the company remains committed to rewarding customers transparently.

One of the jackpot winners, Femi Yusuf, who won ₦10 million, shared his excitement. “I thought it was one of those promos where nothing comes out of it. My wife was the one who spotted my number during the live draw,” he said. When asked about the delivery of his prize, he replied, “Fast and fast. MTN, no scam.”

The event also featured live calls to new winners, including a woman identified as Motunrayo, who won ₦2 million. She expressed joy over the unexpected win, saying, “I’m so grateful. Thanks so much.”

Debo Agun, Senior Manager, Consumer Segment (Mass Market), explained the mechanics of the promo. He said participation is free and open to MTN subscribers who dial *900# to opt in. Airtime purchases serve as entries—₦100 worth of airtime equals one entry, and customers can win multiple times.

Agun stated that 63 winners are selected daily from Monday to Friday, while Saturdays feature 104 winners, including a ₦10 million jackpot. Other prizes range from ₦25,000 to ₦2 million and are paid into customers’ MoMo wallets. Those without wallets can create one by dialing *671#.

Promo draws are conducted and streamed live on MTN’s Instagram, YouTube, and Facebook channels. Independent partners oversee the process to maintain credibility and fairness.

The promo began on June 23 and runs for 90 days.


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MENXTT Tech NG Debuts USA-Spec Devices and Redefines IT Retail in Nigeria

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MENXTT Technology NG has introduced a fresh lineup of USA-specification smartphones alongside its existing range of laptops, accessories, and software tools in a major move to redefine tech quality and customer satisfaction in Nigeria.

The firm, which operates as a fully online IT service provider, is focused on bridging the gap between businesses and customers by offering seamless tech procurement, deployment, and after-sales support.

According to Anthony Emeka Nwosu, Director of Communication and Customer Retention, the company is committed to restoring consumer trust in tech purchases through guaranteed quality, extended warranties, and structured support.

Nwosu stated that the decision to supply USA-grade devices was borne out of frustration with substandard options in the market and zero accountability.

He said MENXTT was built to be responsive, dependable, and quality-driven, assuring customers that they would not be left alone after purchase.

With services covering laptops, accessories, website development, software deployment, and IT support, MENXTT promises to take technology directly to the client with less stress.

The company, located at 8a Oje Imeviani Street, Julie Estate, Oregun, Ikeja, Lagos, is also noted for its tech-enabled structure that allows users to access solutions from anywhere in Nigeria through its online platform.

Customers can reach MENXTT Technology NG via email: info@menxtt.com.ng or website: menxtt.ng.


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MTN, MTV Base Launch “Room of Safety” Series to Promote Online Child Safety

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Telecoms giant MTN Group has partnered with MTV Base to launch the Room of Safety campaign, a youth-led movement aimed at raising awareness on internet safety and digital wellbeing for children and young people across Africa.

The initiative, a major part of MTN’s Help Children Be Children campaign, seeks to address growing concerns around cyberbullying, grooming, misinformation, and other forms of online harm. Through this collaboration, MTN will leverage MTV Base’s extensive reach across youth audiences to drive impactful change.

Central to the campaign is the premiere of a 10-part short-form docu-series titled Room of Safety, which kicks off on July 20, 2025, at 16:00 on MTV Base (DStv channel 322). Episodes will also stream on MTV Base South’s digital platforms including Instagram, YouTube, and TikTok.

Each episode will feature real-life stories, expert interviews, and practical resources to help young viewers identify digital threats and take proactive steps. The series also encourages youth to speak up about negative experiences online and shows them how to report abuse.

A statement from MTN Group emphasized the importance of equipping young Africans with the knowledge and confidence to navigate digital spaces safely, adding that the campaign aims to normalize conversations around digital ethics and mental health within families, schools and peer groups.

The launch is backed by social media engagement and outreach activities targeted at schools, creators, and community organizations across multiple African countries.


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