L-BTC Backing: Check the Liquid Reserve Yourself

Every L-BTC in circulation is currently backed by roughly 0.047 Bitcoin held in the Liquid Federation's reserve. Measured directly on September 7, 2026 at 12:39 UTC against the network's two public endpoints: 197.47190204 BTC in reserve stand against 4,205.01883617 L-BTC issued. That works out to 4.70 percent backing and a shortfall of 4,007.55 Bitcoin, or roughly $319 million (274 million euros) at the CoinGecko price recorded in the same minute.

You do not have to take anyone's word for this figure. The Liquid Network publishes its reserve and its circulating supply through an open interface, each request takes seconds, and the division is simple arithmetic. How that works, what the number says about your holdings and what it explicitly does not say is set out below. We wrote up the incident itself separately on September 7: Liquid Network hack: $320 million in Bitcoin walked out. What follows is the check you can run yourself.

How Much Bitcoin Backs L-BTC Right Now? The Reserve in a Single Number

The Liquid Federation holds the Bitcoin that back the issued L-BTC in a jointly managed multisignature address. Before September 6, that balance stood above 4,200 BTC according to Bitcoin Magazine, roughly level with the circulating supply. After the peg-out on the afternoon of September 6, the endpoint still reports 197.47190204 BTC, last updated at Bitcoin block 965,928.