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…
