Liquid Reserve Gap Falls to 250 BTC After 300 BTC Top-Up

Liquid Network's reserve gap narrowed to 250 BTC after a 300 BTC top-up, lifting estimated L-BTC backing to 94.14%, though full reserves are still required before the federation resumes direct peg-outs. The shortfall stems from the 2024 exploit that drained roughly 15% of the network's Bitcoin reserves, leaving peg-outs suspended and forcing users to route withdrawals through alternative channels. The recovery plan, overseen by the Liquid Federation's functionaries, requires restoring the full 1:1 backing before normal peg-out operations restart, meaning the remaining 250 BTC gap—roughly $16-17 million at current prices—must be closed first. In the interim, L-BTC has traded at a discount to native BTC on secondary markets, with volumes concentrated on exchanges that still support the asset. Watch for further top-ups from the federation's treasury and any timeline for peg-out resumption, which would signal restored confidence in the wrapped-BTC asset.