According to BitMEX Research, there is a query regarding whether Ethena Labs' $1.3 billion exposure to ByBit, predominantly managed through 'off exchange custody solutions' like Copper Clearloop, is included in ByBit's published Reserve Ratios. This information is crucial for traders evaluating ByBit's financial health and risk management practices. Understanding the inclusion or exclusion of such significant funds in reserve calculations could impact trading strategies and risk assessments.