OKX Publishes Proof of Reserves with $11.3 Billion in BTC, ETH, and USDT

OKX Publishes Ninth Consecutive Monthly Proof of Reserves

OKX, a leading crypto exchange, has released its ninth consecutive monthly Proof of Reserves (PoR) report, demonstrating a balance of USD$11.3 billion in BTC, ETH, and USDT. The PoR covers 22 commonly used digital assets and shows that OKX has maintained a reserve ratio exceeding 100% for all those assets. Additionally, OKX stores the majority of its reserves in highly secure off-chain cold storage. The exchange has seen hundreds of thousands of users engage with its PoR since launching in 2022.

Key Points:

– OKX’s PoR includes 22 digital assets, such as BTC, ETH, USDT, XRP, DOGE, SOL, and more.
– The exchange has maintained a reserve ratio exceeding 100% for nine consecutive months.
– OKX stores the majority of its reserves in highly secure off-chain cold storage.
– The exchange has a commitment to transparency and provides a self-audit tool for users to verify its solvency.
– OKX has published over 210,000 addresses for its PoR program.

OKX Global Chief Commercial Officer, Lennix Lai, emphasized the importance of sustained and consistent disclosures of reserves and liabilities in the industry. OKX will continue to publish its monthly PoR and provide a self-audit tool for users to independently verify its solvency. The exchange is committed to transparency and security.

Hot Take

OKX’s ninth consecutive monthly Proof of Reserves report showcases the exchange’s commitment to transparency in the crypto industry. By maintaining a reserve ratio exceeding 100% for a variety of digital assets, OKX ensures the security of users’ funds. The publication of over 210,000 addresses for its PoR program further demonstrates OKX’s dedication to accountability. As the industry leader in monthly PoR reporting, OKX sets a high standard for other exchanges to follow.