OKX has published its ninth monthly Proof-of-Reserve (PoR) report, showcasing a sustained asset holding of $11.3 billion. The report highlighted a diversified portfolio comprising Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), with each currency maintaining an impressive reserve ratio of 103%.
This consistent commitment to upholding a reserve ratio exceeding 100% for nine consecutive months across all three assets underscores OKX’s dedication to financial security. Its latest report and the previous report in June 2023 demonstrated minimal variance. The exchange reported a total balance of $11.3 billion across BTC, ETH, and USDT and individual reserve ratios of 103% for each token in both months.
Beyond BTC, ETH, and USDT, OKX’s PoR enables the public to verify a selection of 22 frequently utilized digital assets. The list includes well-known tokens such as USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI.
The exchange prioritizes maximum security for users’ digital assets; it stores most of its reserves in off-chain cold storage. This approach guarantees the safety of cryptocurrencies and provides peace of mind to OKX users.
OKX’s latest PoR report also stressed its commitment to maintaining transparency and user confidence. The exchange noted that it intends to continue publishing the monthly Proof of Reserves (PoR) while offering a self-audit tool for all users.
Lennix Lai, OKX Global Chief Commercial Officer, emphasized that point-in-time attestations of reserve holdings carry little significance. Instead, he advocated for consistent and sustained disclosures.
Lai stated:
“Public-facing disclosures of both reserves and liabilities are essential to ensure long-term accountability in our industry.”
According to Lai, OKX surpasses all other top exchanges with its impressive track record of consecutive monthly snapshots, and its unwavering commitment to transparency sets them apart.
As part of its transparency efforts, OKX has already disclosed more than 210,000 addresses for its PoR program, and it will continue to allow the public to access information on its asset flows.
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