OKX reports USD 19.8 billion in reserves
OKX reports USD 19.8 billion in reserves
Crypto exchange OKX has released its 22nd Proof of Reserves (PoR) report, showcasing $19.8 billion in primary assets backing customer funds. This report reinforces the platform's commitment to transparency and security in the crypto space.
According to the report, OKX maintains over 100% reserve ratios across 22 key assets, including Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC), ensuring clients’ assets are fully backed.
The PoR page reveals specific reserve ratios for major assets: 105% for BTC, 101% for ETH, 105% for USDT, and 100% for USDC. These figures reflect the exchange's robust financial position and dedication to user trust.
OKX utilizes advanced Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology, allowing users to independently verify the exchange’s total asset holdings without compromising individual data privacy.
The PoR tool has gained significant traction, with over 1.8 million clients using it to confirm that their assets are backed on a 1:1 basis. OKX emphasizes its commitment to releasing these reports monthly, providing assurance to its users about the security and integrity of their funds.
In line with its commitment to transparency, OKX has also made the source code for its PoR tool available on GitHub, inviting feedback from the wider community. This open approach aims to refine the PoR process, integrating user feedback to enhance its reliability and effectiveness.
The latest PoR report not only demonstrates OKX's financial strength but also highlights its activities to set a standard for transparency in the cryptocurrency industry.
See also: New MacOS malware targets a wide range of popular crypto wallets
