Hong Kong, July 26th, 2023, Chainwire — OKX, a leading crypto exchange by trading volume and Web3 technology company, has published its industry-best ninth consecutive monthly Proof of Reserves (PoR), showing a balance of USD$11.3 billion in BTC, ETH and USDT.
OKX’s PoR covers 22 commonly used digital assets and demonstrates that OKX has maintained a reserve ratio exceeding 100% for nine consecutive months across all those assets. In addition to BTC, ETH and USDT, the assets included in OKX’s PoR are: USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX and UNI.
OKX stores the majority of its reserves in highly secure off-chain cold storage. It has seen hundreds of thousands of users engage with its PoR, visit its PoR page and view their self-audits since first launching its PoR page in late 2022.
OKX’s current reserve ratios are as follows:
- BTC: 103%
- ETH: 103%
- USDT: 103%
OKX Global Chief Commercial Officer Lennix Lai said: “Public-facing disclosures of both reserves and liabilities are essential to ensure long-term accountability in our industry. However, point-in-time attestations of reserve holdings mean little—instead, sustained and consistent disclosures are needed. As the industry leader when it comes to monthly PoR reporting, with more consecutive monthly snapshots than any other top exchange, our commitment to transparency is unwavering.”
OKX will continue to publish its monthly PoR while providing a self-audit tool to all users. The open-source verification tool enables users to independently verify OKX’s solvency and confirm their assets are backed by OKX reserves while maintaining their privacy.
OKX has published over 210,000 addresses for its PoR program, and will continue to allow the public to view its asset flows.
Users can view the latest PoR report, reserve ratios, and verify OKX’s solvency here.
For further information, please contact: media@okx.com
About OKX
OKX is a leading global crypto exchange and Web3 ecosystem. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.
Beyond OKX’s exchange, the OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Crypto Events. Every investment and trading move involves risk – this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.
