Only Exchange with Monthly PoR Since FTX’s Fall

After the
high-profile collapse of the cryptocurrency exchange FTX in November 2022, the
industry began looking for solutions to assure investors that centralized
trading platforms are safe. This led to the idea of creating Proof of Reserves
(PoR) to show the current state of a given exchange’s capital reserves. OKX has
just published its tenth consecutive PoR report, showing $10.4 billion in
reserves in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

Proof of
Reserves is a mechanism that allows cryptocurrency exchanges to demonstrate
that they hold sufficient reserves to cover the digital assets owned by their
users. This is crucial for maintaining trust and security in an industry often
scrutinized for its lack of transparency. A consistent PoR assures users and
sets a precedent for other exchanges to follow, elevating industry standards.

OKX’s 10th
PoR showed balances of $10.4 billion in primary assets, including BTC, ETH and
USDT. This makes OKX the only major crypto exchange
Exchange

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term to release ten consecutive
monthly PoR reports to date. The report also revealed that OKX has maintained a
reserve ratio exceeding 100% for ten consecutive months across 22 commonly used
digital assets.