OKX Reserve Assets Increase by $800m since August

In a
continuous effort to uphold transparency within the cryptocurrency industry,
OKX has released its eleventh straight monthly Proof of Reserves (PoR) report.
The most recent disclosure reveals a significant holding of $11.2 billion,
primarily in assets like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

The PoR
report covers 22 commonly traded digital assets, including BTC, ETH and USDT.
OKX has consistently maintained a reserve ratio exceeding 100% for 11 straight
months across all these assets. The current reserve ratios for the three mentioned
tokens stand at 102%, 103%, and 102%, respectively.

Compared to
the results reported in August, the reserves increased by $800 million, rising
from $10.4 billion to $11.2 billion. However, when compared to July, they
slightly decreased, shrinking by $100 million. It’s important to note that
their value primarily depends on the prices of digital assets, which were
testing their yearly highs in July.

Gm. Time flies, and def flies faster in crypto.

Today we published our 11th #ProofofReserves where we show our reserves in ratio of total customer funds.

The saying goes.. “Don’t trust. Verify.”https://t.co/zOUEbqZIde

— Haider (@Haider) September 26, 2023

„We’ve seen
hundreds of thousands of users engage with our PoR, visit our PoR page and view
their self-audits since late 2022,” commented Haider Rafique, the Chief Marketing
Officer at OKX. “The open-source verification tool allows users to
independently verify our solvency and confirm their assets are backed by our
reserves while maintaining their privacy.”

In its
latest press release, the 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…