OKX exchange announces the monthly publication of proof of reserve reports

As of December 20, the reserve ratio in BTC, ETH, and USDT was 101%, 103%, and 101%, respectively

23.12.2022 - 14:30

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What’s new? Cryptocurrency exchange OKX has published its second Proof of Reserves (PoR) report, adding a feature to view the asset reserve ratio. According to the press release, the audit will be conducted monthly. As of December 20, OKX wallets held 113 754 bitcoins (~$1,86 billion) with a user balance of 112 192 BTC. Thus, the bitcoin reserve ratio is 101%.

OKX’s press release

What other data has been released? As for ETH reserves in OKX’s wallets, they amounted to 1 124 295 coins with a customer balance of 1 091 007. Ethereum’s reserve ratio is 103%.

The exchange’s reserves in Tether (USDT) stablecoins amount to 3,13 billion tokens and customer assets to 3,11 billion. USDT’s reserve ratio was 101%.

What is known about OKX? It is a centralized exchange (CEX) founded in 2013. It is headquartered in Seychelles. The platform offers 356 tokens and 648 trading pairs, fee-free conversion, as well as perpetual swaps, futures, and options. As of December 23, the daily trading volume is $650,8 million. The platform’s native token is OKT, which is trading at $25,24, having gained 1,8% in 24 hours, according to CoinGecko.

OKX launched the POR certificate in November. It can be used by any customer of the platform to check information about the availability of reserves and user funds on the exchange. On December 18, OKX’s deposit and withdrawal services were unavailable for several hours. The company attributed this to a hardware failure related to the cloud service provider.

Earlier, OKX announced compatibility with Ledger wallets. Users will be able to manage their cryptocurrencies on more than 40 blockchains and access decentralized exchanges (DEXs), NFT platforms, and decentralized applications (dApps) directly from their wallets.

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