OKX's 16th Consecutive Proof of Reserves Report: USD17.7 Billion in Primary Assets

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OKX

26 Feb, 2024, 08:09 GMT

DUBAI, UAE, Feb. 26, 2024 /PRNewswire/ -- OKX, a leading global Web3 technology company and crypto exchange, today announced the release of its 16th consecutive Proof of Reserves (PoR) report, highlighting a total of USD17.7 billion and an average reserve ratio of 104% in primary assets.

OKX's PoR report provides a detailed overview of the reserve ratios of the most frequently traded assets on the platform: BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, UNI and BCH. OKX included Bitcoin Cash (BCH) in its PoR report for the first time in January 2024.

Reiterating the consistency of previous reports, OKX's 16th consecutive monthly PoR report reveals reserve ratios of over 100% for all of these assets, thereby ensuring that user funds are backed on a 1:1 basis.

The current reserve ratios for OKX's primary assets are as follows:

  • BTC: 103%
  • ETH: 104%
  • USDT: 105%
  • USDC: 104%

OKX Global Chief Commercial Officer Lennix Lai said: "As we navigate the dynamic crypto landscape, we want to make sure our dedication to transparency and ensuring the security of our users' assets continues to set us apart. Reaching the 16th iteration of our PoR report is a testament to our ongoing efforts to uphold these standards and fuels our drive to continually raise the bar."

Since the inception of the program, OKX has integrated various updates and improvements to its PoR based on user feedback. In 2023, OKX incorporated the Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology into its PoR process, a technology that enables users to independently verify the solvency of the exchange while ensuring the backing of their assets by the reserves, with no compromise on privacy.

Users can view OKX's latest PoR report, reserve ratios and verify the exchange's solvency here.

To learn more about OKX, download our app or visit: okx.com

For further information, please contact:
[email protected]

ENDS

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