OKX Publishes 17Th Consecutive Proof Of Reserves, Highlighting USD22.1 Billion In Primary Assets
Date
4/24/2024 9:01:56 AM
(MENAFN- B2Press) Dubai, the UAE,
-- OKX, a leading global Web3 technology company and crypto exchange, today announced the release of its latest Proof of Reserves (PoR) report, showcasing a total of USD22.1 billion in primary assets backing user funds.
This marks the 17th consecutive month of the exchange's Proof of Reserves (PoR) reports, which highlight the reserve ratios of the 22 most frequently traded assets on OKX: BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, UNI and BCH. As with its previous reports, OKX's 17th PoR reveals reserve ratios of over 100% for all of these assets, ensuring that user funds are backed 1:1.
The current reserve ratios for OKX's primary assets are as follows:. BTC: 102%. ETH: 104%. USDT: 106%. USDC: 110%
OKX Global Chief Commercial Officer Lennix Lai said: "Our 17th consecutive PoR reinforces our commitment to trust-building and transparency in the crypto ecosystem. As global crypto adoption accelerates, we believe mechanisms like PoR, which aim to enhance security and transparency, will play a critical role in onboarding the next wave of users. At OKX, we remain dedicated to providing users with trustworthy tools to navigate the new financial landscape confidently."
Since the inception of its program, OKX has introduced various updates and improvements to its PoR based on user feedback, garnering the highest quality rating among major exchanges by blockchain expert Nic Carter. 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 and interact with OKX's PoR here.
For further information, please contact:[email protected]
Contact: Tülay Genç | [email protected] | +31 30 799 6022
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