OKX, the second-largest crypto exchange by trading volume, has published its eighth consecutive monthly Proof of Reserves (PoR), revealing balances of USD$11.3 billion in BTC, ETH, and USDT. This PoR covers a total of 22 digital assets, including popular ones such as USDC, XRP, DOGE, SOL, and OKB.
One of the key highlights of OKX’s PoR is that the exchange has consistently maintained a reserve ratio exceeding 100% for eight consecutive months. This demonstrates the commitment to security and transparency, which are core tenets of OKX’s operating philosophy. The majority of the reserves are stored in off-chain cold storage, ensuring the highest level of security for users’ digital assets.
OKX’s current reserve ratios for BTC, ETH, and USDT are all at 103%. By providing regular PoR audits that users can independently verify, OKX aims to raise the overall standard of the digital asset industry and set new benchmarks for transparency and security.
To enhance transparency, OKX introduced Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology in April 2023. This technology enables users to independently verify OKX’s solvency while upholding their privacy. OKX has already published over 210,000 addresses for its PoR program, allowing the public to view its asset flows.
OKX will continue to publish its PoR on a monthly basis, ensuring ongoing transparency and security for its users. The exchange also offers a self-audit tool for users to confirm that their assets are backed by OKX reserves. Users can visit OKX’s PoR page to view the latest report, reserve ratios, and verify the exchange’s solvency.
OKX is the second-largest global crypto exchange by trading volume and a leading Web3 ecosystem. The platform is trusted by over 50 million users worldwide and is known for its speed and reliability. OKX is also involved in several partnerships, including collaborations with Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo.
Beyond trading, OKX offers the OKX Wallet, which allows users to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.