OKX’s Proof of Reserves (PoR) includes 22 popular cryptocurrencies: BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI.
According to reports, OKX has maintained a reserve ratio exceeding 100% for 10 consecutive months across all assets. The current reserve amounts for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) on OKX are $10.4 billion.
The current reserve ratios of OKX are as follows: BTC: 102% ETH: 102% USDT: 103%
“The 10th consecutive PoR report coincides with a 38% increase in managed assets on OKX. This demonstrates OKX’s high focus on transparency. We conducted a community survey about the importance of PoR and transparency. The results show that the majority of respondents care about PoR and transparency. Meanwhile, the demand for monthly PoR and transparency is even higher.” Lennix Lai – Global Chief Commercial Officer of OKX
As of the time of writing, OKX is the 6th-largest digital asset trading platform by trading volume. It’s noteworthy that OKX has repeatedly proven its ability to carry out token withdrawals for customers without fear of insolvency. This has positioned it as one of the industry’s user-friendly platforms.
Furthermore, OKX operates outside of the United States, a position that grants the platform greater operational freedom in terms of token listing and protection from broader regulations that affect related companies.
It’s worth mentioning that the “Proof of Reserves” culture began with Binance last year when the derivative exchange FTX collapsed due to its co-founder and former CEO, Sam Bankman-Fried (SBF), co-mingling customer deposits.