• OKX has reported its Proof-of-Reserves (PoR) for the first time, revealing $7.5 billion in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
• OKX reserves are 100% clean, meaning that the exchange reserves do not contain the exchange’s native token, according to CryptoQuant data.
• OKX has also published over 23,000 addresses for its Merkle Tree PoR program — allowing the public to view reserve asset flows.
OKX, one of the top five crypto exchanges, has recently released its first Proof-of-Reserves (PoR) report, revealing an impressive $7.5 billion in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). This is an important milestone for the industry, as it shows that OKX is dedicated to transparency and providing users with secure and reliable services.
What makes OKX unique is that its reserves are 100% clean, meaning that the exchange reserves do not contain the exchange’s native token, according to CryptoQuant data. This is a huge achievement, as most other exchanges have some degree of reserve asset contamination. Binance reserves, for example, are considered 87.6% clean, while Bitfinex and Crypto.com reserves are considered 69.88% and 95.51% clean, respectively.
In addition to its clean reserves, OKX has also published over 23,000 addresses for its Merkle Tree PoR program. This program allows the public to view the asset flows of OKX reserves, ensuring that the exchange is accurately reporting its balances. OKX CMO Haider Rafique said, “We’ve already taken a leadership position by publishing our PoR monthly. As industry standards for PoR continue to take shape, we expect that our reserve asset quality will be one of many key differentiating factors for OKX in the market.”
In the future, OKX is looking to further increase its transparency and security, ensuring that users feel confident in trading on the platform. With its impressive reserves and commitment to transparency, OKX is in a good position to become one of the leading exchanges in the industry.