Cryptocurrency exchange OKX In a press release, it was stated that users will now be able to view and download the old and new reserve ratios and self-assess the health and safety of the exchange’s assets.
Cryptocurrency Exchange OKX Announces 2nd Reserve Report, Promises Monthly Release
Cryptocurrency exchange OKX has launched a second proof of reserve (PoR) published the report, adding features that allow users to verify that the second largest platform by trading volume has sufficient assets to process customer withdrawals.
The report, released on Thursday, revealed that as of 12:00 on Tuesday, OKX’s wallets 112,192 Bitcoins (BTC) against user balance 113,754 Bitcoin ($1.87 billion) it shows you holding it.
This translates to a 101% Bitcoin reserve ratio, slightly down from the 102% announced in the first report published on Nov.
Leading stablecoin Tether (USDT) reserve ratio at 101% while remaining stable Ethereum (ETH) reserve ratio 103% from 102%rose to .
Exchange addresses tracked by analysis firm Nansen BTC, ETH and USDT‘s assets 90%It shows that it’s more than .
Proof of reserve, after FTX’s collapse cryptocurrency It is an audit method adopted by exchanges to prove that it does not lend client funds, as FTX does, and that it owns assets it claims to hold on behalf of its users.
However, these organizations have been criticized for failing to provide information on obligations and internal quality controls, which are the focus of the crypto community.
For example, BinanceFrench audit firm mazarsIts latest proof-of-reserve report from .
To gain customer trust and allow users to audit the 23,000 addresses that the exchange plans to continue using in the future, OKX said in the press release. on its 22nd day He said he would publish proof of funding.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!