Giant Cryptocurrency Exchange Released Its Fifth Reserve Report! ‘Everything is Transparent!’

Second largest in the world by transaction volume cryptocurrency stock market and leading Web3 technology company OKXon the stock market today BTC, ETH and USDT released its fifth monthly Proof of Reserve (PoR) showing $8.9 billion held as

Cryptocurrency Exchange OKX Releases Fifth Monthly Proof of Reserve Showing USD 8.9 Billion Assets, Showcasing Transparency Across Financial Industry Concerns

OKX’s latest PoR report demonstrates the power of technology-based ‘future tools’ to gain user trust, especially at a time when financial sector turmoil has highlighted the need for transparency.

Current OKX reserve rates:

BTC: 103%

ETH: 103%

USDT: 102%

OKX has also increased the transparency of the Proof of Reserve system by making all liabilities or the total balance of user deposits publicly visible.

This allows anyone to download the full liability Merkle tree, unlike the previous system that shows a user’s own obligations but hides data from other users.

OKX splits and shuffles account obligations in the tree using a technical solution called ‘splitting leaf nodes’ to protect user privacy.

Lennix Lai, Corporate General Manager, OKX Global, said:

“In times of uncertainty, transparency is crucial and users need access to crypto-native tools that conclusively prove an exchange’s reserves on the blockchain.

OKX continually refines our approach to exceed market standards and provide real-time, reliable verification of reserves, liabilities and solvency.

This type of dynamic, on-demand supervision could be fundamental to a next-generation financial system and is crucial given the heavy scrutiny that the current banking system is going through.”

OKX will soon further elevate its PoR with zero-knowledge proof technology, a tamper-proof cryptographic approach that allows users to verify that all customer deposits are accounted for, and guarantees solvency by comparing the net equity of user assets with foreign exchange reserves.

*Not investment advice.

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