OKX Crypto Exchange Discloses $10.4 Billion in Bitcoin (BTC), Ethereum (ETH), and USDT Reserves
The crypto exchange OKX has unveiled a total reserve holding of $10.4 billion in Bitcoin (BTC), Ethereum (ETH), and the stablecoin Tether (USDT).
OKX, under the leadership of its Chief Marketing Officer Haider Rafique, is dedicated to enhancing transparency by conducting monthly audits to prove the legitimacy of their digital asset reserves. Customers can readily access audited verification, ensuring a 1:1 backing of their crypto assets.
The most recent audit, conducted on August 25th, highlights that OKX holds more Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) than its users do. According to the audit, OKX users possess a total of 135,259 BTC, while the exchange holds 138,584 BTC, including 3,056 BTC in third-party custody.
For Ethereum, users have 966,527 ETH, while OKX holds 988,631 ETH, including 10,253 ETH held in third-party custody. In the case of USDT, users hold 5.01 billion USDT, and OKX wallet addresses hold 5.1 billion USDT, with 72 million USDT in third-party custody.
OKX's Proof of Reserves (PoR) covers 22 commonly traded digital assets, consistently maintaining a reserve ratio exceeding 100% for ten consecutive months across all these assets.
According to OKX's press statement, a poll on the social media platform X revealed that 67.5% of 612 respondents consider monthly proof of reserves reports "very important." In another X poll, 79.6% of 540 voters emphasized the significance of transparency when choosing a trustworthy crypto platform. This commitment to transparency and regular audits enhances user confidence in OKX's financial integrity.
Sep 01, 2023
