After the excessive turmoil in the crypto market triggered by the FTX liquidity and bankruptcy scandal, several crypto service providers began publishing their reserve funds.
Popular crypto exchange OKX released its third Proof-of-Reserves (PoR), in which it revealed holding “clean assets” worth $7.5 billion in BTC, ETH, and USDT.
In a statement, OKX’s Chief Marketing Officer Haider Rafique said,
“Security, transparency, and trust are core tenets of the OKX business process and customer service philosophy. 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.”
OKX’s Third PoR Report
According to the latest data, OKX’s wallets held 123,914 BTC against a user balance of 117,682 BTC as of January 18th. The exchange is overcollateralized with a Bitcoin reserve ratio of 101, unchanged since the PoR report last month.
Similarly, the reserve ratio for Ethereum stood at 105, a slight increase from 103 over the past month. OKX held 1,178,993 ETH against a user balance of 1,233,714 ETH. At 101, Tether reserves also remained unchanged. OKX held 2,979,866,301 USDT holdings against 2,955,696,824 USDT in user balance.
