Coinspeaker
OKX Publishes 17th Proof of Reserves Showing $22.2B in Assets
In a bid to increase transparency after the 2022 market headwind, crypto exchange OKX has continued to publish its Proof of Reserves (PoR) every month, showing the company’s portfolio and how much it holds in various digital assets.
On March 27, 2024, the exchange published its latest report, the 17th PoR since the downfall of FTX and the Terra (LUNA) fiasco in 2022. It shows a balance of $22.2 billion in primary assets backing users’ funds.
User Assets Are Backed 1:1
According to the official press release, the exchange has maintained a reserve ratio surpassing 100% in 22 of the most traded cryptocurrencies on the platform.
Some of these assets include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Tether’s stablecoin USDT, and Ripple’s XRP.
The PoR shows that the exchange has a record of a total BTC reserve of 102%, ETH 104%, USDT 106%, and USD 110%. It also demonstrate
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