OKX’s 20th Monthly Proof of Reserves Showcases USD22.4 Billion in Primary Assets Backing Customer Funds
- To date, more than 1.65 million customers have checked and confirmed that their assets on OKX are backed 1:1
- OKX continues to maintain over 100% reserve ratios for 22 of the most frequently traded assets on its platform
- OKX is among the few exchanges that regularly publish PoR reports each month, demonstrating its continued commitment to raising the bar for trust and transparency
DUBAI, United Arab Emirates, June 27, 2024 (GLOBE NEWSWIRE) — OKX, a leading global Web3 technology company and crypto exchange, today announced the release of its 20th consecutive Proof of Reserves (PoR) report, showcasing USD22.4 billion in primary assets backing customer funds.
OKX is among the few exchanges that regularly publish PoR reports each month, demonstrating its continued commitment to raising the bar for trust and transparency in the industry. To date, more than 1.65 million customers have checked and confirmed that their assets on OKX are backed on a 1:1 basis. This month’s PoR report features the publication of 628,484 public wallet addresses.
As with its previous PoR reports, OKX maintains over 100% reserve ratios for 22 of the most frequently traded assets on its platform: BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, UNI and BCH.
The current reserve ratios for OKX’s primary assets are as follows:
- BTC: 104%
- ETH: 102%
- USDT: 107%
- USDC: 102%
OKX Global Chief Commercial Officer Lennix Lai said: “Our monthly PoR reflects our dedication to offering customers real-time, verifiable information about their assets. These reports serve as a testament to our commitment to open communication with customers and the larger crypto community. Our aim is for our ongoing attestations to inspire industry-wide transparency as we move towards the next phase of adoption, and we remain committed to publishing PoR reports indefinitely.”
OKX’s use of Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology – a cryptographic proof technology based on Vitalik’s idea to enforce the integrity and privacy of computations on blockchains – in its PoR process sets it apart. This innovative technology allows anyone to independently verify the total amount of assets held by OKX without revealing any user-specific data, bolstering privacy and security.
As a strong advocate for PoR, OKX has been actively contributing to discussions on the role of PoR in enhancing trust and transparency in the crypto industry. Last month, OKX Chief Innovation Officer Jason Lau shared insights on PoR’s role in industry growth at the DC Blockchain Summit. OKX also recently hosted an X Spaces session on PoR, featuring leading industry voices, including OKX Global Chief Commercial Officer Lennix Lai and Chief Marketing Officer Haider Rafique, Castle Island Ventures Founding Partner Nic Carter, Crypto Analyst and Influencer James Parker, and Crypto Educator and Advocate Joe Nakamoto.
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About OKX
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being one of the fastest and most reliable crypto apps in the world.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1 and Olympian Scotty James, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into Web3.
The OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
OKX also regularly publishes articles, accessible via OKX Learn. These articles provide readers with in-depth analyses of all cryptocurrencies, including factors influencing Bitcoin prices and Ethereum prices.
To learn more about OKX, download our app or visit: okx.com
