blockchainreporter.net
In a major development, OKX, a prominent global Web3 technology firm and cryptocurrency exchange, has unveiled its 14th consecutive monthly Proof of Reserves (PoR) report. This report showcases a robust USD14.9 billion primary assets underpinning user funds.
📢 Hot Off The Press 📢
— OKX (@okx) December 20, 2023
We're proud to publish our December 2023 #ProofOfReserves report showcasing 100% reserve ratios for 22 assets.
This marks our 14th consecutive monthly PoR report 💪🏽
Verify now: https://t.co/X3jfgXQAwY pic.twitter.com/QTpx2N2Ymh
Reserve Ratios
The latest Proof of Reserves (PoR) report by OKX reveals the current reserve ratios for its primary assets. BTC leads with a reserve ratio of 103%, followed closely by ETH at 104%. USDT maintains a robust reserve ratio of 103%, ensuring the security of user funds. Additionally, USDC joins the lineup with a reserve ratio of 101%, reflecting OKX’s commitment to transparency and trust in the cryptocurrency exchange market. These reserve ratios provide users with a clear understanding of the platform’s financial stability and adherence to industry standards.
Lennix Lai, OKX Global Chief Commercial Officer, emphasized:
“Our monthly Proof of Reserves reports underscore our unwavering commitment to delivering a secure, reliable, and trustworthy platform and trading experience.” He further highlighted OKX’s dedication to maintaining industry-leading transparency by empowering users with real-time tools to verify reserves.”
An interesting addition to OKX’s PoR report is the acknowledgement of USDC as a “primary asset.” This reflects the growing significance of Circle Internet Financial’s stablecoin within the exchange.