Key Takeaways
- OKX achieves its 9th consecutive monthly Proof of Reserves, securing $11.3 billion in digital assets with a reserve ratio exceeding 100%.
- The exchange’s commitment to transparency is evident through public-facing disclosures.
- OKX’s leading role in the crypto industry is reinforced by their dedication to user security and continuous Proof of Reserves reporting.
OKX has accomplished an extraordinary feat in the crypto industry by releasing its 9th consecutive monthly Proof of Reserves (PoR). This news underscores their unwavering commitment to transparency and user security.
In this latest Proof of Reserves, OKX revealed a substantial sum of $11.3 billion in primary assets. What’s impressive is that this report covers 22 commonly used digital assets. More importantly, OKX has maintained a reserve ratio exceeding 100% for nine consecutive months across all these assets. This means they have more assets in reserves than the total amount owed to their users, ensuring a strong foundation for the platform’s stability.
OKX firmly believes in public-facing disclosures, and their consistent monthly reporting is a testament to their dedication. The vast number of addresses involved in their PoR program showcases their commitment to transparency. It allows users to independently verify the status of their assets.
To ensure the safety of users’ funds, OKX employs highly secure off-chain cold storage. This practice safeguards the majority of their reserves. it is also minimizing any potential risks associated with online storage. OKX also made waves with dual investment product.
Moreover, OKX provides a self-audit tool to users, allowing them to verify OKX’s solvency independently. This tool empowers users to confirm that their assets are backed by OKX’s reserves, all while maintaining their privacy.
OKX’s continuous monthly PoR not only demonstrates their leading role in the crypto industry. It also highlights their unwavering focus on transparency and user security. With this ongoing commitment, OKX sets an example for other exchanges, showcasing the importance of regular and reliable reporting to ensure trust and confidence among cryptocurrency users.
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