OKX Crypto Exchange Discloses $10.4 Billion Reserves in Bitcoin (BTC), Ethereum (ETH), and USDT

The crypto exchange OKX has unveiled a total of $10.4 billion in value, comprising Bitcoin (BTC), Ethereum (ETH), and the stablecoin Tether (USDT), present within the platform’s reserves.

According to Haider Rafique, the Chief Marketing Officer of OKX, the platform is firmly committed to the regular issuance of audits that provide evidence of the reserves of digital assets. He further asserts that customers have the ability to access verified evidence, confirming the 1:1 backing of their cryptocurrency assets, at any given time.

Based on the most recent audit conducted on August 25th, OKX has demonstrated possession of larger quantities of BTC, ETH, and USDT compared to the holdings of its users. The audit reveals that OKX users collectively hold 135,259 BTC, while the exchange holds 138,584 BTC, inclusive of 3,056 BTC under third-party custody. Similarly, users of OKX retain 966,527 Ethereum, while the platform possesses 988,631, with 10,253 ETH held in third-party custody.

Lastly, OKX users possess 5.01 billion USDT, whereas the OKX wallet addresses contain 5.1 billion USDT, which encompasses 72 million USDT held in custody by a third party.

According to an official statement from OKX, the Proof of Reserves (PoR) coverage extends to 22 commonly utilized digital assets, affirming that OKX has consistently maintained a reserve ratio exceeding 100% for ten successive months across all these assets.

The firm also highlights findings from a poll conducted on the social media platform X, indicating that 67.5% of 612 participants regard monthly proof of reserves reports as “highly important.” Furthermore, in a separate poll on X, 79.6% of 540 respondents express the significance of transparency when determining the level of trustworthiness in a crypto platform.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.