OKX Releases 15th Consecutive Reserve Verification Report: Main Asset Valuation Reaches $1.49 Billion, Now Including Bitcoin Cash for the First Time

OKX Releases 15th Consecutive Reserve Verification Report: Main Asset Valuation Reaches $1.49 Billion, Now Including Bitcoin Cash for the First Time

OKX Releases 15th Consecutive Reserve Verification Report: Main Asset Valuation Reaches $1.49 Billion, Now Including Bitcoin Cash for the First Time

Leading global Web3 technology company and virtual asset exchange OKX has released its 15th monthly Proof of Reserves (PoR) report, which shows that OKX holds major assets valued at $14.9 billion, with an average reserve ratio of 104% for these assets. This report also includes Bitcoin Cash (BCH) for the first time.

In addition to BCH, OKX’s PoR report comprehensively covers the reserve ratios of some of the most commonly used assets on their platform, including BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FT, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI.

As with previous reports, OKX’s 15th consecutive PoR report shows reserve ratios of all these assets exceeding 100%. This ensures that users’ funds are supported by more than a one-to-one ratio.

The current reserve ratios of OKX’s major assets are as follows:

BTC: 102%
ETH: 104%
USDT: 104%
USDC: 104%

Lennix Lai, Global Chief Business Officer of OKX, stated:

Since the launch of this report, OKX has enhanced and updated many features of its PoR based on user feedback. In April 2023, OKX will introduce zero-knowledge scalable transparent argument of knowledge (zk-STARK) technology to its PoR process. This technology allows users to independently verify the exchange’s solvency while ensuring their assets are backed by reserves without compromising privacy.

In October 2023, OKX released a video commemorating the one-year anniversary of its PoR report, advocating for Proof of Reserves to become an industry standard. The video features quotes from senior executives of OKX and influential figures, including Nic Carter from Castle Island Ventures, Scott Melker from The Wolf of All Streets, Sandeep Nailwal from Polygon, Jason Yanowitz from Blockworks, and Zak Brown from the McLaren F1 Team.

Users can review OKX’s latest PoR report, reserve ratios, and verify the exchange’s solvency.

About OKX:

OKX is a leading virtual asset exchange and Web3 ecosystem. OKX has developed virtual asset applications that combine speed and reliability, gaining popularity among over 50 million global investors and professional traders.

OKX closely collaborates with the English Premier League champions Manchester City Football Club, the McLaren F1 Team, Olympic snowboarder Scotty James, and F1 driver Daniel Ricciardo to enhance fan experiences through innovative interactive methods. Additionally, OKX is a top partner of the Tribeca Festival, aiming to attract more creators to the Web3 space.

In addition to exchange services, OKX has recently launched the OKX Web3 Wallet service, providing users with access to GameFi and DeFi tokens, allowing them to explore the NFT and metaverse domains.

This article is provided by the official source and does not represent the position or investment advice of this platform. Readers must conduct their own careful evaluations.