Wednesday, July 26, 2023

OKX Releases Industry Leading 9th Consecutive Proof of Reserves in July, Showing USD$11.3 billion in Primary Assets

OKX PoR 9 - v July 26

HONG KONG SAR, July 26, 2023 - OKX, a leading crypto exchange by trading volume and Web3 technology company, has published its industry best ninth consecutive monthly Proof of Reserves (PoR), showing a balance of USD$11.3 billion in BTC, ETH and USDT. 

OKX's PoR covers 22 commonly used digital assets and demonstrates that OKX has maintained a reserve ratio exceeding 100% for nine consecutive months across all those assets. In addition to BTC, ETH and USDT, the assets included in OKX's PoR are: USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX and UNI.

OKX stores the majority of its reserves in highly secure off-chain cold storage. It has seen hundreds of thousands of users engage with its PoR, visit its PoR page and view their self-audits since first launching its PoR page in late 2022. 

OKX's current reserve ratios are as follows:
BTC: 103%
ETH: 103%
USDT: 103%

OKX Global Chief Commercial Officer Lennix Lai said: "Public-facing disclosures of both reserves and liabilities are essential to ensure long-term accountability in our industry. However, point-in-time attestations of reserve holdings mean little—instead, sustained and consistent disclosures are needed. As the industry leader when it comes to monthly PoR reporting, with more consecutive monthly snapshots than any other top exchange, our commitment to transparency is unwaivering."

OKX will continue to publish its monthly PoR while providing a self-audit tool to all users. The open-source verification tool enables users to independently verify OKX's solvency and confirm their assets are backed by OKX reserves while maintaining their privacy. 

OKX has published over 210,000 addresses for its PoR program, and will continue to allow the public to view its asset flows. 

Users can view the latest PoR report, reserve ratios, and verify OKX's solvency here.

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