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OKX's 15th Consecutive Proof of Reserves Report: USD14.9 Billion in Primary Assets, Including Bitcoin Cash For First Time

Published on Jan 31, 2024

Updated on Apr 25, 2024

Dubai, the UAE, January 31, 2024 -- OKX, a leading global Web3 technology company and crypto exchange, today announced the publication of its 15th monthly Proof of Reserves (PoR) report, showcasing primary assets amounting to USD14.9 billion, a 104% average reserve ratio of primary assets and the inclusion of Bitcoin Cash (BCH) for the first time.

In addition to BCH, OKX's PoR report provides a comprehensive overview of the reserve ratios for some of the most commonly used assets on the platform: BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX and UNI.

As with its previous reports, OKX's 15th consecutive monthly PoR reveals reserve ratios of over 100% for all of these assets. This ensures that user funds are backed 1:1.

The current reserve ratios for OKX's primary assets are as follows:

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

OKX Global Chief Commercial Officer Lennix Lai said: "Our Proof of Reserves program stands as a symbol of transparency and trust in the industry. We remain steadfast in our commitment to regularly publish monthly reports, incorporate user feedback and adopt industry best practices. We take pride in leading the transformation of the crypto space and building a future system rooted in trust."

Since the program's inception, OKX has introduced a number of feature updates and enhancements to its PoR in response to user feedback. In April 2023, OKX incorporated the Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology into its PoR process. This technology allows users to independently verify the solvency of the exchange while ensuring that their assets are backed by the reserves, all without compromising on privacy.

In October 2023, OKX marked the one-year anniversary of its PoR program with a video advocating for Proof of Reserves as an industry standard. The video featured OKX's senior executives alongside influential voices such as Nic Carter (Castle Island Ventures), Scott Melker (The Wolf of All Streets), Sandeep Nailwal (Polygon), Jason Yanowitz (Blockworks) and Zak Brown (McLaren F1 Team).

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

Disclaimer

This article may cover content on products that are not available in your region. It is provided for general informational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed herein. It represents the personal views of the author(s) and it does not represent the views of OKX. It is not intended to provide advice of any kind, including but not limited to: (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. OKX Web3 features, including OKX Web3 Wallet and OKX NFT Marketplace, are subject to separate terms of service at www.okx.com.
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