OKX Continues To Lead In Trust And Transparency With 18th Consecutive Proof Of Reserves, Amounting To USD22.3 Billion

DUBAI, United Arab Emirates, April 25, 2024 (GLOBE NEWSWIRE) -- OKX, a leading global Web3 technology company and crypto exchange, today announced that it has published its 18th consecutive Proof of Reserves (PoR) report, showcasing USD22.3 billion in primary assets backing user funds.

OKX's PoR report illustrates the reserve ratios of the 22 most commonly traded assets on the OKX platform, including BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, UNI and BCH. Consistent with OKX's previous reports, its 18th PoR demonstrates over 100% reserve ratios for all these assets, assuring users that their funds are backed 1:1.

Here are the current reserve ratios for OKX's primary assets:

BTC: 103%

ETH: 104%

USDT: 104%

USDC: 103%

OKX Global Chief Commercial Officer Lennix Lai said: "At OKX, our mission is to equip users with the tools they need to confidently navigate this evolving financial landscape. Our 18th consecutive PoR speaks to OKX's strong commitment to building transparency and trust in the crypto space. As global crypto adoption accelerates, bolstered by public awareness due to institutional adoption and the halving, mechanisms like PoR, which enhance transparency and security, will be critical in giving peace of mind to new users."

Since the inception of OKX's PoR program, continuous improvements have been made based on user feedback. This commitment to excellence has led to recognition by blockchain expert Nic Carter, who rated OKX's PoR program as the highest among major exchanges. In 2023, OKX introduced the Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology to its PoR process. This technology empowers users to independently verify the solvency of the exchange and confirm that their assets are fully backed by OKX's reserves, all without compromising their privacy.

To view and interact with OKX's PoR, please click here.

For further information, please contact:

Media@okx.com

About OKX

OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being one of the fastest and most reliable crypto apps in the world.

As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1 and Olympian Scotty James OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.

The OKX Wallet is the platform's latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.

OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

First published on Thu, Apr 25, 2024

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Tags:

OKX Crypto Exchange Web3 Technology Crypto Security

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