OKX has reported its Proof-of-Reserves (PoR) for the primary time revealing $7.5 billion in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), in keeping with its January PoR report on Jan. 19.
OKX is the one one among the many prime 5 exchanges with “100% clear” reserves, in keeping with CryptoQuant — a time period bestowed when an alternate’s reserves don’t embrace the alternate’s native token.
OKX reserves
OKX has over-collateralized reserves with a reserve ratio of 105% every for BTC and ETH, whereas USDT reserves are over-collateralized at 101%, in keeping with the report.
OKX has additionally revealed over 23,000 addresses for its Merkle Tree PoR program — permitting the general public to view reserve asset flows.
OKX CMO Haider Rafique mentioned:
“We’ve already taken a management place by publishing our PoR month-to-month. As business requirements for PoR proceed to take form, we count on that our reserve asset high quality will probably be one among many key differentiating elements for OKX available in the market.”
Compared to OKX, Binance reserves are thought-about 87.6% clear whereas Bitfinex and Crypto.com reserves are thought-about 69.88% and 95.51% clear, respectively, in keeping with CryptoQuant knowledge.
