$8.6B in Clean Asset Reserves Shown at OKX

T

he recent OKX Proof of Reserves report has revealed an astounding $8.6 billion in pristine assets located within their reserves, including $485.3 million worth of Bitcoin (BTC), $338.2 million worth of Ethereum (ETH), and a whopping amounting to nearly 200 million USDT! These results have been documented on the Nansen dashboard for all to see.

OKX has recently exposed its fourth monthly Proof of Reserves (PoR), exhibiting greater than $8.6 billion worth of clean assets comprising BTC, ETH, and USDT.

An impressive 15% growth has been seen in OKX's February reserves report, having grown from the January figure of $7.5 billion to the current total of $8.6 billion held in BTC, ETH and USDT.

The Exchange Reserve is currently in the possession of an impressive $8.6 billion worth of Clean assets, with $485.3 million being stored as Bitcoin (BTC), Ethereum (ETH) at a value of $338.2 million and USDT for a total amounting to almost two hundred million ($199.9). This data was gathered from OKX Nansen's dashboard showing current holdings within the reserve fund itself.

In total, the OKX reserve is over-collateralized with a reserve ratio of 104% for both BTC and ETH, whereas USDT has a slightly lower but still impressive reserve ratio of 102%.

According to Crypto Quant, all OKX reserves are composed of only high market cap cryptocurrencies--not the exchange's native token. This indicates that these funds are "100% clean". Having a reserve with no trace of its native asset is an assurance for traders and investors alike, as it demonstrates full transparency in transactions.

As the aftermath of FTX's collapse echoes, OKX has shown strong dedication to releasing its PoR report monthly. Consequently, a surge in interest among OKX users is felt as they verify their holdings and take part in these reports.

Remarkably, the PoR page by OKX attracted a whopping 175,000 unique users and 90,000 of them went on to verify that their liabilities are included in the monthly Proof Of Reserve statement.

To date, OKX has disseminated 23,000 addresses for its Merkle Tree Proof of Reserve (PoR) system on an open forum. This allows the public to view their asset movements easily and securely.

Chris

An editor at Coincrop

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Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.