- OKX published its 25th monthly Proof of Reserves (PoR) report.
- The report demonstrated billions in primary assets backing user deposits.
- Over 2 million customers have used OKXโs PoR verification tool to confirm their assets.
Crypto exchange OKX has published its 25th monthly Proof-of-Reserves (PoR) report, showcasing primary assets worth billions of dollars.
A PoR report is a public attestation by an independent audit showing a digital asset trading platform or a custodial service has enough assets to cover all user deposits. OKX became one of the first major crypto platforms to start issuing PoR reports in November 2022 after the collapse of Sam Bankman-Friedโs exchange, FTX.ย
OKXโs 25th PoR Report
According to a statement on November 29, OKXโs 25th PoR report demonstrated $26.7 billion in primary assets backing user funds as of November 13 at 20:00 (UTC+8).ย
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The report indicated a significant jump in OKXโs primary assets, with wallet holdings for Bitcoin, Ether, USDT, and USDC recording a 32% surge following the recent crypto market rally triggered by Donald Trumpโs historic presidential election.ย
Per the PoR report, OKXโs current reserve ratios for BTC, ETH, USDT, and USDC are 104%, 102%, 104%, and 100%, respectively. DOGE, Solana, and Rippleโs XRP deposits on the exchange were all backed by reserves exceeding 100%.ย
โOur PoR program works alongside other security measures, including our multi-billion-dollar insurance fund*, AI-powered security tools for blockchain monitoring and comprehensive encryption systems. These elements form part of our broader security infrastructure designed to protect customer assets,โ OKX said.
OKX noted that over two million customers have used its PoR verification tool to confirm whether their assets are 100% backed. This underscores the exchangeโs commitment to fostering trust and transparency in the industry through popular cryptoโs ethos of โdonโt trust, verify.โ
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