Crypto exchange OKX has published a second Proof of Reserves (PoR) on its website. Just a month after its initial launch, OKX Chief Marketing Officer Haider Rafique said on Twitter, “The crypto exchange is committed to sharing its reserve position on a monthly basis.”
The announcement also includes the introduction of a new feature that allows “Users can view the OKX reserve ratio for new and historical data” and can verify the assets on the network themselves. and can download new and historical data
OKX’s second Proof of Reserves ratio indicates that the exchange holds 101% of Bitcoin, 103% of Ether, and 101% of Tether. As of last month, OKX held 102% of BTC and ETH, as well as 101% of USDT. Required to handle all withdrawals
The exchange hopes that the release of its monthly Proof of Reserves report will help foster transparency and re-establish trust between users in the wake of FTX’s sudden collapse.
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