OKX publishes second Proof-of-Reserves update, commits to report monthly OKX publishes second Proof-of-Reserves update, commits to report monthly
OKX's latest proof-of-reserves report shows it holds over 90% of its assets in BTC, ETH, and USDT — the exchange has committed to update its reserve on the 22nd of every month.
1 min read
Updated: Dec. 23, 2022 at 10:16 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Leading crypto exchange OKX has published the second update of its proof-of-reserves (PoR), with a promise to update on a monthly basis.
Following the collapse of FTX, crypto exchanges including OKX and Binance have moved to improve their transparency by publishing PoR reports.
OKX published the first version of its first proof of reserves report in December and it is accessible on the exchange’s website.
In a Dec. 22 update, OKX said it has published the second version of its reserve report to the public. Users can easily self-verify assets held on OKX entirely on-chain.
According to OKX’s dashboard on Nansen, the crypto exchange holds over 90% of its assets in BTC, ETH, and USDT.
In addition, OKX has committed to updating its proof of reserves on the 22nd of every month.
OKX CMO Haider Rafique said::
“Publishing PoR results on a monthly basis strengthen our commitment to lead the industry when it comes to transparency and trust.”
Mentioned in this article
Author 
Christian Nwobodo
Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.
Latest Bitcoin Stories
Featured Story
Advertise Here
In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,483.93
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Tether
$0.99951
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
OKX
OKX is a world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology.