Exchange OKX Publishes its Second Reserves Report
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Cryptocurrency trading platform OKX has just published its second report on the presence of reserves (Proof-of-Reserves) to confirm the provision of users’ assets.
According to the document, customer deposits in Bitcoin have a coverage of 101%, whereas the platform provides 103% of user funds in Ethereum, and 101% in Tether.
These coins account for more than 90% of all assets on the exchange.
The company has said:
“We at OKX believe that Proof-of-Reserves should be subject to verification using open source tools so that users can independently verify the balance and ownership of reserves at our addresses.”
Binance became in November the first exchange to start the publication of information on reserves amid the collapse of FTX.
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