OKX Releases Second Proof of Reserves Report While Promising Monthly Updates
Seychelles-based crypto exchange OKX published its second proof of reserves (PoR) on Thursday, showing that user assets for the top 3 cryptocurrencies are fully backed. The exchange promised to publish subsequent PoR reports on roughly the 22nd day of each month from today onwards. Committing to PoR In a press release from OKX, the company provided a new tool allowing users to self-verify its reserves using open-source tools. The tool lets anyone examine the results of OKX’s proof of reserves audits at different points in time. As of its first audit on November 22nd, the exchange’s Bitcoin and Ethereum (ETH) reserves reportedly provided 102% backing on user assets, while Tether (USDT) deposits were 101% backed. KYC & Audit Solutions! SolidProof The firm’s most recent audit on December 20th shows that users’ BTC, ETH, and USDT were backed 101%, 103%, and 101% respectively. In absolute terms, that’s 108,434 BTC, 1,051,028 ETH, and 3,061,068,937 USDT in ...