OKX’s 35th PoR Shows Reserves Surpass $33 Billion

OKX’s 35th Proof of Reserves confirms over $33.1 billion in BTC, ETH, USDT, and USDC, maintaining reserve ratios of 105%, 103%, 105%, and 100% respectively. This transparency builds trust and stability in the crypto ecosystem.

OKX, a leading cryptocurrency exchange, released its 35th Proof of Reserves (PoR), revealing that reserves for BTC, ETH, USDT, and USDC exceed $33.1 billion.

OKX’s announcement underscores its commitment to transparency amid ongoing industry challenges. By revealing reserves over $33 billion, OKX aims to reassure users of its platform’s financial stability.

OKX’s 35th PoR demonstrates the exchange’s strong reserve position with a total reserve value exceeding $33.1 billion for major cryptocurrencies. The reserves for BTC, ETH, and USDT are maintained at 105%, 103%, and 105%, respectively, while USDC is at 100%. OKX’s approach ensures user funds are backed 1:1, reflecting a longstanding dedication to transparency and security. The exchange’s engineering and governance teams implement advanced cryptographic methods such as zk-STARK, which facilitates verification without revealing sensitive information.

“The PoR’s release has notable implications for both users and the broader crypto industry. Enhanced transparency builds user trust and aims to prevent systemic failures previously seen in the industry.”

With reserve ratios consistently over 100%, OKX solidifies its reputation for financial stability.

Additionally, this latest attestation expands OKX’s coverage of cryptocurrencies from an initial three to 22, indicating an extensive engagement with a wider range of digital assets. This move not only strengthens user confidence but also advocates for sector-wide best practices.

Bitcoin, Ethereum, and major stablecoins have seen improved investor interest due to OKX’s transparent practices. The expansion of PoR coverage has a broader market impact, potentially setting a template for other exchanges. With the focus on verifiable methods like Merkle trees and zk-STARK, stakeholders within the industry can expect growing trends towards technological transparency and financial accuracy in reporting.