OKX Proof of Reserves Report: Collateral Ratios of 22 Assets Now Above 100%

IconCrypto News Terminal25 Apr, 2024

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OKX Proof of Reserves Report: Collateral Ratios of 22 Assets Now Above 100%

Chinese cryptocurrency exchange OKX has released its Proof of Reserves (PoR) report as of April 13, 09:00 AM. The PoR report shows that the collateral ratios of all 22 assets supported by the exchange exceed 100%. The collateral ratios of Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT) were 103%, 104%, 103%, and 104%, respectively. The report is published in response to the increasing demand for transparency and accountability in the cryptocurrency industry. PoR reports provide users with an independent verification of the assets held by an exchange, ensuring that the exchange has sufficient reserves to back up its liabilities. Previously on 25 April 2024, OKX released its Proof of Reserves report as of April 13, 09:00 AM. The collateral ratios of all 22 assets exceeded 100%. The collateral ratios of BTC, ETH, USDC, and USDT were 103%, 104%, 103%, and 104%, respectively.

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