The fourth monthly Proof of Reserves (PoR) report from cryptocurrency exchange OKX shows that $8.6 billion in clean assets.
Comparing the $7.5 billion reserve report from January to the February report, OKX’s reserves have increased by over 15%. Currently, the exchange has around $8.6 billion in Bitcoin, Ethereum, and USDT.
According to the OKX Nansen dashboard, the exchange reserve contains around $485.3 million in BTC, $338.2 million in ETH, and $199.9 million in USDT.
With reserve ratios of 104% for BTC and ETH, respectively, and 102% for USDT, the OKX reserve is generally over-collateralized. According to CryptoQuant statistics, all of the crypto exchange reserves are “100% clean.”
When an exchange’s reserves are entirely made up of large market cap crypto assets and not the exchange’s native token, the reserves are said to be “clean.”
With the demise of FTX, OKX pledged to regularly release its POR report. Users of the crypto exchange are said to have gathered to check their holdings during that time.
Around 90,000 unique users confirmed that their obligations are taken into account in the monthly proof of reserve publishing, while over 175,000 unique users accessed the PoR page, according to information provided by the crypto exchange.
In order to date, OKX has made approximately 23,000 addresses available to the public through its Merkle Tree PoR initiative, which enables viewing of asset flows.
