- OKX published its 25th monthly Proof of Reserves (PoR) report.
- The report demonstrated billions in primary assets backing user deposits.
- Over 2 million customers have used OKX’s PoR verification tool to confirm their assets.
Crypto exchange OKX has published its 25th monthly Proof-of-Reserves (PoR) report, showcasing primary assets worth billions of dollars.
A PoR report is a public attestation by an independent audit showing a digital asset trading platform or a custodial service has enough assets to cover all user deposits. OKX became one of the first major crypto platforms to start issuing PoR reports in November 2022 after the collapse of Sam Bankman-Fried’s exchange, FTX.
OKX’s 25th PoR Report
According to a on November 29, OKX’s 25th PoR report demonstrated $26.7 billion in primary assets backing user funds as of November 13 at 20:00 (UTC+8).
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The report indicated a significant jump in OKX’s primary assets, with wallet holdings for Bitcoin, Ether, USDT, and USDC recording a 32% surge following the recent crypto market rally triggered by Donald Trump’s historic presidential election.
Per the PoR report, OKX’s current reserve ratios for BTC, ETH, USDT, and USDC are 104%, 102%, 104%, and 100%, respectively. DOGE, Solana, and Ripple’s XRP deposits on the exchange were all backed by reserves exceeding 100%.
“Our PoR program works alongside other security measures, including our multi-billion-dollar insurance fund*, AI-powered security tools for blockchain monitoring and comprehensive encryption systems. These elements form part of our broader security infrastructure designed to protect customer assets,” OKX said.
OKX noted that over two million customers have used its PoR verification tool to confirm whether their assets are 100% backed. This underscores the exchange’s commitment to fostering trust and transparency in the industry through popular crypto’s ethos of “don’t trust, verify.”
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