DUBAI, United Arab Emirates, May 29, 2024 (GLOBE NEWSWIRE) -- OKX, a leading global Web3 technology company and crypto exchange, today announced the release of its 19th consecutive Proof of Reserves (PoR) report, showcasing USD22.5 billion in primary assets backing customer funds.
In line with its commitment to transparency and accountability in the crypto space, OKX published over 680,000 public wallet addresses this month. This allows OKX's customers and the wider community to independently verify the platform's reserves. To date, over 1.5 million customers have viewed and verified that their assets on OKX are backed 1:1.
Consistent with OKX's previous PoR reports, its 19th PoR demonstrates over 100% reserve ratios for the 22 most commonly traded assets on its platform: BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, UNI and BCH.
The current reserve ratios for OKX's primary assets are as follows:
- BTC: 104%
- ETH: 103%
- USDT: 102%
- USDC: 102%
OKX Global Chief Commercial Officer Lennix Lai said: "Our PoR program's high level of engagement is a testament to the fact that PoR is far from a niche topic, but a vital part of maintaining trust in the crypto space. We're proud of our open-source PoR protocol, and will continue to innovate and enhance our PoR program, ensuring customers that their assets are securely backed by OKX's reserves."
As a strong advocate for PoR, OKX has been actively contributing to discussions on the role of PoR in enhancing trust and transparency in the crypto industry. On May 3, OKX hosted an X Spaces session on PoR featuring leading industry voices, including OKX Global Chief Commercial Officer Lennix Lai and Chief Marketing Officer Haider Rafique, Castle Island Ventures Founding Partner Nic Carter, Crypto Analyst and Influencer James Parker, and Crypto Educator and Advocate Joe Nakamoto.
In addition, OKX Chief Innovation Officer Jason Lau recently participated in a PoR-themed panel at DC Blockchain Summit, which seeks to bring together global blockchain advocates and thought leaders. During the panel, Jason discussed how PoR - powered by cutting-edge innovations such as zk-STARK technology - can support sustainable growth in the industry.
To view and interact with OKX's PoR, please click here.
For further information, please contact:
Media@okx.com
About OKX
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being one of the fastest and most reliable crypto apps in the world.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1 and Olympian Scotty James, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into Web3.
The OKX Wallet is the platform's latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
