OKX publishes second Proof-of-Reserves update, commits to report monthly

Leading crypto exchange OKX has published the second update of its proof-of-reserves (PoR), with a promise to update on a monthly basis.

Following the collapse of FTX, crypto exchanges including OKX and Binance have moved to improve their transparency by publishing PoR reports.

OKX published the first version of its first proof of reserves report in December and it is accessible on the exchange’s website.

In a Dec. 22 update, OKX said it has published the second version of its reserve report to the public. Users can easily self-verify assets held on OKX entirely on-chain.

According to OKX’s dashboard on Nansen, the crypto exchange holds over 90% of its assets in BTC, ETH, and USDT.

In addition, OKX has committed to updating its proof of reserves on the 22nd of every month.

OKX CMO Haider Rafique said::

“Publishing PoR results on a monthly basis strengthen our commitment to lead the industry when it comes to transparency and trust.”

Journalist at CryptoSlate

Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

Source: https://cryptoslate.com/okx-publishes-second-proof-of-reserves-update-commits-to-report-monthly/

Connect your wallet, trade with Orion Swap Widget.