OKX declares $7.5B in liquid assets in proof-of-reserves report
Crypto exchange OKX disclosed $7.5 billion in reserves of Bitcoin (BTC), Ether (ETH) and Tether (USDT) as part of its monthly proof-of-reserves (PoR) report.
Based on data from blockchain analytics firm CryptoQuant, OKX claims to have the “largest clean asset reserves among major exchanges.”OKX claims to maintain 1:1 reserves, which would mean means the company’s on-chain assets 100% match the customer‘s balances.
The report shows current reserve ratios of 105% for BTC, 105% for ETH and 101% for USDT.The term “clean” is used in proofs of reserves to describe crypto assets that do not include an exchange's platform tokens and are purely made up of high-market-capitalization crypto assets, such as BTC, ETH and USDT.CryptoQuant monitors PoRs across the industry.
A clean reserve is defined by the firm as:Related: Proof of reserves is becoming more effective, but not all its challenges are technicalThe analytics firm concluded OKX’s assets to be 100% clean.
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