NewsletterOKX Unveils Latest Reserve Holding, Here Are its Biggest Bags
OKX, one of the prominent digital currency trading platforms in the industry has published its 10th Proof-of-Reserve (PoR) report to ascertain its liquidity in today’s ever-changing market.
The OKX Mind-Blowing Exposition
According to the report’s details, the exchange now boasts $10.4 billion in reserves holding the trio of Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) respectively. OKX has become one of the few trading platforms that has consistently shown its users and the general public what it holds as a reserve against customer deposits.
The culture of publishing PoR started with Binance last year when FTX Derivatives Exchange collapsed on the grounds that co-founder and former CEO, Sam Bankman-Fried (SBF) commingled customer deposits.
The latest PoR shares became even more critical after about 84% of respondents in online polls admitted to the importance of PoR while as much as 88% said they are more likely to choose an exchange that maintains a transparent and verifiable PoR system.
As far as OKX is concerned, its latest report places it ahead of any other exchange with respect to the consecutiveness of its PoR release. The latest report covers a total of 22 digital currencies it supports. Additionally, the trading platform said its PoR has sustained the trend of exceeding user’s deposits by 100% for the 10th consecutive time.
Besides the three biggest assets, the OKX report also encompasses USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI.
Rebuilding Trust
At the time of writing, OKX is currently ranked as the 6th largest digital currency trading platform according to daily trading volume as profiled by CoinMarketCap.
The exchange has proven time and again that it can fulfill customer redemption without the fear of a bank run. This has positioned it as one of the friendly platforms in the industry today. Additionally, OKX operates outside of the United States, a positioning that has given it more operational freedom to list tokens and be shielded from the broad-based regulatory battery on related firms by American regulators
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Toncoin (TON), Plasma (XPL) Rebound as Coinbase Announces Listing
- Hyperliquid Pool Sees $4.9M Loss Amid POPCAT Whale Market Exploit
- SUI Network Gets Major Boost From $100M Astro Perp DEX Success and Stablecoin Launch
- Nasdaq Certifies Canary Capital XRP ETF for Trading Ahead of Milestone Launch Today
- Breaking: President Donald Trump Signs Bill to End Government Shutdown, Bitcoin Bounces
- Is Dogecoin Price Set for a Rally After 4.72 B $DOGE Whale Accumulation?
- XRP Price Shows Early Signs of Recovery Ahead of the First U.S. XRP ETF Debut—Rally Ahead?
- Will XRP, DOGE And ADA Surge After U.S. Government Shutdown Resolution?
- FUNToken is Trending Sideways Ahead of the $5M Giveaway: Is It Accumulating?
- Death Cross Triggers Sell Signals for Cardano Price— Will ADA Retest $0.50?
- Sui Price Set for a $5 After Launch of USDsui Native Stablecoin
