We Publish Fifth Monthly Proof of Reserves Showing 8.9 Billion USD in Assets, Showcasing Transparency amid Financial Sector Worries
- OKX publishes proof of reserves showing 8.9b USD in BTC, ETH and USDT
- Latest Proof of Reserves system upgrades transparency by making OKX’s full liability Merkle tree publicly available, safeguards user privacy via technical solution
We today published our fifth monthly Proof of Reserves (PoR) showing $8.9 billion USD held in BTC, ETH and USDT.
Our latest PoR report demonstrates the power of technology-based ‘future tools’ to earn user trust, particularly at times when turmoil in the financial sector highlights the need for transparency.
Our current reserve ratios:
BTC: 103%
ETH: 103%
USDT: 102%
We also upgraded the transparency of its Proof of Reserves system by making full liabilities, or total balance of user deposits, visible to the public. This allows anyone to download the full liability Merkle tree as opposed to the previous system, which showed a user’s own liabilities but obscured data from other users. To safeguard user privacy, we splits and shuffles account liabilities in the tree using a technical solution called ‘splitting leaf nodes.’
Users are able to view our March PoR online, including reserve ratios for new and historical data. Reserves and liabilities can be self-verified on our website using open-source 3rd party verification tools.
We will soon upgrade our PoR further with zero-knowledge proof technology, a tamper-proof cryptographic approach that allows users to verify all client deposits are accounted for and guarantees solvency by comparing net equity of user assets to exchange reserves.
We have published thousands of addresses for the Merkle Tree PoR program, and will continue to use these addresses to allow the public to view asset flows. Our PoR protocol is open source and available to the public on Github. Our additional holdings can be viewed on the OKX Nansen Dashboard.
For the third month in a row, third-party data again shows that we hold the largest 100% clean asset reserves among major exchanges.
As part of our commitment to transparency, we will continue to publish PoR monthly.
Disclaimer This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.
