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

Hull Invest

Leading crypto exchange OKX has gone public second update We commit to updating our Proof of Reserve (PoR) monthly.

Following the demise of FTX, cryptocurrency exchanges such as OKX and Binance are moving to increase transparency by publishing PoR reports.

OKX will publish the first version of the first proof of reserve report in December and will be accessible on the exchange’s website..

In its December 22 update, OKX said it had released the second version of its reserves report. A user can easily self-verify assets held in his OKX which is fully on-chain.

According to OKX Dashboard At Nansen, the cryptocurrency exchange holds over 90% of its assets in BTC, ETH, and USDT.

Additionally, OKX commits to renew proof of reserves on the 22nd of each month.

OKX CMO Haider Rafik said:

“Publishing PoR results monthly reinforces our commitment to leading the industry in terms of transparency and trust.”

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