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.
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
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