The latest PoR report includes information on 22 different digital currencies.
OKX’s latest report shows that it has the longest streak of consecutive PoR releases.
Crypto exchange OKX has published its tenth Proof of Reserve (PoR) report to measure its liquidity in a highly volatile market.
According to the information contained in the report, the BTC, ETH and USDT reserves of the exchange grew to a total of 10.4 billion dollars.
OKX is one of the few exchanges that has been transparent about the reserve held against customer deposits.
Consecutive PoR releases
When the FTX exchange failed last year, it was revealed that co-founder and former CEO Sam Bankman-Fried (SBF) had embezzled customer funds.
This revelation triggered Binance’s practice of disclosing PoR. Lennix Lai, OKX Global Business Manager said:
“OKX’s 10 consecutive monthly PoR snapshots coincided with a 38% increase in OKX assets under management, which shows our strong focus on transparency among users.
We asked our community how important PoR and exchange transparency are to them and the results were as expected – users continue to demand monthly PoR and more transparency. At OKX, we care about user feedback and continue to invest in security and transparency features so that we can continue to earn user trust.
Compared to other exchanges, OKX’s latest report shows that it has the longest streak of consecutive PoR releases. The latest PoR report includes information on 22 different digital currencies. The trading system also boasted that their PoR exceeded customer deposits by 100% for the tenth time in a row.