{"id":16628,"date":"2023-01-19T08:51:43","date_gmt":"2023-01-19T08:51:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/okx-publishes-proof-of-reserves-report-has-assets-worth-7-5b\/"},"modified":"2023-01-19T08:51:43","modified_gmt":"2023-01-19T08:51:43","slug":"okx-publishes-proof-of-reserves-report-has-assets-worth-7-5b","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/okx-publishes-proof-of-reserves-report-has-assets-worth-7-5b\/","title":{"rendered":"OKX publishes proof-of-reserves report, has assets worth $7.5B"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674116242557-f38cddd3-2cc5-4fb5-a73b-5f5855aa4ba6-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674116242557-f38cddd3-2cc5-4fb5-a73b-5f5855aa4ba6-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674116242557-f38cddd3-2cc5-4fb5-a73b-5f5855aa4ba6-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1674116242557-f38cddd3-2cc5-4fb5-a73b-5f5855aa4ba6-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<ul>\n<li>According to the proof-of-reserve report, OKX\u2019s reserves have a total of $7.5 billion in assets.<\/li>\n<li>The assets are spread between bitcoin (BTC), USDT, and Ether (ETH).<\/li>\n<li>This is the third proof-of-reserve published by OKX exchange.<\/li>\n<\/ul>\n<p>In its third attempt to offer transparency on its stability, the <a href=\"https:\/\/coinjournal.net\/news\/okx-review-a-one-stop-platform-for-crypto-defi-dapps-nfts-and-gamefi\/\">OKX crypto exchange<\/a> has published a <a href=\"https:\/\/www.okx.com\/proof-of-reserves\/detail\">proof-of-reserve report<\/a> that shows the exact breakdown of the assets that the exchange has in its reserves.<\/p>\n<p>According to the report, the exchange has a total of $7.5 billion worth of assets in reserves which do not include its native token OKB. The <a href=\"https:\/\/coinjournal.net\/okb\/\">price of OKB<\/a> has dropped has 6.10% today to trade at $30.69 at the time of writing.<\/p>\n<p>The report shows that OKX is overcollateralized by all the assets in its reserves. It has a reserve ratio of 105% for ETH, 101% for USDT and 105% for BTC.<\/p>\n<h2>OKX reserves are 100% clean<\/h2>\n<p>OKX\u2019s proof-of-reserve report comes right on the heels of CryptoQuant developing a metric that measures the \u201ccleanliness\u201d of crypto exchanges\u2019 reserves. The cleanliness is determined by how reliant the reserves are on an exchange\u2019s native token.<\/p>\n<p>Data from CryptoQuant shows that OKX\u2019s proof of reserve is 100% clean since they do not contain its native token. The majority of other popular crypto exchanges are far from realizing such a level of reserve cleanliness. The reserves of <a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binance<\/a>, for example, are 87% clean, while those of Bitfinex are 70% clean and those of Huobi are 60% clean.<\/p>\n<p>According to OKX\u2019s Chief Marketing Officer, Haider Rafique, OKX has never used its native token to finance its business. In an interview with one media outlet, Rafique said:<\/p>\n<p><em>\u201cWe\u2019ve never used a native token to finance the company. The native token was never a big part of our business or treasury. Our native token was always designed to engage our most active customers and give them a way to seek discounts through activity on the platform.\u201d<\/em><\/p>\n<p>Rafique also revealed that OKX plans to be publishing its proof-of-reserve report every month. The exchange also plans to launch a bug bounty program that will allow developers to evaluate the reports and find out if there are any bugs in the system or with OKX that needs to be addressed.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/okx-publishes-proof-of-reserves-report-has-assets-worth-7-5b\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) According to the proof-of-reserve report, OKX\u2019s reserves have a total of $7.5 billion in assets. The assets are spread between bitcoin (BTC), USDT, and Ether (ETH). This is the third proof-of-reserve published by OKX exchange. In its third attempt to offer transparency on [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":16629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16628"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=16628"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16628\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/16629"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=16628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=16628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=16628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}