{"id":23212,"date":"2023-09-01T04:32:19","date_gmt":"2023-09-01T04:32:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/okx-unwraps-impressive-10-4-billion-cryptocurrency-reserves\/"},"modified":"2023-09-01T04:32:19","modified_gmt":"2023-09-01T04:32:19","slug":"okx-unwraps-impressive-10-4-billion-cryptocurrency-reserves","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/okx-unwraps-impressive-10-4-billion-cryptocurrency-reserves\/","title":{"rendered":"OKX Unwraps Impressive $10.4 Billion Cryptocurrency Reserves"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>The well-known cryptocurrency exchange <a href=\"https:\/\/igaming.org\/crypto\/okx-middle-east-secures-license-to-prepare-for-dubai-operations\/\">OKX<\/a> has disclosed that it has reserves of Bitcoin (BTC), Ethereum (ETH), and the stablecoin Tether (USDT) totaling $10.4 billion, in an effort to increase confidence and transparency in the world of cryptocurrencies.<\/p>\n<h2><strong>A Commitment to Transparency<\/strong><\/h2>\n<p>By announcing monthly audits of the digital asset proof of reserves, OKX\u2019s Chief Marketing Officer Haider Rafique has underlined the platform\u2019s dedication to openness. Customers will now be able to rest easy knowing that their crypto assets are always 1:1 backed thanks to this action.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of up to $2,500<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Rafique notes, \u201cCustomers are able to see at any time audited proof that their crypto assets are 1:1 backed.\u201d<\/p>\n<h2><strong>Surpassing User Holdings<\/strong><\/h2>\n<p>The most recent audit of OKX was done on August 25 and uncovered a fascinating fact: the exchange actually has more BTC, ETH, and USDT than its users do.<\/p>\n<ul>\n<li>According to the audit, OKX users collectively hold 135,259 BTC, while the exchange itself holds 138,584 BTC, which includes 3,056 BTC held in custody by a third party.<\/li>\n<li>For Ethereum, OKX users have 966,527 ETH, whereas the platform holds 988,631 ETH, including 10,253 ETH held in third-party custody.<\/li>\n<li>In the case of USDT, OKX users hold 5.01 billion, while OKX wallet addresses hold 5.1 billion USDT, with 72 million USDT held in custody by a third party.<\/li>\n<\/ul>\n<p>An official statement from OKX highlights, <em>\u201cOKX\u2019s PoR (Proof of Reserves) covers 22 commonly used digital assets and shows that OKX has maintained a reserve ratio exceeding 100% for ten consecutive months across all those assets.\u201d<\/em><\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2><strong>User Trust and Transparency<\/strong><\/h2>\n<p>The dedication to openness shown by OKX seems to be in line with user opinions. 67.5% of the 612 participants in a survey conducted on the social networking site X rated monthly proof of reserves reports as \u201cvery important.\u201d In a different X survey, 79.6% of the 540 respondents emphasized the significance of transparency when choosing a crypto platform to believe in.<\/p>\n<p>This dedication to openness encourages trust among current users while also sending a comforting message to potential investors in the cryptocurrency market.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/okx-unwraps-impressive-10-4-billion-cryptocurrency-reserves\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) The well-known cryptocurrency exchange OKX has disclosed that it has reserves of Bitcoin (BTC), Ethereum (ETH), and the stablecoin Tether (USDT) totaling $10.4 billion, in an effort to increase confidence and transparency in the world of cryptocurrencies. A Commitment to Transparency By announcing monthly audits of [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":23213,"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":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23212"}],"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\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23212"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23213"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}