OKX declares $7.5B in liquid assets in proof-of-reserves report
According to blockchain analytics firm CryptoQuant, OKX has the largest clean asset reserves of all the major exchanges. Crypto exchange OKX disclosed $7.5 billion in reserves of Bitcoin (BTC), Ether (ETH) and Tether (USDT) as part of its monthly proof-of-reserves (PoR) report. Based on data from blockchain analytics firm CryptoQuant, OKX claims to have the “largest clean asset reserves among major exchanges.” OKX claims to maintain 1:1 reserves, which would mean means the company’s on-chain assets 100% match the customer‘s balances. The report shows current reserve ratios of 105% for BTC, 105% for ETH and 101% for USDT. The term “clean” is used in proof s of reserve s to describe crypto asset s that do not include an exchange's platform tokens and are purely made up of high-market-capitalization crypto asset s, such as BTC, ETH and USDT. CryptoQuant monitors PoRs across the industry. A clean reserve is defined by the firm as: “A clean reserve is the total reserve of each exchange...