OKX publishes 4th wealth report with $8.6 billion in user funds

Data from CryptoQuant statistics clean reserve of the exchanges OKX, Binance and Huobi are 100%, 94% and 61% respectively.

OKX publishes 4th wealth report with $8.6 billion in user funds

According to the statistic Proof-of-Reserves Posted on the afternoon of February 20, OKX exchange raised the amount of assets held on behalf of users to $ 8.6 billion, continuing to increase compared to the previous three times announced.

Specifically, OKX information that it is managing 130,664 BTC, 1,288,504 ETH and 3 billion USDT as of February 17. Compared to the actual amount deposited by customers on the exchange, the above figures are 2-4% higher, ensuring the margin ratio is always above 100%.

The exchange says that more than 175,000 users have visited the Proof-of-Reserves site since its launch last year. OKX Financial Markets CEO Lennix Lai said in a statement:

“Proof-of-Reserves is vital to building user trust and we guarantee OKX will continue to lead this trend in the field.”

Last month, OKX announced that the amount of user assets on the platform had increased from $6.4 billion in December 2022 to $7.5 billion.

In addition, the collapse of FTX largely due to illiquid token holdings gave birth to a new concept of “clean reserves” – developed by CryptoQuant to measure how dependent an exchange is on its own coin. them, the exchange token value accounts for a low percentage of the balance sheet.

Also follow Latest data from CryptoQuantOKX continues to lead this index with a perfect score, while the “cleanliness” of Binance is only at 94% and Huobi is at 61%.

Recently, OKX announces upcoming blockchain launchresonate with the positive asset transparency report recently made OKX’s OKB token price continuously detects peaks and is trading at $52.9.

1D chart of OKB/USDT pair on OKX exchange, screenshot of TradingView on the morning of February 21, 2023

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