OKX publishes new assets report, holding $7.5 billion in user funds

According to the latest published data, the OKX exchange has raised the amount of assets held on behalf of users to $7.5 billion, up from the previous month.

Amount of assets held on OKX as of January 18, 2023

On the afternoon of January 19, cryptocurrency exchange OKX posted the latest Proof-of-Reserves data, claiming that the amount of user assets stored on the exchange has increased from $6.4 billion last month to $6.4 billion last month. 7.5 billion USD at the present time.

Accordingly, as of January 18, OKX said it was holding 117,682 BTC, 1,178,993 ETH and 2.9 billion USDT. Compared to the actual amount of money held by customers on the exchange, the above figures are from 1-5% higher, ensuring OKX will always have an excess of money to ensure that customers are always more than 100% secured.

The exchange also said that it has integrated more than 23,000 users’ wallet addresses into the Proof-of-Reserves balance verification mechanism using Merkle Tree, allowing interested users to verify their assets are properly held. on the exchange using blockchain data.

In addition, OKX also claims that their metric is a “clean asset” reserve, which means that the value of exchange tokens accounts for a low percentage. Citing a third-party statistical unit, CryptoQuant, only OKX and Deribit are the two platforms with a clean reserve ratio of 100%, followed by Crypto.com with 95.51%, while Binance only reaches 87 ,6%.

Ratio of “clean reserves” on exchanges as of January 18, 2023, according to CryptoQuant

With the latest 24-hour trading volume reaching $1.8 billion, OKX is the third largest cryptocurrency exchange in the world, behind Binance and Coinbase.

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