Customer Assets Archives - Coin Engineer https://coinengineer.net/blog/tag/customer-assets/ Btc, Coins, Pre-Sale, DeFi, NFT Fri, 29 Nov 2024 11:21:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png Customer Assets Archives - Coin Engineer https://coinengineer.net/blog/tag/customer-assets/ 32 32 OKX Publishes 25th Proof of Reserves Report https://coinengineer.net/blog/okx-publishes-25th-proof-of-reserves-report/ https://coinengineer.net/blog/okx-publishes-25th-proof-of-reserves-report/#respond Fri, 29 Nov 2024 17:00:24 +0000 https://coinengineer.net/blog/?p=33020 OKX has published its 25th Proof of Reserves (PoR) report, revealing USD26.7 billion in primary assets backing customer funds. This solidifies OKX‘s position as one of the few exchanges committed to consistent transparency in the digital asset space. Additionally, last month, they celebrated two consecutive years of publishing PoR reports on a monthly basis. This

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]]> OKX has published its 25th Proof of Reserves (PoR) report, revealing USD26.7 billion in primary assets backing customer funds. This solidifies OKX‘s position as one of the few exchanges committed to consistent transparency in the digital asset space. Additionally, last month, they celebrated two consecutive years of publishing PoR reports on a monthly basis.

This month’s report shows significant growth, with a 32% increase in total wallet holdings of BTC, ETH, USDT, and USDC. Strong gains in BTC and ETH were the main contributors, while stablecoins like USDT and USDC showed steady growth. This highlights OKX‘s commitment to maintaining transparency and trust in the digital asset industry.

OKX has maintained reserve ratios of over 100% for 22 of its most frequently traded assets, reinforcing its commitment to safeguarding customer funds.

Current reserve ratios for primary assets are as follows:

  • BTC: 104%
  • ETH: 102%
  • USDT: 104%
  • USDC: 100%

The PoR program works alongside other security measures, including AI-powered blockchain monitoring tools, multi-billion-dollar insurance funds, and comprehensive encryption systems. These components form part of a broader security infrastructure designed to protect customer assets.

Last month, OKX marked two years of consecutive monthly PoR reports, reinforcing its leadership in transparency within the digital asset space. This showcases OKX as one of the few exchanges fully committed to transparency and security.

So far, over two million customers have used OKX‘s PoR verification tool. The exchange encourages all users to verify their assets through the platform, supporting crypto’s ethos of “don’t trust, verify.”

Insurance Funds are available only in specific markets, adding another layer of security to the services OKX provides.

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