OKX publishes second Proof-of-Reserves update, commits to report monthly

Leading crypto exchange OKX has published the second update of its proof-of-reserves (PoR), with a promise to update on a monthly basis.

Following the collapse of FTX, crypto exchanges including OKX and Binance have moved to improve their transparency by publishing PoR reports.

OKX published the first version of its first proof of reserves report in December and it is accessible on the exchange’s website.

In a Dec. 22 update, OKX said it has published the second version of its reserve report to the public. Users can easily self-verify assets held on OKX entirely on-chain.

According to OKX’s dashboard on Nansen, the crypto exchange holds over 90% of its assets in BTC, ETH, and USDT.

In addition, OKX has committed to updating its proof of reserves on the 22nd of every month.
 OKX CMO Haider Rafique said::
“Publishing PoR results on a monthly basis strengthen our commitment to lead the industry when it comes to transparency and trust.”

The post OKX publishes second Proof-of-Reserves update, commits to report monthly appeared first on CryptoSlate.

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Filed under: Bitcoin - @ December 23, 2022 10:15 am