The reserves do not contain OKX's native token.
Similarly, the reserve ratio for Ethereum stood at 105%, a slight increase from 103% over the past month. OKX held 1,178,993 ETH against a user balance of 1,233,714 ETH. At 101%, Tether reserves also remained unchanged. OKX held 2,979,866,301 USDT holdings against 2,955,696,824 USDT in user balance.The exchange further revealed publishing over 23,000 addresses for its Merkle Tree Proof-of-Reserves program and will continue to use these to make viewing of asset flows accessible to the community.
OKX explained that asset reserves are deemed “clean” when a third-party analysis establishes the reserves do not include a crypto exchange’s native token and constitute exclusively of high-market cap “traditional” crypto-assets such as Bitcoin, Ethereum, and Tether. In the aftermath of FTX’s collapse, allegations of violating its own Terms of Service, as well as misusing user funds, have shaken investor confidence. Despite the trials and tribulations of the previous decades, OKX’s director of financial markets, Lennix Lai, said the cryptocurrency industry will “change the world.” The exec also said that OKX “has never misappropriated user assets before and never will.
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