OKX publishes the fifth POR report with $ 8.9 billion in clean assets and plans to stop the Canadian branch

OKX publishes the fifth POR report with $ 8.9 billion in clean assets and plans to stop the Canadian branch

OKX has promoted the new industrial standard to increase transparency and published its fifth POR report (proof-of-reserves). The latest edition showed that the crypto exchange based on the Seychelles keeps clean assets worth $ 8.9 billion in BTC, ETH and USDT.

The data show that the Wallets of OKX 138.405 BTC, 1,325,259 ETH and 3.264.352.204 USDt from 134,289 BTC, 1,284,812 ETH or 3.199.251.622 USDT.

• This proves that OKX with a reserve rate of 103 % for Bitcoin, 103 % for Ethereum and 102 % for Tether.
• The report also emphasized that OKX holds the largest 100 % clean asset reserves among the large stock exchanges for the third month in a row.
• While the reserve rates of Bitcoin and Ethereum have recorded a slight decline since the last report published in February, their stocks have increased by almost 3.5 % in the same period.
• The minimum reserves of the StableCoin USDT, however, remained unchanged.
• Lennix Lai, the managing director of Global Institutional at OKX, explained:

"OKX continuously improves our approach to exceed market standards and to achieve a trustworthy review of reserves, liabilities and solvency in real time. This type of dynamic on-demand examination could be of fundamental importance for a financial system of the next generation and is very relevant in view of the strict examination that the current banking system is exposed."

• In the future, OKX plans to upgrade its POR with zero-knowledge-proof technology, an approach that enables users to check whether all customer deposits are taken into account, and which guarantees solvency by comparing the net own capital of the user wealth values with the currency reserves.
• Last week Okx suffered a temporary failure, the second in three months due to temporary problems with his servers.
• In recent times, Okx sent an email to Canadian user in which it was announced that the company in the country will be hired by mid-2023. The stock exchange announced that withdrawals have to remain open by June 22nd and users have to transfer their crypto and fiat to other crypto money exchanges or linked bank accounts.

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