You are currently viewing OKX releases Proof of Reserves page, along with instructions on how to self-audit its reserves

Crypto exchange OKX has released a Proof of Reserves page that allows users to audit its reserves to make sure it is solvent. This comes at a time when crypto exchanges are coming under greater scrutiny after the collapse of FTX. OKX announced the new page in a tweet, as well as on its blog.

Don’t trust, verify → OKX Proof of Reserves (PoR) is LIVE.

To set a new standard of transparency, risk management and user protection, we’re launching our first PoR.

You can now verify your assets are backed 1:1 on #OKX ⤵️

Details

— OKX (@okx) November 23, 2022

The Proof of Reserves page offers two different options for users to audit the exchange’s reserves. The first allows users to get a brief summary of the exchange’s current reserves and liabilities for its top three cryptocurrencies: BTC, ETH, and USDT.

This summary currently indicates that OKX has 102% of the BTC

Keep reading this article on Cointelegraph.com.

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