OKX Exchange Tried to Re-Prove Asset Backing

Seychelles-listed cryptocurrency exchange OKX has published its second Proof of Reserve (PoR) report in two months.. The company has promised to strive for even greater transparency by publishing detailed reports on the 22nd of every month.. In addition, the exchange team announced new features that allow users to view OKX reserve ratios – for new data and for old ones. According to the report, OKX is currently the third largest crypto exchange by trading volume, with a reserve ratio of 101% for Bitcoin (BTC) and Tehter (USDT) stablecoins, and 103% for Ether (ETH). “We intend to lead the industry, so we are trying to increase transparency, and with it the trust of users. We believe that PoR should be verified using open source tools so that our users can independently verify the balance and ownership of our addresses,” said Chief Marketing Officer Haider Rafique. Earlier, the Russian Roskomnadzor blocked OKX for disseminating data on pyramid schemes and unlicensed services.