OKX’s $35.4B Reserves: A Tale of Crypto, Audits, and 🤑

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Ah, the world of finance, where numbers dance like fireflies on a summer’s eve, and OKX, that intrepid navigator of the crypto seas, has just unveiled a treasure trove of $35.4 billion in reserves. 🌊✨ A 75% surge, you say? How delightfully bourgeois! As the 36th Proof of Reserves report graces us with its presence, one cannot help but marvel at the spectacle of an industry under the watchful eye of regulators, striving to clothe itself in the garb of respectability. 🕵️‍♂️

  • Three long years of PoR reporting, and OKX stands tall, its $35.4 billion in assets fully backed across 22 tokens. A veritable fortress of fiscal prudence! 🏰
  • Growth, they say, is the only constant, and OKX’s reserves have swelled by 75% year-over-year. BTC, ETH, USDT-all basking in the glow of 100%+ coverage. How quaint! 💰
  • Ah, the users! Those curious souls whose verification fervor has surged, with ZK audits up 386% and “View My Audit” engagement up 123%. Truly, the age of enlightenment is upon us! 🔍

In a missive shared with crypto.news on the 30th of October, OKX proclaimed its 36th consecutive month of Proof of Reserves reporting, a feat as impressive as it is tedious. $35.4 billion, they say, fully backing customer funds. Verified by Hacken, no less-those stalwart guardians of blockchain security. 🛡️

The reserves, a tapestry of 22 major assets including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Tether (USDT), and USD Coin (USDC), all bask in the glory of over 100% coverage. A milestone, indeed, marking the third anniversary of OKX’s PoR program. And what a milestone it is, with a 75% year-over-year increase in total assets and a surge in onchain audit participation. The users, it seems, are not merely spectators but active participants in this grand charade of trust. 🎭

“Three years of PoR reporting show progress and consistency. What started as a crisis response has set an industry standard. As crypto integrates further with traditional finance, we’ll ensure trust is always verifiable – on-chain and open for all,” OKX declared, with all the gravitas of a Victorian novelist. 📜

Transparency in numbers: How OKX’s reserves stack up

Ah, the reserves! Let us delve into the minutiae, shall we? OKX’s largest holdings remain fully backed, with coverage ratios that would make even the most stoic accountant blush. Bitcoin, that darling of the crypto world, boasts a 105% reserve ratio. Ethereum, not to be outdone, stands at 102%. And Solana, the nouveau riche of the blockchain, also at 102%. 🏦

In the stablecoin sector, Tether is over-collateralized at 106%, while USD Coin holds its ground at 100%. Even Dogecoin (DOGE), that whimsical memecoin, maintains a 101% reserve ratio. Ripple (XRP), too, is fully backed, with reserves exceeding customer balances by 6%. A portion of these assets, for each coin, is held in third-party custody, adding a layer of security as thick as a Russian winter coat. 🧥

But what of the users? Ah, those intrepid souls! Engagement with the ‘View My Audit’ feature has skyrocketed by 123% year-over-year. And the use of zero-knowledge (ZK) verification technology? Up 386%! It seems the traders are no longer content to sit idly by; they are actively participating in the audit process, using advanced tools to confirm the safety of their assets. How delightfully modern! 🚀

Building bridges to traditional finance

And now, the pièce de résistance: OKX’s foray into the hallowed halls of traditional finance. A partnership with Standard Chartered, no less, expanding into the European Economic Area. Institutional clients, those titans of industry, can now trade on OKX’s platform while their assets remain securely custodied with a Global Systemically Important Bank (G-SIB). A marriage of crypto liquidity and legacy finance security-how très chic! 💍

Underpinning these efforts is a security framework as robust as a Turgenev novel. ISO/IEC 27001:2022 certification for information security management and CSA STAR Level 1 attestation for cloud security. One can almost hear the auditors applauding. 👏

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2025-10-31 00:16