The audit shows that the reserve ratios for bitcoin (BTC), ether (ETH), and Tether’s USDT are at 101%, 103%, and 101%, respectively.

OKX published its first POR audit last month, showing more than 100% ratios for BTC, ETH, and USDT 100%. The exchange noted that its Merkle tree PoR program covers three major assets, including BTC, ETH, and USDT, while Nansen’s dashboard covers additional assets.

OKX to Publish PoR Monthly

OKX also promised to publish its PoR monthly on the 22nd day of each month “as part of its commitment to transparency.”

According to the announcement, the company has introduced new features that allow users to self-verify and download existing and historical data.

“New features for OKX’s PoR also allow users to view OKX reserve ratios for new and historical data, and when they self-verify on-chain assets, users also can now download the files containing new and historical data,” OKX said

The Seychelles-based crypto trading platform said it published more than 23,000 addresses and will continue to use these addresses to enable the public to audit asset flows to show transparency of its publication.

“Publishing PoR results on a monthly basis strengthens our commitment to lead the industry when it comes to transparency and trust. At OKX, we believe that PoR should be verifiable via open source tools so that users can self-verify the balances and ownership of our reserve addresses,” OKX CMO Haider Rafique said.

Crypto Firms Publish PoR in Transparency Move

Meanwhile, the move by crypto exchanges to publicly publish their PoR audit is gradually gaining recently following FTX’s fiasco.

FTX faced a liquidity crunch and filed for bankruptcy in November after its founder and former CEO Sam Bankman-Fried (SBF) allegedly used customers’ assets on the platform to fund his appetite for luxury properties and speculative investments. As a result, several crypto exchanges are publicly publishing their PoR to gain customers’ trust.

(By William A. Frederick)