Read

<div class="cryptonews">
 <p class="is-style-lead">OKX has marked its one-year <a rel="noopener noreferrer nofollow" title="anniversary" href="https://thebittimes.com/tag/anniversary.html">anniversary</a> of consistently publishing Proof of Reserves, showcasing a commitment to transparency and trust.</p>
 <p>In the past year, the major player in the crypto world has been working hard to build trust and transparency, after the issues in the market caused by the FTX collapse. The company has been publishing their Proof of Reserves (PoR) monthly for a year, showing that it has enough assets to cover all user holdings, to help augment user trust.</p>
 <p>The latest PoR from OKX discloses that it has $12.5 billion in major cryptocurrencies like BTC, ETH and USDT, making up 103 percent of what users have put into the platform. With this, OKX has shown it has more than enough to cover all user funds, a key point in building customer loyalty.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Hot Off The Press #OKX is proud to publish our October 2023 #ProofOfReserves report demonstrating ≥100% reserves AND marking 12 consecutive months of leading the industry in openness and transparency. <br><br>Don't trust, verify: https://t.co/KH5Oa5GBFa pic.twitter.com/exDbIvrN0t</p>— OKX (@okx) October 30, 2023
   </blockquote>
  </div>
 </figure>
 <p>OKX isn’t just about holding cryptocurrencies; it is also a tech company making it easier for users worldwide to get involved in this space. In the last couple few years, the company has totaled over 50 million users and has become one of the largest crypto firms in the world.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> OKX reacts to new UK crypto regulations, reduces listed tokens
 </div>
 <p>OKX ran a survey in August, where 67 percent of the respondents said that monthly PoR is very important, showing this is something the crypto community values highly.</p>
 <p>OKX’s Chief Marketing Officer Haider Rafique spoke about the common concerns users have regarding centralized exchanges, highlighting the issues of security, solvency and downtimes. Rafique pointed out that 84 percent of OKX users agreed on the importance of PoR in alleviating solvency fears.</p>
 <p>Rafique also shed light on OKX’s custody model, explaining their use of a “hybrid custody model” that incorporates both cold wallets, controlled directly by OKX, and warm wallets, managed with third-party custodians. The CMO also hinted at future expansions, potentially tailoring custody solutions to different types of clients based on their unique needs.</p>
 <p>OKX has shown it is committed to setting a high standard for transparency and trust in the crypto world, and is willing to show proof to anyone who wishes to see it.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Crypto exchange OKX announces the delisting of several spot trading pairs
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/okx-celebrates-1-year-anniversary-of-proof-of-reserves-tbt68415.html">https://thebittimes.com/okx-celebrates-1-year-anniversary-of-proof-of-reserves-tbt68415.html</a></p>

OKX celebrates 1 year anniversary of Proof of Reserves

TheBitTimes

发布于 2023年10月30日的其他文章

XRP Price Continues to Rise: Will the Increase in Price Please XRP Investors?

Saudi Arabia’s NEOM partners with Animoca, eyes $50m deal

TokenFi: The Popular Project of Recent Days

XRP Faces a Big Obstacle After Whales Begin Sell-Offs

Shiba Inu Hypes Unique Self-Custodial Identity for SHIB Army

Bitcoin Cash Weekly News October 30 2023 by the Bitcoin Cash Foundation

订阅我们免费的电子期刊，获取每日最新加密领域动态！