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OKX In Progress Proof of Reserves After FTX “Typical Example”

OKX In Progress Proof of Reserves After FTX "Typical Example"

Major exchanges have begun to strengthen user trust, led by the “big brother” Binance. OKX is announcing they are working on publishing Proof-of-Reverse with a third-party auditor.

OKX In Progress Proof of Reserves After FTX "Typical Example" 2

The exchange is working with Nansen to verify portions of their reserves and wallet addresses, the announcement was made on Twitter.

It says that the portfolio in this dashboard is only part of the reserves.

FTX collapsed, and its consequences caused the companies involved to find solutions. Not only that, some reports suggest that FTX is trying to keep users’ funds when the exchange lost more than $600 million.

As Coincu reported, Bitfinex also recently announced Proof-of-Reverse.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.