OKX Released The Second Proof-of-Reserve Report
Key Points:
According to data from the OKX official website, the reserve ratios of BTC, ETH, and USDT all exceed 100%, which are 101%, 103%, and 101%, respectively.
In addition, OKX promises to release PoR reports regularly, and the next report will be released before January 20, 2023. Users can view the results of the two PoR audits on the page and use the self-inspection function and open-source tools to verify their assets on the exchange.
When self-verifying assets on the chain, they can also download the data files of the two audits.
One notable update for Ethereum holders is that the exchange is now opening a Flash Deal that allows users to stake ETH with an APR of up to 110%.
According to Coincu’s latest update, the exchange is doing wallet maintenance, it will be transferring coins and tokens between the exchange wallet addresses over the next 24 hours.
However, Paul Munter, the acting head accountant of the US Securities and Exchange Commission (SEC), has investors very wary when advising on a cryptocurrency company’s Proof-of-Reserves.
He asserted that the proof of reserve report from Binance, the world’s largest exchange at the moment, didn’t address the effectiveness of internal financial controls, nor did it provide an opinion or assurance conclusion, nor did it attest to the accuracy of the figures.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
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