BTC

$95741.363

-1.64%

ETH

$3327.035

-0.99%

XRP

$2.253

-0.07%

BNB

$658.493

-0.72%

News

OKX’s Reserve Certificate Showed That It Has 7.5 Billion US Dollars In Reserves.

January 19, 2023 - Around 2 mins mins to read
Key Points:
  • Proof-of-Reserves OKX According to reports, the platform presently has $7.5 billion in clean assets, excluding native tokens.
  • According to OKX’s Chief Marketing Officer, the launch of stablecoins is not presently on the company’s agenda.
According to OKX Proof-of-Reserves-Report, the encryption exchange OKX issued the third reserve certificate on January 19, revealing the exact details of assets for the first time. 
OKX's Reserve Certificate Showed That It Has 7.5 Billion US Dollars In Reserves.

OKX holds $7.5 billion in reserves, which do not include its native tokens; the exchange is overcollateralized, with a reserve ratio of 105% for BTC, 105% for ETH, and 105% for USDT. The current gold rate is 101%.

The exact portfolio is OKX’s response to CryptoQuant’s development of a metric to measure the “cleanliness” of reserves. CryptoQuant defines it as an exchange’s reliance on its native token. The platform’s reserves, according to CryptoQuant, are completely clean. Meanwhile, Binance has 87% clean reserves, Bitfinex has 70% clean reserves, and Huobi has 60% clean reserves.

OKX's Reserve Certificate Showed That It Has 7.5 Billion US Dollars In Reserves.

The exchange’s Chief Marketing Officer has stated that the introduction of stablecoins is not currently on the company’s to-do list. This is in contrast to other exchanges, who have introduced their own versions of the cryptocurrency despite facing a variety of challenges.

According to the Chief Marketing Officer, he does not feel that any trading venue, centralized or decentralized, has any business establishing their own asset that is traded. This is the case even if the commodity in question is a stable asset in which people settle. There are several instances of competing interests. Everything circles back to the concept of our indigenous tokens. He made it quite clear that a native token sale will not be included into the structure of the platform in any way.

The exchange does operate a venture fund, which is known as OKX Ventures; but, as the  OKX’s Chief Marketing Officer indicated, this company has its own balance sheet and managerial staff. And because OKX Ventures is a traditional fund with a traditional structure, the firm makes investments in traditional currencies.

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.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

News

OKX’s Reserve Certificate Showed That It Has 7.5 Billion US Dollars In Reserves.

Key Points:
  • Proof-of-Reserves OKX According to reports, the platform presently has $7.5 billion in clean assets, excluding native tokens.
  • According to OKX’s Chief Marketing Officer, the launch of stablecoins is not presently on the company’s agenda.
According to OKX Proof-of-Reserves-Report, the encryption exchange OKX issued the third reserve certificate on January 19, revealing the exact details of assets for the first time. 
OKX's Reserve Certificate Showed That It Has 7.5 Billion US Dollars In Reserves.

OKX holds $7.5 billion in reserves, which do not include its native tokens; the exchange is overcollateralized, with a reserve ratio of 105% for BTC, 105% for ETH, and 105% for USDT. The current gold rate is 101%.

The exact portfolio is OKX’s response to CryptoQuant’s development of a metric to measure the “cleanliness” of reserves. CryptoQuant defines it as an exchange’s reliance on its native token. The platform’s reserves, according to CryptoQuant, are completely clean. Meanwhile, Binance has 87% clean reserves, Bitfinex has 70% clean reserves, and Huobi has 60% clean reserves.

OKX's Reserve Certificate Showed That It Has 7.5 Billion US Dollars In Reserves.

The exchange’s Chief Marketing Officer has stated that the introduction of stablecoins is not currently on the company’s to-do list. This is in contrast to other exchanges, who have introduced their own versions of the cryptocurrency despite facing a variety of challenges.

According to the Chief Marketing Officer, he does not feel that any trading venue, centralized or decentralized, has any business establishing their own asset that is traded. This is the case even if the commodity in question is a stable asset in which people settle. There are several instances of competing interests. Everything circles back to the concept of our indigenous tokens. He made it quite clear that a native token sale will not be included into the structure of the platform in any way.

The exchange does operate a venture fund, which is known as OKX Ventures; but, as the  OKX’s Chief Marketing Officer indicated, this company has its own balance sheet and managerial staff. And because OKX Ventures is a traditional fund with a traditional structure, the firm makes investments in traditional currencies.

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.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News