OKX has $7.5 billion in reserves, and these reserves do not contain its native token, according to a proof of reserves published by the exchange on Thursday.
This is the third proof of reserves OKX has published, but the first to show the exact breakdown of assets.
The report shows that the exchange is overcollateralized with a reserve ratio of 105% for bitcoin (BTC), 105% for ether (ETH), and 101% for USDT.
OKX publishing the exact asset mix comes as a response to an CryptoQuant developing a metric to measure the “cleanliness” of reserves. CryptoQuant defines this as how reliant an exchange is on its native token. CryptoQuant’s data shows that OKX’s reserves are 100% clean. Binance, meanwhile, is 87% clean, Bitfinex is 70% clean, and Huobi is 60% clean.
(By Sam Reynolds)
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