Cryptocurrency Exchange OKX Holds $10B in Bitcoin, Ethereum and USDT
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Crypto exchange OKX has just published its seventh monthly reserve test report according to which it holds reserves of $10 billion in Bitcoin, Ethereum and the stablecoin USDT.

In total, the report refers to 22 digital assets, including USDC, Dogecoin, XRP and others. According to the document, clients' funds on the platform are more than 100% insured.

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The exchange classifies cryptocurrencies "offering strong liquidity and market acceptance" as reserve assets.

The exchange has said:

"Proof of Reserves (PoR) ensures that custodians hold sufficient funds to cover all users' assets on their platform and deposit liabilities while remaining solvent."

To audit balances, the platform takes a snapshot and uses an encrypted Merkle tree system to protect against unauthorized access.

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