Crypto exchange OKX announced a new proof-of-reserve program that will allow customers to verify their crypto holdings are safu on their platform.
🚨 Don’t trust, verify → OKX Proof of Reserves (PoR) is LIVE. 🚨
To set a new standard of transparency, risk management and user protection, we’re launching our first PoR.
You can now verify your assets are backed 1:1 on #OKX ⤵️
Details 🧵👇
— OKX (@okx) November 23, 2022
One of India’s most valuable exchanges, CoinDCX, also published proof-of-reserves. CoinDCX plans to post monthly updates related to its liabilities. A complete list of on-chain and off-chain wallets is now accessible as well.
Another Indian exchange, CoinSwitch, shared information also shared their proof-of-reserves. Interestingly, Shiba Inu ($SHIB) is their third-largest holding.
Coinbase ($COIN) CEO Brian Armstrong revealed the amount of Bitcoin held by Coinbase. In a Tweet, Armstrong reiterated that, as a public company, its financials are public.
If you see FUD out there – remember, our financials are public (we're a public company) https://t.co/ayzN0zaqgT
— Brian Armstrong (@brian_armstrong) November 22, 2022
We’ll update you as more exchanges conform to this new demand made by exchanges and investors alike. 🎉