In a groundbreaking revelation, OKX has bolstered its reserve stability, with the unveiling of its 14th reserve certificate, demonstrating an astounding $14.9 billion in user assets as of the snapshot taken on Dec. 13.
The pivotal aspect of this report centers on OKX's commitment to fortifying user-held XRP tokens with robust 103% coverage, ensuring a solid backing by the exchange's own reserves.
The assurance extends to an impressive 233.74 million XRP tokens, equivalent to a staggering $143.52 million in value. Remarkably, OKX's reserves in XRP surpass user funds by 7.673 million XRP, constituting a 4.7 million surplus.
Significantly, user positions in XRP on OKX have surged by 300,000 more than reserves since the last report, leading to a 1% drop in the reserve ratio.
The report also illuminates notable fluctuations in other digital assets, such as a substantial increase in holdings, including 3,496 Bitcoin (BTC) and approximately 58,492 Ethereum (ETH). However, in the stablecoin realm, USDT experienced a decrease of 161.72 million in OKX Wallet assets, while USDC witnessed a decrease of 42.315 million.
While OKX stands out for its significant reserves, users are urged to recognize the centralized structure of exchanges. The age-old adage, "not your keys, not your crypto," underscores the importance of investors exercising prudence and caution, even as major exchanges bolster their reserve stability.
Tomiwabold Olajide
Yuri Molchan
Mushumir Butt
