OKX, XRP Holdings 'Jump' by 33%... "More than Customer Balances"

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According to the latest Proof of Reserves (PoR) report released by global cryptocurrency exchange OKX, the exchange's XRP holdings have surged by 33% compared to the beginning of the year.

According to crypto media outlet The Crypto Basic on September 30 (local time), the aggregation results of OKX's 47th Proof of Reserves report confirmed that the amount of XRP held in the exchange's wallets was approximately 244.52 million XRP. This figure represents an over-holding of 108% compared to customer deposits of 227.09 million XRP, indicating a 33% increase in XRP holdings within the exchange compared to the beginning of the year.

A stable reserve ratio exceeding 100% was maintained across all 22 major supported virtual assets disclosed by OKX. As of the September 8 snapshot, the total primary assets held by OKX amounted to approximately $27.4 billion. By asset, the Proof of Reserves ratio for Bitcoin (BTC) was 109% (holdings: 153,151 BTC), Ethereum (ETH) was 101% (holdings: 1,796,024 ETH), and Tether (USDT) was 105% (holdings: 8.95335 billion USDT).

The exchange utilizes zero-knowledge proof (zk-STARK) technology to allow users to independently verify their asset deposits without disclosing sensitive personal account information. Of the 244.52 million XRP in the exchange's wallets, 238.33 million XRP are held in the exchange's own wallets, and approximately 6.19 million XRP are distributed and stored through third-party custody, securing liquidity in preparation for bankruptcy risks.

Experts analyze that the 33% increase in XRP balances within the exchange compared to the beginning of the year indicates a continuous inflow of institutional and individual investors into the exchange. By maintaining an over-reserved amount exceeding customer deposits by 108%, thus alleviating concerns about insolvency, it is expected that liquidity provision and trading stability in the derivatives and spot markets will be further strengthened.

[Article Key Summary]

-OKX's 47th PoR report showed XRP holdings surged by 33% from the beginning of the year to approximately 244.52 million XRP.

-The reserve ratio against customer deposits was 108%, proving the ability to pay out over 100%.

-A total of $27.4 billion in assets, including Bitcoin at 109%, and Ethereum at 101%, were verified using zero-knowledge proof.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*