OKX Proof of Reserves Report Shows Asset Shifts in May

The report highlights notable shifts in user balances across major cryptocurrencies. Bitcoin (BTC) holdings fell to 125,000 BTC, reflecting a 6% drop from the previous report on April 7. This translates to a reduction of roughly 7,987 BTC.

In contrast, Ethereum (ETH) balances climbed by 5.66%, rising by around 100,000 ETH to reach a total of 1.87 million ETH. The most substantial increase came from Tether (USDT), which jumped 11.46%, adding 899 million USDT to reach 8.75 billion USDT.

OKX reaffirmed its ongoing commitment to transparency through its PoR initiative, which remains central to its platform strategy. The exchange uses a Merkle Tree-based system, allowing users to independently verify that their assets are fully backed on-chain.

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This approach aims to uphold trust in the aftermath of past custodial failures in the crypto industry, while also setting a standard for transparency across the sector.

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