In a groundbreaking disclosure, OKX has strengthened its reserves by unveiling its 14th balance sheet, indicating astounding user assets valued at $14.9 billion as of the snapshot taken on December 13th.
The focal point of this report is OKX’s commitment to safeguarding user-owned XRP tokens with strong coverage of 103%. This ensures robust support from the exchange’s reserves.
The coverage extends to an impressive 233.74 million XRP tokens, equivalent to a staggering value of $143.52 million. Notably, OKX’s XRP reserves exceed user funds by 7.673 million XRP, resulting in a surplus of 4.7 million.
XRP on OKX has increased by 300,000 tokens since the last report, leading to a 1% decrease in reserve ratio.
The report also highlights notable fluctuations in other digital assets, such as substantial increases in holdings, including 3,496 tokens. However, stablecoins, specifically USDT, saw a decrease of $161.72 million in OKX’s wallet assets, while USDC witnessed a decline of $42.315 million.
While OKX stands out with its substantial reserves, users are encouraged to understand the centralized structure of exchanges. The age-old adage, “Not your keys, not your crypto,” reinforces the importance of investors practicing wisdom and caution, even as major exchanges work to enhance reserve stability.
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