Report

OKX holds $10B in BTC, ETH, and USDT, Tradecurve to Implement Proof of Reserves (PoR)

By Guest Writer • Published: 05 Jun 2023 • 9:15

Since the collapse of FTX in November 2022, cryptocurrency exchanges have looked to make their operations more transparent to regain lost customer trust. Publishing reports of the assets held in exchange reserves has become common ground among the leading crypto exchanges.

Leading cryptocurrency exchange OKX has announced that it holds more than $10 billion in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) in its reserve. Similarly, Tradecurve, a hybrid exchange emerging to replace the likes of OKX, will also implement Proof of Reserves (PoR) to be more transparent than most centralised crypto exchanges.

OKX Holds $10 Billion in BTC, ETH, and USDT – Seventh PoR Report

In its seventh monthly proof-of-reserves (PoR) report, OKX announced that the exchange now has a $10 billion reserve in Bitcoin, Ethereum, and Tether. According to the audit, the exchange reserve ratios for the three cryptocurrencies are 103% each.

The $10 billion reserve of OKX in May represents a 33% increase from January when the Seychelles-based crypto exchange held $7.5 billion in its reserve. However, the figure represents a $400 million drop off from the $10.4 billion OKX published in its April PoR report.

As part of OKX’s plans to foster transparency, OKX has implemented a Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology that allows users to independently verify the solvency of the exchange but keeps the balances of its users anonymous. OKX has also continued to expand its reach, applying for licenses in France, while outlining plans to set up a regional office in Turkey.

Tradecurve will Implement Proof of Reserves (PoR)

Like OKX, Tradecurve, a new decentralised trading platform, will implement a next-gen Proof of Reserves (PoR) infrastructure to compete with the highest industry standards for transparency and security. Tradecurve has emphasised operating with the highest level of security, privacy, and transparency as it aims to become a top three cryptocurrency exchange.

Where Tradecurve beats OKX is that it is creating the first blockchain trading platform where users can trade crypto, forex, option, CMDs, stocks, and other global financial instruments. With a platform that integrates the global foreign exchange (FX) markets with a daily turnover of $7.5 trillion and the $632 trillion over-the-counter (OTC) derivatives market into Tradecurve, many market experts have tipped Tradecurve to become come of the top crypto exchanges, challenging established players like OKX, Binance, Kraken, and Coinbase.

The platform will also create an environment where you can trade in full anonymity to cater to the needs of privacy-conscious investors. Unlike OKX, Tradecurve will give users the option to open accounts with no KYC restrictions and also manage the private keys to their digital assets. These features would make Tradecurve one of the most transparent, yet privacy-centric cryptocurrency exchanges in the crypto space.

Tradecurve is now in the third stage of presale selling millions of tokens, following massive support from investors in the previous two stages. Investors can join the presale, buying the native Tradecurve token, TCRV, for $0.015 per token.

For more information about the Tradecurve presale:

Click Here For Website

Click Here To Buy TCRV Presale Tokens

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