Blockchain
OKX Proof of Reserves Ranked Highest Quality Among Major Exchanges as 11th Consecutive Monthly Reserves Report is Published
OKX, a leading global Web3 technology company and crypto exchange, has published its industry-best 11th consecutive monthly Proof of Reserves (PoR), showing balances of USD$11.2 billion in primary assets, as its PoR was given the highest quality rating among major exchanges.
OKX’s latest PoR comes days after Castle Island Ventures partner and blockchain and Proof of Reserves expert Nic Carter ranked OKX highest of all major centralized exchanges on its quality of Proof of Reserves. In his ranking, he cited OKX’s credibility, knowledge of leadership, demonstrated commitment to transparency and overall PoR quality as reasons for his positive assessment.
OKX’s PoR covers 22 commonly used digital assets and shows that OKX has maintained a reserve ratio exceeding 100% for 11 consecutive months across all those assets. In addition to BTC, ETH and USDT, the assets included are: USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX and UNI.
OKX’s current reserve ratios are as follows:
- BTC: 102%
- ETH: 103%
- USDT: 102%
OKX Global Chief Commercial Officer Lennix Lai said: “With our 11th consecutive Proof of Reserves report, we are reaffirming our unwavering commitment to greater transparency and trust within the crypto industry. At OKX, we believe that integrity is the cornerstone of our success, and our PoR stands as a testament to our dedication to safeguarding user assets. As we approach a full calendar year of consecutive PoR releases, we have never been more committed to continuing to raise the bar for transparency in our sector.”
In August, OKX conducted two Twitter surveys to measure the sentiment of the online community with regards to the importance of PoR and transparency. Poll results showed that 84% of respondents say monthly PoR reports are either ‘somewhat important’ or ‘very important‘ and 88% state that transparency is either ‘somewhat important’ or ‘very important’ when choosing which crypto platform to trust.
OKX has seen hundreds of thousands of users engage with its PoR, visit its PoR page and view their self-audits since first launching its PoR page in late 2022. The open-source verification tool allows users to independently verify OKX’s solvency and confirm their assets are backed by OKX reserves while maintaining their privacy.
OKX has published over 210,000 addresses for its PoR program, and will continue to allow the public to view its asset flows.
Users can view the latest PoR report, reserve ratios, and verify OKX’s solvency here.
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
The post FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers appeared first on HIPTHER Alerts.
Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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