In December, OKX reported that its BTC holdings were 130,936 (minus 8,992 BTC), while its USDT and ETH holdings had increased.
The exchange reported 130,936 BTC in user assets, which represents an 8,992 BTC decrease from the figures reported in November. Conversely, Ethereum’s holdings increased by 85,265 to 1.765 million ETH. Nevertheless, USDT balances increased by 1.91 billion to 8.56 billion, indicating a 28.79% monthly increase.
The exchange maintains a 105% Bitcoin reserve ratio, and the most recent data confirms the entire underpinning across all assets. This implies that OKX maintains 105 BTC in its purses for each 100 BTC in user deposits. The report offers a comprehensive analysis of the assets in third-party custody and those held directly by the exchange.
In December, the decrease in Bitcoin holdings is indicative of the broader market trends. This modification increased the total Bitcoin user assets of OKX to 130,936 BTC. The exchange holds 124,699 BTC directly, while 12,312 BTC are in third-party custody. OKX maintains 137,011 BTC in total wallet assets, which serves as an additional buffer above user deposits, as a result of its 105% reserve ratio.
Bitcoin holdings experienced a decline, while other significant assets on OKX experienced substantial growth. The exchange maintained a 102% reserve ratio, and Ethereum assets increased by 85,265 ETH to reach 1.765 million ETH. This implies that OKX has 1.807 million ETH in wallet assets, which are divided between 1.630 million ETH on the exchange and 176,527 ETH in third-party custody.
The USDT holdings experienced the most significant percentage increase, increasing by 1.91 billion to 8.56 billion USDT and representing a 28.79% monthly gain. OKX holds 8.76 billion USDT in total wallet assets, and the stablecoin maintains a 102% reserve ratio.
OKX maintains varying reserve ratios for its supported cryptocurrencies, with Bitcoin Cash (BCH) exhibiting the maximum coverage at 113% of user deposits. The reserve ratios of the exchange for main cryptocurrencies provide a clear indication of its risk management: Bitcoin at 105%, Ethereum at 102%, and Solana at 103%. These ratios indicate that OKX maintains between $102 and $113 in genuine assets for each $100 in user deposits.
XRP and EOS, among other altcoins, both maintain reserve ratios of 107%, while Dogcoin is at 101%. This consistency in over-collateralization is also evident in lesser market cap assets, with the majority of them maintaining ratios between 100% and 105%.
In comparison to volatile cryptocurrencies, the exchange maintains lesser reserve ratios for stablecoins. USDT maintains a modest buffer at 102%, while USDC matches user deposits exactly at 100%.
The 102% ratio for USDT is equivalent to over 8.76 billion USDT in wallet assets versus 8.56 billion in user deposits. This entails the retention of an additional 42,213 ETH in addition to user deposits for ETH.
OKX allocates its assets between direct exchange custody and third-party custody services, with the majority of assets being direct exchange custody. 124,699 BTC are under direct exchange authority for Bitcoin, while 12,312 BTC are held by third-party custodians.
The custody pattern is contingent upon the nature of the asset. There is a greater proportion of Ethereum in third-party custody, with 176,527 ETH held externally, which accounts for approximately 10% of the total holdings. USDT adheres to a comparable paradigm, with 321 billion USDT, or approximately 3.7% of its holdings, maintained in third-party possession. OKX maintains direct exchange control over nearly all assets for tokens such as APT, BCH, and LINK.
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