OKX’s latest Proof of Reserves report offers a detailed look at the movement of user balances across major cryptocurrencies. Notably, Bitcoin holdings saw a 6% decline from April 7th, dropping to 125,000 BTC with a reduction of approximately 7,987 BTC. In contrast, Ethereum balances surged by 5.66%, reaching a total of 1.87 million ETH. Tether (USDT) experienced the largest increase at 11.46% with a substantial jump of 899 million USDT, bringing its total to 8.75 billion USDT. This commitment to transparency is crucial for OKX’s platform strategy, employing a Merkle Tree-based system that allows users to independently verify asset backing on-chain. This initiative aims to build trust in the face of past failures within the industry and set a new standard for transparent practices across the crypto sector.