Crypto exchange OKX opens its balance sheet as sector scrambles to restore trust

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By Charlie Conchie Crypto exchange OKX has revealed the state of its balance sheet today to prove to customers it has not been gambling with their cash, as the industry scrambles to restore confidence in the wake of FTX’s collapse. OKX was among a host of crypto firms to commit to publishing ‘proof of reserves’ amid allegations that Sam Bankman-Fried’s failed FTX exchange had been funnelling customer cash into its sister trading firm. Seychelles-based OKX, the world’s second-largest crypto exchange by trading volume, is allowing customers to prove that their assets are backed 1:1 by the firm. …

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