OKX’s 32nd Proof of Reserves Report Highlights Decline in BTC and USDT Holdings

On June 30, OKX released its 32nd proof-of-reserves report, revealing a significant decrease in user holdings of Bitcoin (BTC) and Tether (USDT). Despite the decline, the exchange maintains reserves exceeding 100% for all major assets, with Ethereum Classic (ETC) leading at a 107% reserve ratio. Bitcoin reserves stand at 105%, even after a 3.48% drop in customer-held BTC, equivalent to 4,360 BTC or approximately $470 million at current prices. USDT holdings also saw a reduction, though the exact figures were not fully disclosed in the report. This report underscores OKX's commitment to transparency and maintaining robust reserve ratios, even as user holdings fluctuate. The exchange continues to uphold its reputation as a trusted platform in the cryptocurrency space, ensuring that customer assets are fully backed by reserves.

OKX's 32nd Proof of Reserves Shows Decline in BTC and USDT Holdings

OKX released its 32nd proof-of-reserves report on June 30, revealing a notable drop in user holdings for Bitcoin (BTC) and Tether (USDT). The exchange maintains reserves exceeding 100% for all major assets, with ethereum Classic (ETC) leading at a 107% reserve ratio. Bitcoin reserves stand at 105%, despite a 3.48% decline in customer-held BTC—equivalent to 4,360 BTC or roughly $470 million at current prices.

USDT holdings also fell by 1.44%, translating to a $126.4 million reduction. The report underscores OKX's solvency but signals shifting user behavior amid broader market trends. Reserve ratios for ETH, SOL, and other assets remain robust, reflecting the platform's liquidity safeguards.

Pi Network Price Gains Amid Significant Coin Withdrawals from OKX

Pi Coin has edged 2% higher, attempting to breach the $0.50 resistance level after a prolonged slump from its May peak of $1.65. The uptick follows a notable transaction: 2.8 million Pi coins were purchased and withdrawn from OKX, part of a broader three-day exodus totaling 12 million coins from the exchange.

Centralized exchanges currently hold 356 million PI coins, with OKX accounting for 19.7 million. A looming token unlock in July threatens to flood the market with 318 million Pi ($160 million worth), potentially exacerbating selling pressure unless demand accelerates. Bulls are defending $0.47 support as bears cap upward momentum.