Bitcoin News Today: OKX's $37.7B Reserves: Transparent Over-Collateralization Builds Trust

OKX has released its 35th Proof of Reserves (PoR) report, confirming $37.7 billion in total reserves as of September 2, 2025, with 100% or higher coverage for user-held Bitcoin, Ethereum, and stablecoins OKX posts $37.7b reserves in 35th audit - cryptonews.net^[1]. The report verifies that OKX maintains a 105% reserve ratio for Bitcoin, 103% for Ethereum, and 102% for Solana, ensuring the exchange holds more assets than required to cover user balances OKX posts $37.7b reserves in 35th audit - cryptonews.net^[1]. This marks an increase from the 34th report, which confirmed $33.7 billion in reserves as of August 18, 2025 OKX Confirms $33.7B in Assets with 34th Proof of Reserves^[3].

Bitcoin holdings rose by 3.67% to 125,083 BTC, with 119,372 BTC held directly by OKX and 12,458 BTC in third-party custody. Ethereum holdings declined by 2.01% to 1.704 million ETH, while USDT balances dropped 2.56% to 9.4 billion, reflecting a broader trend of reduced stablecoin reserves OKX posts $37.7b reserves in 35th audit - cryptonews.net^[1]. The reserve ratio for USDT remains at 105%, with OKX holding 9.9 billion in total wallet assets OKX posts $37.7b reserves in 35th audit - cryptonews.net^[1]. Among altcoins, Bitcoin Cash (BCH) maintained the highest coverage at 118%, while Dogecoin (DOGE) and XRP retained 101% and 108% reserve ratios, respectively OKX posts $37.7b reserves in 35th audit - cryptonews.net^[1].

OKX's custody model emphasizes a blend of direct and third-party custody. Over 90% of Bitcoin and 6% of Ethereum are held directly by the exchange, with the remainder in third-party custody. USDT's third-party custody accounts for 3.3%, while nearly all assets for tokens like APT, BCH, and LINK are managed directly OKX posts $37.7b reserves in 35th audit - cryptonews.net^[1]. The exchange employs zero-knowledge proofs (zk-STARK) and Merkle trees to verify reserves, ensuring transparency without disclosing user-specific balances Proof of Reserves | Cryptocurrency Asset Verification | OKX^[2].

The release coincides with the launch of OKX Pay, a stablecoin-based payment service introduced by CEO Star Xu at the TOKEN2049 conference. The service, operational in Singapore, allows users to earn up to 4% annual percentage yield (APY) and 3–4% cashback via QR code transactions. Built on OKX's X Layer Ethereum L2, OKX Pay aims to reduce cross-border payment costs and position stablecoins as a primary payment system OKX posts $37.7b reserves in 35th audit - cryptonews.net^[1]. Expansion plans include markets in Brazil, Europe, and the U.S.

Comparative analysis of OKX's PoR reports highlights a consistent trend of over-collateralization. From the 34th report ($33.7 billion) to the 35th ($37.7 billion), the exchange has maintained reserve ratios above 100% for major assets, reinforcing its commitment to liquidity and solvency. The methodology, which includes cryptographic verification and public on-chain wallet holdings, aligns with industry best practices for transparency Proof of Reserves | Cryptocurrency Asset Verification | OKX^[2]. While Bitcoin reserves grew, declines in Ethereum and stablecoin holdings suggest shifting user preferences or market dynamics. OKX's emphasis on third-party custody for a subset of assets further underscores its risk management strategy.