OKX Publishes 34th Proof of Reserves Report, $33.7 Billion in Assets Verified

OKX, a cryptocurrency exchange, has released its 34th Proof of Reserves report, verifying $33.7 billion in assets for 22 cryptocurrencies, including Bitcoin and Ethereum. The reserve ratio for these assets exceeds 100%, with major assets like Bitcoin at 106%. Experts note that OKX's regular publication of PoR reports increases user confidence in the exchange and builds trust in the industry.

OKX, a prominent cryptocurrency exchange, has taken significant steps to solidify its position in the crypto industry by unveiling a $100 million X Layer Ecosystem Fund. The initiative aims to support global builders who are focused on developing the next wave of on-chain applications. This announcement comes just days after OKX's 34th Proof of Reserves (PoR) report, which verified $33.7 billion in assets for 22 cryptocurrencies, including Bitcoin and Ethereum.

The X Layer Ecosystem Fund, as announced by OKX's CEO, Star Xu, is designed to support long-term builders with a vision for real technology. Xu emphasized that the fund is not for those seeking quick gains through pump-and-dump tokens. The fund will support projects that align with OKX's long-term goals of improving the crypto ecosystem.

In addition to the ecosystem fund, OKX has announced major upgrades to its X Layer network. The network, built in partnership with Ethereum-based layer-2 protocol Polygon, is transitioning into a public blockchain optimized for payments and Decentralized Finance (DeFi). This upgrade includes the optimization of the economic model of its OKB Gas Token, fixing the total OKB supply at 21 million tokens and phasing out the OKTChain by August 13, 2025.

The OKX X Layer network, which uses Zero Knowledge (ZK) for security, promises to improve transaction speed and affordability. The network allows users to interact with Decentralized Applications (dApps), trade digital assets, and participate in various blockchain activities. Haider Rafique, the Chief Marketing Officer of OKX, noted that the network is designed for forward-thinking creators who are developing applications to onboard millions of people onto the blockchain.

OKX's regular publication of PoR reports has been instrumental in building user confidence and trust in the industry. The latest report, released on July 2, 2025, verifies $33.7 billion in assets, with a reserve ratio exceeding 100% for major assets like Bitcoin. This transparency is a testament to OKX's commitment to maintaining high standards of security and reliability.

References:
[1] https://thecoinrise.com/okx-unveils-100-million-x-layer-ecosystem-fund-details/