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Huobi and OKX spread their reservations after the FTX scandal

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The fallout from the FTX case and Alameda Research continues to spread across the bitcoin universe. Now two of the major bitcoin (BTC) and cryptocurrency exchanges have revealed their holdings of digital assets. On Saturday, November 12, Huobi and OKX disclosed the composition of their balance sheets.

In the case of Huobi, the company. disclosed than takes place in its cold and hot wallets about 32,000 bitcoins.274,000 ether (ETH), 820 million tether (USDT) and 9.7 billion tron (TRX), among other tokens. In total, the exchange holds a balance equivalent to about $3.5 billion at the time of publication of this article.

As reported by Huobi, the exchange also has positions in other altcoins such as dogecoin (DOGE), Ethereum Classic (ETC), Shiba Inu (SHIB), and XRP.

“To demonstrate our determination and commitment to promoting transparency, Huobi is acting now to disclose details of the balances of our hot and cold wallets and make this disclosure routine in the future,” Huobi explained in the statement in which it does not discriminate how much belongs to them and how much belongs to users.

OKX relies on Tether stablecoin and bitcoin.

In the case of OKX, the exchange presented its budget, which was reviewed by the Nansen study. The paper specifies that the main digital back-up resource is the Tether, which makes up 46 percent of its portfolio. In total, the company manages about $6 billion in funds. In other words, in Tether alone the company has, in its cold and hot portfolios, about $2.8 billion.

OKX cryptocurrency exchange reserve information.
Distribution of OKX’s assets, according to the report filed on Saturday, November 12. Source: OKX/ Twitter.

Regarding bitcoin, the exchange has a balance of 89,000 BTC and about 1 million ethers. OKX also did not discriminate which funds belong to users and which are its own. However, it clarified that the capital has not been moved for months.

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“Most of the addresses in our portfolios show that assets have not moved for months. We do not lend clients’ assets,” the bureau explained. In another widely circulated message, it added, “The portfolio on this board represents only a subset of our reserves. We will be conducting a test of the reserves with an external auditor in the coming weeks.”

As reported by CryptoNews, exchanges have begun to make their internal financial statements public following the FTX exchange’s debut and bankruptcy. Binance, Bitfinex y crypto.com are other exchanges that have disclosed how their internal balance sheets are set up.

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