Since the FTX collapse, exchange reserves and transparency have become critical market concerns. By November, many exchanges began publishing wallet addresses and proof-of-reserves documentation.
Binance—the world's largest exchange by volume—disclosed wallet addresses in early November. Others like OKX, Bitfinex, KuCoin, Crypto.com, Deribit, and Bybit followed with audits or asset proofs.
Exchange Reserve Trends Over One Month
Nansen data reveals:
- Binance reserves dropped 18.24% ($638B → $521.6B)
- OKX increased 11.72% (+$680M)
- Crypto.com surged 22.5% (+$540M)
- Deribit suffered the steepest decline (-55.53%)
Reserve Cleanliness Rankings
(defillama.com data)
| Exchange | Cleanliness Score |
|---|---|
| OKX | 100% |
| Deribit | 100% |
| Huobi | 68.25% |
| Bitfinex | 64.48% |
Key Insight: Lower scores indicate higher platform token reliance (e.g., FTT at FTX), increasing systemic risk.
Asset Composition Analysis
(Nansen data)
Top performers:
- Deribit: 97%+ in BTC/ETH (specialized in options)
- Bitfinex: 50%+ BTC
- OKX & Crypto.com: ~50% BTC/ETH
Lowest BTC/ETH ratios:
- Gate (~29%)
- KuCoin (~19%)
- Huobi (~12%)
Why Transparency Matters
User fund security parallels blockchain security—without it, DeFi/NFT ecosystems collapse. Exchanges must prioritize:
- Asset沉淀 (liquidity retention)
- Reserve diversification
- Regular audits
👉 Explore secure trading platforms
FAQ Section
Q: How can users verify exchange reserves?
A: Check published wallet addresses on blockchain explorers and compare with audit reports.
Q: What makes OKX's reserves exceptionally clean?
A: Unlike competitors, OKB (its platform token) isn't used to artificially inflate reserves.
Q: Why do BTC/ETH ratios matter?
A: Higher proportions indicate stronger collateralization against market volatility.
OKX is a global Web3 ecosystem serving 20M+ users, recognized for its secure trading platform, Web3 wallet, and OKC blockchain. Partnered with Manchester City, McLaren F1, and Tribeca Festival.
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