OKX Customer Bitcoin Balance Climbs 13,800 BTC in Reserve Snapshot

OKX’s customer Bitcoin (BTC) balance increased by 13,800 BTC between its October and November reserve snapshots, while its reserve ratio slipped as customer balances grew faster than listed wallet assets.

Customer accounts held 156,609 BTC in the latest snapshot, compared with 142,809 BTC in the earlier one, a 9.66% increase. The snapshots were captured at noon ET (16:00 UTC) on Oct. 2 and Oct. 31. They show balances at two points in time, not how much BTC customers deposited or withdrew during the month.

OKX listed 169,755 BTC in wallet assets at the Oct. 31 snapshot, up from 156,475 BTC on Oct. 2. That gain of 13,280 BTC was smaller than the increase in customer balances. The exchange’s Bitcoin reserve ratio fell to 108% from 110%, although listed wallet assets exceeded customer balances in both snapshots.

The gap between listed Bitcoin assets and customer balances narrowed to 13,146 BTC from 13,666 BTC. OKX includes assets held by third-party custodians in its wallet totals. At the latest snapshot, those custodians held 7,163 BTC of the listed Bitcoin assets.

Customer balances for other assets moved in different directions. Ether (ETH) rose by 54,879 ETH to 1,916,904 ETH, from 1,862,025 ETH in the earlier snapshot. Tether (USDT) fell by 786,549,783 tokens to 7,955,760,726, from 8,742,310,509.

Those changes describe the assets held in customer accounts at the two capture times. The comparison does not establish net deposits to OKX or when during the month the balances changed.

OKX published the figures Nov. 2 in its 49th monthly proof-of-reserves report. The process compares customer balances with listed wallet assets at a specific time and lets customers check whether their balances were included. The preceding reserve snapshot showed 142,809 BTC in customer balances.