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OKX Bitcoin User Holdings Rise 9.66% to 156,600 BTC in 49th Proof-of-Reserves

OKX’s 49th proof-of-reserves report, based on a Nov. 1 snapshot, shows user Bitcoin holdings rose 13,800 BTC, or 9.66%, to 156,600 BTC from Oct. 3, worth over $1 billion at listed prices. Ethereum holdings increased 2.95% to 1.92 million ETH, while USDT holdings fell 9% to 7.96 billion. Binance co-founder Yi He said Binance has generated zero-knowledge proofs for its Oct. 31 snapshot covering 10 tokens including BTC, ETH and USDT, with a new snapshot due Nov. 4.

Original source

AI take

The divergence inside OKX's snapshot is the signal: users added Bitcoin and Ethereum over the period while trimming USDT, a shift in reserve composition rather than a uniform inflow. That matters because proof-of-reserves reporting is becoming a competitive disclosure standard, with Binance's zero-knowledge work on a separate snapshot pointing the same way. What remains open is whether these attestations converge on comparable methodology and cadence, since holdings moves at a single exchange say little on their own without that context.

Generated by AI for reference only.

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