OKX reported 139,865 BTC in customer assets in its 47th proof-of-reserves report. The snapshot was taken on Sept. 8, with customer Bitcoin holdings up 4.07% from the previous month. OKX also reported $27.4 billion in primary assets.
Its wallets held 153,151 BTC at the time of the snapshot, compared with 139,865 BTC in customer account balances. That put the reported Bitcoin reserve ratio at 109%.
https://x.com/okx/status/2105183395185676786?s=20
Bitcoin Holdings Rise as Reserve Ratio Falls
Customer Bitcoin balances were 134,399 BTC in the Aug. 11 snapshot. By Sept. 8, that figure had risen by 5,466 BTC to 139,865 BTC.
The reserve ratio moved in the other direction. It fell from 111% to 109% over the same period.
OKX counted 146,359 BTC as exchange-held assets. Another 6,792 BTC was held by third-party custodians. According to OKX, users can check those balances through the relevant custody providers.
The reserve ratio simply compares reported wallet assets with customer account balances. So, a ratio above 100% means the reported wallet holdings were greater than the corresponding customer balances.
Ether balances also moved higher. Customers held 1,785,866 ETH on Sept. 8, up from 1,725,703 ETH in August. That is an increase of 60,163 ETH, or about 3.49%.
https://x.com/WuBlockchain/status/2105205263221579831?s=20
OKX reported 1,796,024 ETH in wallet assets, giving Ether a 101% reserve ratio. Of that amount, 1,716,056 ETH was classified as exchange-held, while 79,968 ETH remained with third-party custodians.
USDT Records the Largest Percentage Increase
USDT saw the biggest percentage increase among the major assets highlighted in the report. Customer balances climbed from 8.118 billion USDT in August to about 8.493 billion USDT in September.
That adds roughly 375.2 million USDT to customer balances, a gain of about 4.62%. Even so, the reserve ratio slipped from 106% to 105%.
OKX reported 8.953 billion USDT in wallet assets. Exchange wallets accounted for about 8.818 billion USDT, with another 135.6 million USDT held by third-party custodians.
The other major assets remained at or above full coverage. USDC had a 100% reserve ratio, with 1.913 billion USDC in customer balances versus 1.922 billion USDC in wallets.
XRP had a 108% reserve ratio, while DOGE stood at 101%. Solana reached 105%, with 7.762 million SOL in wallets against 7.412 million SOL in customer accounts.
OKB was close to an exact match. Wallet assets stood at 19.75 million OKB, compared with 19.72 million OKB in customer accounts. The resulting reserve ratio was 100% after rounding.
OKX Uses zk-STARKs for Verification
OKX said its proof-of-reserves program covers 22 cryptocurrencies, including Bitcoin, Ether and major stablecoins. The $27.4 billion figure, meanwhile, refers to primary assets.
That number should not be read as a complete picture of every asset and liability across OKX’s business entities. Proof-of-reserves disclosures are also different from full financial audits, which can examine corporate debts, asset restrictions and other off-chain obligations.
For account-level verification, OKX uses zk-STARK technology. The system combines zero-knowledge proofs with Merkle-tree data, allowing users to check whether their accounts were included in the reported liabilities without exposing individual account information.
Users can download an inclusion proof from their OKX accounts and run the exchange’s open-source zk-STARK validator. The tool checks whether their balances were included in the liability calculations.
There are other checks as well. Users can verify total-balance and non-negative-balance constraints, while OKX publishes wallet-address files for its reserve assets. Those files allow users to check wallet signatures and balances against blockchain data.
The Sept. 8 report carries ID 502299735 and uses zk-STARK v2 for its reserve and liability files. Earlier snapshots covered Aug. 11, July 7, June 19, May 7, April 20 and March 3.
What the Latest Snapshot Shows
The report is a point-in-time disclosure. In other words, transactions completed after Sept. 8 are not reflected in these figures. OKX has continued publishing periodic reserve reports throughout 2026.
Across the major assets, customer balances generally moved higher. Bitcoin rose 4.07%, Ether gained 3.49%, and USDT increased 4.62% from the previous reporting period.
The reserve ratios did not all move with them. Bitcoin and USDT both recorded lower ratios, while Ether stayed at 101%.
That difference is worth keeping in mind when reading the figures. Customer balances and reserve ratios measure separate parts of the disclosure. More customer holdings do not automatically mean a higher reserve ratio because the percentage also depends on the amount of reported wallet assets.
The Sept. 8 report therefore adds another dated snapshot to OKX’s proof-of-reserves disclosures. At that point, the exchange reported wallet assets above customer balances for several major cryptocurrencies.
