CoinEx, a leading crypto exchange, announced the update of its Asset Reserve Ratio on 24th June 2024 15:00 (UTC+8). This advancement underlines CoinEx’s commitment to enhancing transparency, security, and trust within the cryptocurrency community.
Through the deployment of the Merkle Tree structure, this procedure allows every user to verify their assets whether included in the Merkle Tree, to authenticate the data’s validity for secure verification of asset reserves. The latest data published by CoinEx, shows it holds a 1:1 reserve ratio. CET reached 113.31%, while the reserve ratios for mainstream assets such as USDT, USDC, BTC, and ETH have all exceeded 100%. This means for every $1 of assets deposited by users, CoinEx reserves at least an additional $1 to ensure the platform has sufficient funds to meet user withdrawal demands. Currently, CoinEx proves its reserve of CET, USDT, USDC, BTC, ETH, and DOGE. CoinEx always prioritizes user asset security and has maintained a 100% reserve ratio for the past seven years since 2017. The update is an essential metric that reflects CoinEx’s dedication to ensuring user funds’ safety and maintaining a healthy investing environment.
For more information on the updated Asset Reserve Ratio and the Merkle Tree structure, please visit here.
All-rounded Security Measures for a Safer Experience
Aside from updating its Asset Reserve Ratio, CoinEx is actively constructing its security system and upholds the “User First” principle. The CoinEx security team uses a variety of advanced mechanisms to balance convenience and security in hot and cold wallets, including multi-signature protocols, physical separation of systems, real-time monitoring, and automated alerts. CoinEx also established a Shield Fund which dedicates 10% trading fees to further securing the integrity of user assets against extreme risks. CoinEx has collaborated with top blockchain security institutions to form a strategic security partnership in order to assemble a top-tier security team and build a solid fortress, equipping the platform with comprehensive security.
About CoinEx
CoinEx was founded in 2017 and upholds the mission to leverage the transformative power of blockchain technology, guided by “user first” brand ethos. CoinEx boasts a selection of trading options for BTC, stablecoins, and 1,000+ cryptocurrencies. The platform ensures rapid and stable performance across 200+ countries, alongside seamless deposit and withdrawal processes. CoinEx is dedicated to providing a gateway to the cryptocurrency world with multi-language support for global users. Dedicated to meet the diverse needs of all users by expanding the offerings to include a range of derivatives like Futures, Margin Trading, Automated Market Making (AMM), Financial Accounts, Strategic Trading, and Crypto Loans, enhancing users’ comprehensive portfolio of products and services.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
