CoinEx updates its asset reserve ratio for more transparency

CoinEx, a leading cryptocurrency exchange, announced the update of its asset reserve ratio on June 24, 2024 at 15:00 (UTC+8). This improvement underscores CoinEx’s commitment to transparency, security, and trust within the cryptocurrency community.

By implementing the Merkle Tree structure, this procedure allows each user to check if their assets are included in the Merkle Treeauthenticating the validity of data for secure verification of asset reserves.

The latest data published by CoinEx shows that it maintains a reserve ratio of 1:1. CET reached 113.31%, while reserve ratios for major assets such as USDT, USDC, BTC and ETH have exceeded 100%. This means that for every dollar of assets deposited by users, CoinEx reserves at least one additional dollar to ensure that the platform has sufficient funds to meet users’ withdrawal demands.

Currently, CoinEx tests its reserve of CET, USDT, USDC, BTC, ETH and DOGE. The exchange always prioritizes the security of users’ assets 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 securing user funds and maintaining a healthy investment environment.

For more information on the asset reserve ratio update and the Merkle Tree structure, visit the CoinEx website.

Comprehensive measures for a safer experience

In addition to updating the asset reserve ratio, CoinEx is actively building its security system and maintains the “user first” principle. The 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 automatic alerts.

The exchange has also established a shield fund, dedicating 10% of trading commissions to the greater security of users’ assets against extreme risks. CoinEx has collaborated with leading blockchain security institutions to form a strategic alliance. All with the aim of assembling a top-level security team and building a solid fortress, equipping the platform with comprehensive security.

About CoinEx

The exchange was founded in 2017 and maintains a mission to benefit from the transformative power of blockchain technology, guided by the brand philosophy of “user first.” CoinEx offers a wide selection of trading options for bitcoin, stablecoins and over 1,000 cryptocurrencies.

The platform ensures fast and stable performance in over 200 countries, along with seamless deposit and withdrawal processes. This exchange is dedicated to providing a gateway to the world of cryptocurrencies with multilingual support for global users.

Committed to meeting the diverse needs of all users, it has expanded its offering to include a range of derivatives such as futures, margin trading, Automated Market Making (AMM), financial accounts, strategic trading and crypto loans, enhancing the comprehensive portfolio of products and services. For the users.

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