Global crypto exchange platform OKX released its fifth proof-of-reserves (PoR) report. In its latest report, OKX claims to have assets worth US$8.9 billion in the form of Bitcoin (BTC), Ether (ETH) and Tether (USDT). According to the PoR report, the reserve ratios of BTC, ETH, and USDT are 103 percent, 103 percent, and 102 percent, respectively. The release of this report comes after OKX decided to stop its services in Canada starting March 24. Citing the latest regulations in Canada, customers in that country must close their remaining open options, margin, perpetual and futures positions before June 22. On that date, the customer's fiat and crypto must also be withdrawn. OKX claims users' funds remain safe until they withdraw them. The crypto exchange also said the closure of its operations in Canada would only be temporary as it would work with local regulators to resolve the matter. While managing director Global Institutional at OKX, Lennix Lai, expressed the importance of cryptocurrency companies releasing PoR reports, to support transparency in this industry. “The blockchain and crypto/Web3 industry is built on technology that enables trustless transactions on public blockchains, and this inherent transparency is incredibly valuable,” he said. Many crypto exchanges such as Binance, Crypto.com, and Bybit have released Merkle-Tree based verification tokens to maintain industry integrity in the wake of the FTX collapse scandal. “The FTX crisis had a silver lining in that it made successful firms double down on security and transparency and motivated the industry to innovate in this area.” added Lai. Lai himself said, more than 300,000 OKX users have viewed asset reserves or verified their obligations in the OKX ecosystem.The new transparency mechanism will make the user's total savings balance visible to the public, while maintaining user privacy.