CoinEx, a leading cryptocurrency exchange, has announced an update to its Asset Reserve Ratio at 16:00 on June 24, 2024 (UTC time). This progress underscores CoinEx’s commitment to enhancing transparency, security, and trust within the cryptocurrency community.
Through the implementation of the Merkle Tree structure, this process allows every user to verify their assets are within the Merkle Tree, to validate the data to verify the security of asset reserves. product. The latest data published by CoinEx shows that it has a reserve ratio of 1:1. CET reached 113.31%, while the reserve ratio for popular assets such as USDT, USDC, BTC and ETH all exceeded 100%. This means that for every $1 in assets deposited by users, CoinEx reserves at least $1 more to ensure the platform has enough funds to meet users’ withdrawal needs. Currently, CoinEx demonstrates reserves of CET, USDT, USDC, BTC, ETH and DOGE. CoinEx has always prioritized the security of users’ assets and 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 safety for users’ money and maintain a healthy investment environment.
For more information on the updated Asset Reserve Ratio and the Merkle Tree structure, please visit here.
Comprehensive security measures for a safer experience
Besides updating the Asset Reserve Ratio, CoinEx is actively building its security system and maintaining the “Users 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 automatic warning. CoinEx also established a Protection Fund that sets aside 10% of transaction fees to further ensure the integrity of user assets against extreme risks. CoinEx has collaborated with leading blockchain security organizations to form a strategic security partnership to assemble a top-notch security team and build a strong fortress, equipping the platform with security capabilities. comprehensive confidentiality.
Introducing CoinEx
CoinEx was founded in 2017 and maintains its mission to leverage the transformative power of blockchain technology, guided by its “users first” brand ethos. CoinEx boasts a wide range of trading options for BTC, stablecoins, and over 1,000 cryptocurrencies. The platform guarantees fast and stable performance across over 200 countries, alongside seamless deposit and withdrawal processes. CoinEx is dedicated to providing a gateway to the world of cryptocurrency with multilingual support for global users. Dedicated to meeting the diverse needs of all users by expanding services to include a variety of derivatives such as Futures, Margin Trading, Automated Market Making (AMM), Financial Financing, Strategic Trading and Cryptocurrency Lending, enhancing a comprehensive portfolio of user products and services.
Disclaimer: This is a promotional article in the Press Release section, not investment advice. Investing in the crypto field is extremely risky, you can lose the entire investment amount. You need to research carefully before acting, we are not responsible for your investment decisions.
