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OKX published its 43rd Proof of Reserves snapshot as of May 7, revealing notable outflows in its two largest crypto holdings. User BTC balances fell by 5,851 BTC — a 5.0% decline — to 111,188 BTC, while ETH holdings dropped by 50,140 ETH (-3.12%) to 1.56 million ETH. The simultaneous drawdown across both majors is the headline signal from this report.
On the stablecoin side, user USDT balances moved in the opposite direction, rising by 28.1 million USDT (+0.28%) to 10.24 billion USDT. The modest USDT uptick suggests some users may be rotating out of spot crypto exposure into stable holdings — a classic risk-off positioning pattern.
OKX's Proof of Reserves programme is a self-published transparency mechanism that allows users to verify their assets are held on a 1:1 basis. While the reserve ratios themselves remain intact, the direction of the underlying flows is worth watching: sustained BTC and ETH outflows from a major exchange can reflect broader user sentiment shifts or competitive platform migration.
Source: [OKX Crypto Reserve Ratios | Proof of Reserves — OKX United States](https://www.okx.com/en-us/proof-of-reserves/detail)
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