OKX to release USD157 million worth of frozen assets related to FTX and Alameda.

OKX, a major player in the world of crypto and an expert in Web3 tech, has made an important announcement. They will be releasing nearly $157 million in assets that had been frozen in relation to FTX and Alameda Research. This decision was prompted by a recent motion filed in the FTX bankruptcy case.

During the period when FTX experienced a downfall in November 2022, OKX took the initiative to look into if any FTX-linked transactions were conducted on its platform. Upon detecting some assets and accounts tied to FTX and Alameda Research, OKX took necessary steps such as freezing the relevant accounts to ensure the safety of the assets.

The team at OKX has affirmed their support for the proposal and pledged to work in conjunction with FTX's creditors and law enforcement authorities. They are optimistic that the assets will eventually be restored to FTX's users via the bankruptcy proceedings.

The OKX company is one of the best technology companies in the world and is focused on developing the next generation of Web3. This company has developed a fast and trustworthy cryptocurrency platform that is popular with both regular investors and professional traders. It is also known for being the second largest cryptocurrency exchange in the world based on trading volume, and is used and trusted by over 50 million users around the globe.

The primary self-custody solutions offered by OKX comprise of the OKX Wallet, which is well-suited for Web3 compatibility. This wallet empowers the users to have more authority over their assets while also facilitating their entry into DEXs, NFT marketplaces, DeFi, GameFi, and numerous dApps.

OKX is dedicated to being open and safe and releases its monthly reports, known as Proof of Reserves, to show this to its users.

If you want to gain further knowledge about OKX, then check out their website at okx.com.

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