Cryptocurrency exchange KuCoin, proof of reserve ( POR) international audit company for the purpose of auditing mazarsmade a deal with
happened last month FTX bankruptcy marked the beginning of a new era. One of the world’s largest cryptocurrency exchanges FTX The collapse of ‘s was described as a great collapse. While millions of investors were affected by this bankruptcy, many corporate companies started to report bankruptcy. The loss of trust in the crypto industry has sparked exchanges. BinanceCEO Changpeng Zhao ( CZ ), stated that the exchange will now share the proof of reserve. This move was also supported by other exchanges. The reserve evidence sharing of crypto exchanges has brought with it a number of criticisms. This evidence was deemed meaningless without a third party’s control. Thereupon, a new move started to come from the stock markets.
Binance and Kucoin Entrust Proof of Reserve to Mazars
Recently Binance, proof of reserve ( POR) for checking mazars announced an agreement with Immediately after KuCoinin order to audit the proof of reserve. mazarsknocked on his door.
International auditing and accounting company mazars, will monitor the reserve evidence as a third controller. KuCoinAccording to the statement made by the company, this agreement will guarantee the reliability of user funds.
KuCoinCEO of Johnny Lyustated that they are a public exchange that cares about the safety and security of user funds. liu, third party PORto ensure the control mazars announced their agreement with Moreover liuHe also expressed that he is honored to make this agreement.
mazarscontrol, KuCoinof the stock market BTC It will conduct a detailed review of the main transactions, trading, margin robot and contract accounts. This review will reveal the collateralization status of exchange assets.
