Reserves

Accounting firm that released proof of reserves report for Binance halts service to all crypto clients

Accounting firm that released proof of reserves report for Binance halts service to all crypto clients

Crypto and Web3 have unrealized potential, but lack of regulation over the years has led to speculative bubbles and Ponzi schemes, says Joe Lonsdale. Mazars, the accounting firm that released a proof-of-reserves report released by cryptocurrency giant Binance last week, has removed the report from its website and no longer offers the service to its …

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Mazars Group suspends all work with crypto clients including Binance, Crypto.com, citing concerns over public perception of proof of reserves

Mazars Group suspends all work with crypto clients including Binance, Crypto.com, citing concerns over public perception of proof of reserves

Accounting firm Mazars Group has suspended all work with its crypto clients. The decision to cut ties with Binance, KuCoin and Crypto.com comes just after the global accounting firm released “proof of reserve” reports for several digital asset exchanges. The move comes as major cryptocurrency exchanges seek to prove their creditworthiness and show they have …

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Crypto.com Commits to Providing Proof of Reserves After Halting Certain Deposits and Withdrawals

Crypto.com Commits to Providing Proof of Reserves After Halting Certain Deposits and Withdrawals

Kris Marszalek, CEO of cryptocurrency exchange Crypto.com has become the latest crypto firm to promise to release “audited proof of reserves”, amid the fall of rival exchange FTX. “We share the belief that it should be necessary for crypto platforms to publicly share proof of reservations,” Marszalek said, adding that his company “will release our …

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