KuCoin has hired international accounting firm Mazars, the former accounting firm of Donald Trump, for third-party Proof Of Reserves (PoR) verification.
As announced on Dec. 5, the review will provide more transparency for the exchange’s clients. and report whether their property is insured or not. along with details on master accounts, trading accounts, margins, robots and contracts for Bitcoin (BTC) and Ether (ETH), as well as stablecoins Tether and USD Coin.
KuCoin CEO Johnny Lyu said the move is the next step in efforts to ensure transparency in user funds. Kucoin partner Wiehann Olivier said:
“After the recent events There is a huge demand in the industry for more transparency. And we are confident that the PoR service offered by Mazars to KuCoin and other international cryptocurrency exchanges will help build greater trust through transparency.”
Mazars has also been appointed as the official auditor to conduct. “Third Party Financial Review” on Binance’s PoR on Nov. 30, Binance’s publicly available Bitcoin data is being reviewed.
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