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Centralized exchange Kucoin hires Mazars Group for audit of Proof-of-Reserves

Photo of Flavien FlavienDecember 5, 2022
Less than a minute
Centralized exchange Kucoin hires Mazars Group for audit of Proof-of-Reserves

Mazars Group, a leading international audit firm, has been hired by cryptocurrency exchange Kucoin to provide an external proof-of-reserves audit. This comes into the effort by exchanges to show transparency and restore customer trust, as it was thoroughly shattered by FTX’s mismanagement of funds and a clear lack of clarity about the exchange’s collateral.
Previous data shows Kucoin’s assets valued at over $2 billion, including 31% in USDT, 17% in its own Kucoin token (KCS) and about 10% in BTC, according to CoinMarketCap, with over $379 million in trading volume in the last 24 hours.

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Photo of Flavien FlavienDecember 5, 2022
Less than a minute
Photo of Flavien

Flavien

Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.
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