Mazars, the former accounting firm of Donald Trump’s office, was recently hired to review Binance’s PoR.
Crypto Exchange KuCoin has engaged foreign investment firm Mazars for a third-party proof of investment (PoR) review.
According to Dec. 12, Approval will provide exchange customers with transparency and reporting on whether their important assets are supported, as well as details of the main, trade, limit, robot, and contract accounts for Bitcoin (BTC) and Ether (ETH), as well as for Tether stablecoins
USDT ($1.00) and USD coins USDC ($1.00).
The news should be available on the official KuCoin website in a few weeks. KuCoin CEO Johnny Lyu said the move is another step in the exchange’s efforts to provide transparency to users’ finances. Wiehann Olivier, Partner at Kucoin, added:
“After recent events, the industry urgently needs more transparency, and we are confident that offering Mazars PoR services to KuCoin and other international cryptocurrency exchanges will help build trust through transparency .”
As reported by Cointelegraph, Mazars was appointed as an auditor to perform “third-party financial verification” on Binance’s PoR on November 1. 30. Bitcoin information is publicly monitored by Binance. Based in Paris, the international accounting firm used to work for former US President Donald Trump’s office. According to reports, the company ended its relationship with Trump and his family in 2022. KuCoin and Binance are among the six crypto companies that refused to provide consumer protection information by US Senator Ron Wyden from December 12. Wyden asked Binance, Coinbase, Bitfinex, Gemini, Kraken, and KuCoin for information about affiliates, customer protections, use of customer data, and market fraud protection. The lawmaker argued that crypto users who have money in FTX do not have “such security” as those of banks or brokers registered under the Federal Deposit Insurance Corporation or the Agency -Investor Protection Agency.
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