Crypto Exchange KuCoin Hires Mazars for Proof of Reserve Report

Crypto exchange KuCoin said it appointed accounting giant Mazars Group to provide a third-party factual findings report, as the collapse of FTX triggers calls for greater transparency within the industry.

Mazars will provide details about KuCoin’s proof of reserves and customer liabilities, and report whether customer assets are collateralized, the crypto exchange said in a press release. The report will be published in the coming weeks.

KuCoin announced in July that it raised $10 million from quantitative trading firm Susquehanna International Group. The capital injection followed a $150 million pre-Series B financing round led by Jump Crypto in May, which ...