has released its Proof-of-Reserves by publishing the results has released its Proof-of-Reserves by publishing the results
Crypto has released its Proof-of-Reserves by publishing the results

By Stefania Stimolo - 12 Dec 2022

Chevron down has joined all crypto-exchanges that now have their Proof-of-Reserves, releasing the results. and the results of its Proof-of-Reserves 

Cryptocurrency exchange announced the release of its Proof-of-Reserves and published the results.

The audit showed that holds 102% of Bitcoin (BTC), USD Coin (USDC), and Shiba Inu (SHIB) and Decentraland (MANA). In contrast, the Reserve Ratio is 101% for Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE) and Link. Only Tether (USDT) is 106% held by the company. 

As with Binance, the audit of was conducted by Mazars Group, a leading international audit, tax and consulting firm that employs more than 44,000 professionals in over 90 countries. 

Advanced cryptographic procedures were used to conduct the PoR, which confirmed the availability and coverage of client balances on the crypto platform. users and confirmation that their funds are backed by the platform

Thanks to Proof-of-Reserves, users can now use the dedicated web page to verify whether or not their cryptocurrency funds deposited on are backed by the platform. 

In this regard, Kris Marszalek, CEO of said:

“Providing audited Proof of Reserves is an important step for the entire industry to increase transparency and begin the process of restoring trust. is fully committed to providing customers around the world a safe, secure, and compliant means of engaging with digital currencies.”

The collapse of CRO and investor concerns

Right around the time of the FTX collapse, the entire crypto-market suffered price dumps, but Cronos (CRO),’s crypto, fell nearly 45% that week. 

The fact is that is a crypto-exchange just like FTX, and investors apparently sold CRO out of fear that even this exchange would experience liquidity problems.  

And indeed, that same week, the exchange’s daily volume had plummeted from last year’s highs of about $4 billion to about $284 million last October, while withdrawals continue to increase. 

However, from that week to the present, CRO’s situation has not recovered. At the time of writing, CRO is worth $0.06 versus $0.12 in early November. 

Even Binance is showing its certified Proof-of-Reserves with Bitcoin

Last week, the most popular of the crypto-exchanges, Binance, also released the result of its Certified Proof-of-Reserves, also conducted by the Mazars company. 

Basically, as of 22 November, Binance held enough Bitcoin to cover all user balances on the exchange. 

An additional confirmation from the exchange, following the launch of its dedicated PoR webpage two weeks ago to reassure its users. 

Unlike, however, Binance has focused only on BTC for the time being and has not revealed how often it will publish its PoR audits conducted together with Mazars. 

Mazars is rescuing the trust of crypto-exchanges

Another cryptocurrency exchange that has decided to use the Paris-based company, Mazars, to conduct its PoR verification is KuCoin. 

However, the results of the audit on the collateralization of KuCoin’s assets have not yet been published. They are probably still being processed and verified. 

Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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