.cryptocom released proof-of-reserves data from auditing firm MazarsGroup showing client assets are fully backed. inkbacker reports
from the same auditor seemingly proving its reserves on Wednesday. Similar to Binance, Mazars compared assets held in on-chain addresses on Crypto.com with customer balances on December 7.
However, the report is not an official audit, but rather a"matching exercise based on information provided by the client about on-chain addresses of assets and a client database of customer balances," according to Francine McKenna, lecturer in financial accounting at The Wharton School at the University of Pennsylvania.The results of reserve ratio of major assets on Crypto.com.
"Providing audited Proof of Reserves is an important step for the entire industry to increase transparency and begin the process of restoring trust,” said Kris Marszalek, CEO of
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