Mazars Group cut ties with Larger Crypto exchanges after releasing Proof Of Reserves for other Crypto Exchange A week ago, top copy trading crypto exchange, BingX released Proof of Reserves after an audit done by Mazars Group. Proof of reserves is a way for a company or organization to prove that it holds a certain amount of assets or financial instruments, such as cash, securities, or cryptocurrency, in reserve. This is often done to demonstrate financial stability, transparency, and accountability to customers, stakeholders, or regulators. There are various ways to provide proof of reserves. A company may publicly disclose its financial statements, which are audited by an independent third party and include details about the company's assets and liabilities. The audited company may also provide proof of reserves by allowing an independent auditor to verify the existence and ownership of its assets. In the context of cryptocurrency, proof of reserves is a way for a cryptocurrency
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