Major cryptocurrency exchanges like Binance, Bitget and OKX which have high proof of reserves are seeing the dollar value of their reserves increase as the price of Bitcoin rises. These exchanges publish periodic proof of reserves to provide transparency to users that they hold sufficient cryptocurrency reserves to cover user balances. As the value of their Bitcoin reserves increases, the dollar value of their proof of reserves also rises.
They are potential problems in this market. Not all bitcoins and cryptocurrencies in their treasuries are from their own money but majority of these assets are from their customers. They only play as custodians for their users and have to secure their vaults to avoid hacks. They also must handle those assets carefully and don't use those assets wrongly like Sam Bankman-Fried and FTX exchange.
They can improve their reports and audits to customers but like Tether company, there are always doubt about those companies and their actual reserves.