Auditing firm Mazars Group has dropped cryptocurrency firms as clients, according to crypto exchange Binance. In a statement to Decrypt, Binance said that “Mazars has indicated that they will temporarily pause their work with all of their crypto clients globally, which include Crypto.com, KuCoin, and Binance.” “Unfortunately, this means that we will not be able to work with Mazars for the moment,” a Binance spokesperson said, adding that the exchange is looking to “embrace additional transparency, exploring the best ways to share those details “in the coming months.” The firm will also be moving forward with its Merkle Tree-based proof of reserves (PoR) pilot. As for working with another accounting firm, the spokesperson said that “we have reached out to multiple large firms, including the Big Four, who are currently unwilling to conduct a PoR for a private crypto company and we are still looking for a firm who will do so.” Binance Coin (BNB), the native token of the exchange, responded to the news with a 5.2% drop on Friday, currently trading around $251, according to CoinGecko. A Crypto.com spokesperson told Decrypt that the exchange completed its proof-or-reserves attestation with Mazars “successfully.”
Full story : BNB Plummets as Binance Auditor Mazars Halts Work With All Crypto Firms.
