Defi and Exchanges

Mazars has paused its collaboration with crypto exchange Binance

French multinational Mazars has paused its collaboration with its crypto clients, including Binance, and KuCoin, a Binance spokesperson said on Friday.

Mazars said it would temporarily suspend work with all of its crypto clients worldwide, including, KuCoin and Binance. Unfortunately, this means we will not be able to work with Mazars at this time,” a Binance representative said.

Hired in late November following the FTX collapse to provide reassurance, the auditors additionally removed the report that confirmed the veracity of the proof of reserves of the planet’s largest exchange. The audit of Binance’s Bitcoin reserves by Mazars was not entirely satisfactory, especially in the auditing world and among some competitors like Kraken.

In recent days, Binance has seen a large volume of withdrawals on its service. Still reeling from the surprise FTX bankruptcy, many investors are pulling their digital coins from centralized platforms.

Earlier this week, Changpeng Zhao warned his staff that the next few months would be “bumpy.” The crypto winter will not be insurmountable, however, according to Binance’s founder and boss.

This morning, sounding reassuring, CZ tweeted, “blockchains are a public and permanent record. It is the most auditable ledger”.

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