In the aftermath of the FTX collapse, crypto exchanges have come under intense public scrutiny regarding their solvency. As exchanges publish their Proof-of-Reserves (PoR) to reassure investors, the community has raised certain ‘red flags’ regarding the legitimacy of such reports.
Mazars, a multinational accounting firm that Binance appointed to conduct their PoR report, has now announced that they will temporarily suspend all accounting services for crypto exchanges.
“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,” Binance said in a statement on Friday.
A spokesperson for Mazars has confirmed that this is the case.
Binance is still making strides to win investor confidence, with the CEO being more active than ever on…
