Mazars, the auditor that worked on proof-of-reserves reports for Binance, Crypto.com, and others, pauses work with crypto clients and deletes Binance's report
Remember when Binance released proof of reserves to calm the market? Elena R / Coinpedia Fintech News : Michael Burry Reacts on Binance Audits - Here's What He Has to say Jana Serfontein / Crypto Daily : Proof-Of-Reserve Auditor Mazars Pauses Work For Crypto Clients Helen Partz / Cointelegraph : Binance proof-of-reserves removed from the auditor's site Bhushan Akolkar / CoinGape : Binance Coin (BNB) Tanks 12.5% As Binance Auditor Mazars Suspends Ties Omkar Godbole / CoinDesk : Bitcoin, Ether Slip as Audit Firm Mazars Pauses Work for Crypto Clients; S&P Futures Drop Stephan Roth / City A.M. : Auditor Mazars halts work with Binance Wall Street Journal : Accounting Firm Mazars Pauses Work With Crypto Clients Fredrik Vold / Cryptonews : CryptoQuant's Audit of Binance Reveals No ‘FTX-Like’ Behavior in Proof-of-Reserves Ifeanyi Egede / crypto.news : BNB slides as Binance's auditor stops working with crypto firms Ana N. / NewsBTC : Glassnode Raises Concerns Over Binance PoR Data, Was There A Mistake? JD Alois / Crowdfund Insider : Audit Firm Mazars Bails on Binance Proof of Reserves Statement Romain Dillet / TechCrunch : Audit firm Mazars ceases proof-of-reserves work for Binance and others Kyle Barr / Gizmodo : Company That Was Supposed to Tell Us if Binance Is Stable Calls It Quits Emily Nicolle / BNN : Mazars to Pause All Work for Crypto Clients, Binance Says Arba Halpin / Ethereum World News : Auditing Firm Mazars Halts Work With All Crypto Clients Including Binance, Crypto.Com, KuCoin Sahana Kiran / Watcher Guru : Binance, Crypto.com, KuCoin auditor pauses work with Crypto Clients The Information : Accounting Firm Mazars to Pause Crypto Work For Binance, Others Ibiam Wayas / Cryptopolitan : Binance's reserve auditor Mazars suddenly stops crypto audits Web3 is going just great : Auditing firm cuts ties with crypto clients, deletes Binance's “proof of reserves” report they issued days prior Andrew Asmakov / Decrypt : BNB Plummets as Binance Auditor Mazars Halts Work With All Crypto Firms Varinder Singh / CoinGape : Breaking: Binance Auditor Mazars Suspends Services For Crypto Firms Osato Avan-Nomayo / The Block : Mazars to pause all crypto exchange proof-of-reserves reports Msmash / Slashdot : Accounting Firm Mazars Pauses Work With Crypto Clients Daniel Levi / Tech News : Is Binance in trouble? Binance proof-of-reserves auditor Mazars Group suspends all work with crypto clients including Binance, Crypto.com, and KuCoin Zoltan Vardai / Forkast : Binance's proof-of-reserves auditor suspends work for crypto firms George Georgiev / CryptoPotato : Binance and Crypto.com Auditor Mazars Group Pauses Work with Crypto Clients Tweets: Emily Nicolle / @emilyjnicolle : 🚨 SCOOP: Mazars is pausing all work for crypto clients, including proof of reserves reports. On Terminal now. @grdecter : What's going on with Binance? Here's what I know 🧵 Jimie / @your_nlp_coach : I worked for 9 years for a Big 4 firm. Audit firms are risk-averse. Especially the Big 4 (EY, PWC, Deloitte, KPMG). Mazars is a big player. And I fully understand why they stopped auditing Binance and other crypto projects https://www.coindesk.com/... @nic__carter : Mazars isn't ‘cutting ties’ with Binance, they're curtailing their crypto accounting practice, as are Armanino. PR risk + insurance costs + media storm = boutique audit firms stepping back. Not Binance specific. https://twitter.com/... @cointelegraph : Mazars discontinued its Veritas tool, resulting in Binance audit report disappearing from their site. https://cointelegraph.com/... Yossi Gestetner / @yossigestetner : “Mazars suspends all work with crypto clients including Binance, CryptoDotCom.” - 12/16/22 This firm takes money in exchange for their stamp of approval that they drop when the going gets tough. They either know how to audit clients or they don't. https://www.cnbc.com/... MacKenzie Sigalos / @kenziesigalos : Mazars - the accounting firm that had become the go-to for these “fully audited” proof of reserves for crypto exchanges like Binance, https://crypto.com/, & KuCoin - is apparently suspending all work with its crypto clients, says Binance. https://www.cnbc.com/... w/@Kr00ney @tree_of_alpha : Mazars' official website shows they fully discontinued their “https://veritas.mazars.com/” website, dedicated to Crypto audits. This comes after Bloomberg reports that Mazars stopped doing Proof of Reserves for Crypto companies. Archive: https://web.archive.org/... Leigh Drogen / @ldrogen : I want two numbers from Binance in an audit What's the $ number in assets that haven't been KYCed and can basically never leave the platform What's your total debt and how much of it is collateralized by BNB https://twitter.com/... Max Chafkin / @chafkin : The accounting firm that Binance claimed had audited it has pulled all its crypto work. Nb: the “audit” was not in fact an audit https://twitter.com/... Anthony DeRosa / @anthony : Global accounting firm Mazars is pausing its work with all cryptocurrency clients worldwide, soon after it published several “proof of reserve reports” for digital-asset platforms. https://www.wsj.com/... @tree_of_alpha : While people will speculate about the reason for this change, it is likely Mazars realized the backlash associated with doing shallow Proof of Reserves for Crypto companies is far worse than what they could gain from it. Associating your business with Crypto is always dangerous. https://twitter.com/... Jacob Silverman / @silvermanjacob : Just add it to the list of red flags. https://www.bloomberg.com/... Gabor Gurbacs / @gaborgurbacs : Auditing firm Mazars temporarily suspends crypto audit work. According to Coindesk, it also deleted proof of reserve report link from its website for Binance, Cryptodotcom and Kucoin. What's going on there? https://www.coindesk.com/... Paul Amery / @newmoneyreview : Hey @cz_binance your auditor has quit. What is your response? https://twitter.com/... Justina Lee / @justinaknope : Wonder if this is why Mazars seems to have removed Binance's proof of reserves report from the web. This (linked in all the news articles) is now broken: https://veritas.mazars.com/... https://twitter.com/... Lionel Laurent / @lionelralaurent : Getting into bed with the wrong client is the reason why the auditing industry's Big Five became the Big Four 20 years ago and stayed that way https://twitter.com/... @h_bitcoiner : Mazars audited Binance,Kucoin, Crypto .com and few other major companies Fyi Mazars, the accounting firm did work with Trump's also and then cut ties with him once he was getting investigated for tax fraud 😅 https://twitter.com/... @watcherguru : JUST IN: Mazars suspends audits for #crypto exchanges, which include Binance, KuCoin, and Crypto․com, Bloomberg reports. @tier10k : [DB] For Context, This Was Out ~15 Mins Ago Mazars Has Paused Work for All Crypto Clients Globally, According to Binance, Which Was a Customer of the Auditing Firm: BBG Maya Parody / @mayazi : That's a fancy way of saying they already survived a Trump scandal this year & CZ just isn't worth the reputational risk https://twitter.com/...