A French accounting firm that was providing proof-of-reserves auditing data for Binance and other cryptocurrency companies has reportedly said it would cease to work for those companies.
A French accounting firm that was providing proof-of-reserves auditing data for Binance and other cryptocurrency companies is suspending work for those companies, according to Binance.
Bloomberg News earlier reported on the new policy, saying that it came amid media scrutiny and signs that markets were not confident about the work Mazars had done to vouch for their reserves thus far.Binance CEO Changpeng Zhao said Thursday that most major audit firms don’t know how to properly audit a cryptocurrency company, when asked why the company hadn’t produced a full audit, in an interview with CNBC.
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