Binance unveiled its reserve tests audited by Mazars

Hello dear readers, today I bring you a rather controversial topic that I had avoided touching but for some reason I think it is necessary to address, this if we take into account that Binance revealed its reserve tests audited by Mazars, so, the doubts begin to clear.

Bitcoin and cryptocurrency exchanges Binance, Crypto.com and KuCoin no longer have financial validation from Mazars, an auditing firm that supported them with the reserve tests those companies submitted earlier this month following the FTX crash.

According to a report by Bloomberg, Mazars, based in Paris, France, communicated that they will "temporarily" stop their work with cryptocurrency companies worldwide. This according to a Binance source. Unfortunately, this means that we will not be able to work with Mazars for the time being," added the Binance spokesperson, who was not identified.

On Mazars' website it was possible to find the proofs of reserve audited by the firm. However, those records were removed. CryptoNews was able to confirm that those reports are no longer available on the website. Mazars did not immediately respond to a request for comment.

Mazars' decision not to continue working with companies linked to cryptocurrencies comes two weeks after Binance announced the hiring of this auditing company, precisely to support them with the exchange's reserve test. In fact, a few days ago Mazars reported that Binance's BTC reserves were 101% guaranteed.

It should be clarified that Mazars' U.S. subsidiary worked for several years for the companies of former U.S. President Donald Trump and his family members. But these ties ceased in 2022.

Mazars' announcement comes in a context in which several companies linked to Bitcoin and cryptocurrencies are facing questions about their liquidity and reserves, due to the collapse of the FTX exchange, which was once one of the most important in the market.

Bloomberg Accountant That Vetted Binance Reserves Halts Crypto Work. Link