Crypto exchange Binance on Friday said its auditor Mazars has suspended services for cryptocurrency firms including crypto exchanges, reported Bloomberg.
According to a Binance spokesperson, Mazars will not provide services including proof of reserves for cryptocurrency exchanges. The clients include Binance, KuCoin, Crypto.com, and others. The AUP engagement provided by Mazars is widely misused as an “audit”.
The news caused massive selling in the crypto market due to the existing Binance FUD. Bitcoin (BTC) price fell over 2%, with the current price trading at $17,015. The BTC price plummeted nearly 4% in the last 24 hours. Ethereum price falls nearly 6% in the last 24 hours, with the current price trading at $1,212.
Binance CEO “CZ” tweeted that “Blockchains are public, permanent records. It’s the most auditable ledger.”
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