Mazars


Finance

Binance Losing Auditing Partner Mazars Leaves Crypto Questions Unanswered

Auditing firm Mazars, which had published a proof of reserves report for Binance and other exchanges, on Friday cut ties with clients in the crypto industry.

(Moreimages/Shutterstock)

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Bitcoin Is Uninvestable Right Now, Strategist Says

Path Trading Partners co-founder and Chief Market Strategist Bob Iaccino says while bitcoin (BTC) is uninvestable in the short term, "that's not a negative on the space." Long term, he compares bitcoin to gold. Plus, Iaccino's reaction to audit firm Mazars pausing work for crypto clients.

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On-Chain Data Shows Binance Isn't Exhibiting ‘FTX-Like’ Behavior: CryptoQuant

Binance is not the next FTX, according a report from CryptoQuant. The analytics firm points to on-chain data to support claims made in a recent audit that Binance is over-collateralized. This comes as Mazars, the auditing firm working with Binance and other crypto exchanges on proof-of-reserves statements, has paused all work for crypto clients. CryptoQuant Senior Analyst Julio Moreno shares his insights.

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Bitcoin Below $17K as Auditing Firm Mazars Pauses Crypto Work

The crypto market is trading weak after French audit firm Mazars, which recently did Binance's proof-of-reserves report, suspended work for crypto exchange clients, and global markets traded risk-averse. Path Trading Partners co-founder and Chief Market Strategist Bob Iaccino discusses the recent price action for the world's largest cryptocurrency by market capitalization and his investment strategies amid crypto winter.

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Finance

Auditing Firm Mazars Pauses Proof-of-Reserves Work for Crypto Clients

Mazars said it had concerns about how the reports were understood by the public.

(Danny Nelson/CoinDesk)

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Binance's Bitcoin Reserves Are Overcollateralized: Report; Genesis Developments

Binance released a new report from global financial audit, tax and advisory firm Mazars showing that its customer bitcoin (BTC) reserves are overcollateralized. However, the assessment is not an official audit, according to Francine McKenna, lecturer in financial accounting at The Wharton School at the University of Pennsylvania. Plus, Genesis interim CEO Derar Islim said resolution of his company’s lending unit’s withdrawal freeze is likely to be a matter of “weeks” rather than days. CoinDesk and Genesis share the same parent company.

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