Binance Crypto Reports Hidden by Mazars Auditing Firm

Mazars reveals that they have completely dissolved Mazars Veritas
Binance audit has since been deleted from the website of Mazars
Mazars ceased doing proof-of-reserve audits for bitcoin companies

The official website of Mazars reveals that they have completely dissolved Mazars Veritas, a division devoted to auditing bitcoin exchanges. Mazars developed the tool to increase trust and transparency in the digital asset industry by using the Silver Sixpence Merkle Tree Generating tool as a supplement to proof-of-reserve reports.

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The discovery came shortly after Mazars confirmed on December 7 that Binance has control over 575,742 Bitcoin belonging to its customers, which at the time of writing were valued approximately $9.7 billion. The report has since been deleted from the website of Mazars.

Furthermore, Bloomberg reported on December 16 that Mazars ceased doing proof-of-reserve audits for bitcoin companies. Other auditing firms, including FTX’s audito r Armanino, reportedly ceased auditing practices.

Several competing cryptocurrency exchanges, like KuCoin and Crypto.com, have followed Binance’s example by collaborating with Mazars for their reserve reports in the past weeks.

Mazars is widely recognized as the accounting agency for the corporation of former U.S. President Donald Trump. Late in November, the auditing firm was designated as the official auditor for Binance’s proof-of-reserve upgrades.

In other news, Martin Shkreli, a convicted felon who has gotten a lot of bad press, said in his most recent report that he knows who Satoshi Nakamoto is.

He claimed to decode the first-ever Bitcoin transaction sent to Hal Finney from Satoshi. He additionally posted a wallet address which he translated to “BEGIN BITCOIN SIGNED MESSAGE.” People began to challenge his remark in the comment area, leading to his being shown incorrectly.

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José Gustavo

José is a crypto enthusiast who trades crypto night and day. He loves to share his trading stories and experiences in all his published articles. José likes to hang out and travel to meet new friends. Enjoys sushi, vodka, and tequila.