The post Top Reasons Why Binance is Not Next FTX! appeared first on Coinpedia Fintech News
Is Mazars’ decision to discontinue crypto auditing related to Binance’s insolvency? Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges, and the recently published Binance POR has been deleted from the internet.
Prior to the FTX crash last month, Mazars was doing a number of POR audits for crypto exchanges such as Binance, Crypto.com, and Kucoin. However, an anonymous trader by the name of Da Viking has given a set of reasons for the Binance FUD.
“Mazars could have stopped *crypto audits* because they felt it was too risky for them, which is understandable in this climate. TradFi companies are increasingly wary of crypto since the FTX implosion. For example, banks have started banning accounts of crypto users.”
According to the anonymous trader, Mazars may have stopped crypto auditing because they deemed it too dangerous for them, which is logic
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