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Search resuls for: "Mackenzie Sigalos Kate Rooney"


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☆ Mazars Group suspends all work with crypto clients including Binance, Crypto.com
  + stars: | 2022-12-16 | by ( Mackenzie Sigalos Kate Rooney | Mackenzie Sigalos | Kate Rooney | ) www.cnbc.com   time to read: +2 min
Accounting firm Mazars Group has suspended all work with its crypto clients, according to its former client and the world's largest crypto exchange, Binance. The decision to cut ties with Binance, KuCoin and Crypto.com comes just after the global accounting firm released "proof of reserve" reports for several digital asset exchanges. A spokesperson from Binance told CNBC in a statement that, "Mazars has indicated that they will temporarily pause their work with all of their crypto clients globally, which include Crypto.com, KuCoin, and Binance." "Unfortunately, this means that we will not be able to work with Mazars for the moment," Binance said. On Dec. 9, Crypto.com published a proof of reserves audited by Mazars, attesting that customer assets were held on a one-to-one basis, meaning that all deposits were 100% backed by Crypto.com's reserves.
☆ Binance backs out of FTX rescue, leaving the crypto exchange on the brink of collapse
  + stars: | 2022-11-09 | by ( Mackenzie Sigalos Kate Rooney | Mackenzie Sigalos | Kate Rooney | ) www.cnbc.com   time to read: +3 min
Binance is backing out of its plans to acquire FTX, the company said Wednesday, leaving Sam Bankman-Fried's crypto empire on the verge of collapse. It is unclear who is next in line to buy the beleaguered crypto exchange. The failed acquisition of the world's fourth-largest exchange is the latest chapter in a shocking collapse that's rocked the crypto world. He also deleted tweets from the prior day indicating that FTX was "fine" and that the exchange had enough assets to cover clients' holdings. Earlier on Wednesday, Zhao told Binance employees in a memo that he "did not master plan" the collapse of FTX.
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