Late last year, Mazars, a world-renowned auditing firm, abruptly suspended its proof of reserve for one of the world’s largest cryptocurrency exchanges, Binance. At the same time, it removed all references to cryptocurrency-related customers from its website. A Mazars spokesperson later explained that they were “concerned that these reports would be misunderstood by the public.” Many would interpret the decision as a major setback for an industry striving for greater transparency.
