Binance Hires Accountant Mazars to Reassure Clients of Reserves

Digital-asset exchange Binance Holdings Ltd. has appointed accounting giant Mazars to verify its token reserves, as the meltdown of its former rival FTX triggered increased demand for more transparency from cryptocurrency exchanges.

A Binance spokesperson confirmed the appointment, which was first reported by The Wall Street Journal, adding that “it is working with Mazars to conduct a third party financial verification as part of the Proof of Reserves updates.”

“Mazars is reviewing all information that we have shared publicly to date on Proof of Reserves (BTC) and will also be verifying future updates and tokens,” the spokesperson said in ...