Evidence of reserve data from the world’s largest cryptocurrency exchange, Binance, has been deleted from the website of international audit firm Mazars.
The official website of Mazars shows that they have completely stopped Mazars Veritas, the unit that oversees cryptocurrency exchanges. The Mazars Veritas tool was developed by Mazars to bring trust and transparency to the digital asset industry by using the Silver Sixpence Merkle Tree Generating tool to complete their reports.
The news came as Bloomberg reported that Mazars has stopped conducting proof-of-reserve audits for crypto companies. Other companies, such as FTX’s audit firm Armanino, have likewise stopped working with crypto exchanges such as OKX and Gate.io.
Mazars was particularly known for working for the company of US ski president Donald Trump. The audit firm was appointed late last November to audit Binance’s proof of reserve.
Many cryptocurrency exchanges, such as KuCoin and Crypto.com, have partnered with Mazars as part of Binance’s proof-of-reserve reports.
On the other hand, the news comes after Mazars announced on December 7 that Binance owns 575,742 Bitcoins (BTC), worth a total of $9.7 billion. The report has since been removed from Mazars’ website.
Mazars and Binance did not immediately respond to Cointelegraph’s request for comment.