After the collapse of Sam Bankman Fried’s crypto exchange FTX in a matter of weeks, Binance appointed Mazars as its accounting firm to verify its proofs of reserves (PoR). Mazars, the accounting firm that worked for Donald Trump’s former president, was chosen by Binance to be its official auditor.

Binance spokesperson stated that the first verification update for BTC would be completed this week.
According to Wall Street Journal, Mazars will verify Binance’s crypto reserves as part the exchange’s larger proof-of reserve system. This will foster greater transparency. Mazars is an international accounting company. The controversy surrounding Trump’s U.S. branch, Trump’s long-standing accounting firm, began in 2019 when he requested his financial records from the House Oversight and Reform Committee.

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