Kraken parent company wins $22 million arbitration against auditor Mazars

CoinFeed July 8 news, according to The Block report, Kraken parent company Payward won arbitration against auditor Mazars USA, awarded $22 million. Mazars abruptly terminated the nearly completed audit during 'Operation Choke Point 2.0' in 2022. At the time, the audit was nearly finished, and Mazars confirmed in writing upon withdrawal that there were no objections to the company's management, no integrity queries, and no fraud found. Payward co-CEO Arjun Sethi stated that an audit firm abandoning a nearly completed audit without any professional disagreements reflects the systemic pressure the crypto industry faced at the time. Audits are crucial for crypto companies, serving as the foundation for maintaining banking relationships, licenses, and regulatory compliance.