Mazars Group | FinTelegram News

Tag: Mazars Group

December 16, 2022

French Auditor Paused Working For Crypto Clients Due To Public Perception Of POR Reports!

French auditing firm Mazars Group, that did the controversial Proof of Reserve (POR) "audits" of crypto giants Binance and Crypto.com, has paused work for all crypto clients globally. However, the published POR audits have raised more questions than they gave answers to and were met with massive criticism on Twitter. Probably, as a result, Mazars has withdrawn from further crypto engagements. The crypto environment is currently extremely toxic.

December 11, 2022

Binance & Crypto.com: Proof Of Reserves Reports Are Worth Nothing & Prove Nothing, Critics Claim!

Amid Crypto Contagion following the FTX collapse, two of the world's largest crypto exchanges, Binance and Crypto.com released "Proof of Reserves (PoR)" reports. Both worked with Mazars Group, a global accounting firm. However, according to Mazars, these haven't been audit reports; they did not express an opinion or an assurance conclusion. While the PoR reports may be a good first step toward more transparency in the crypto sector, but for now, they are more of a sort of placebo to calm users.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.