46% of Audited Crypto Companies Work with KPMG, EY, Deloitte, PwC
The back-to-back collapses of crypto firms from the space came as a surprise to most community members. With billions of dollars wiped out of the ecosystem, the need for transparency started being emphasized upon. The Proof of Reserves concept started garnering traction in the aftermath of the collapses. However, that was also the time when accounting firms and other related entities started washing their hands off crypto companies. Post the FTX episode, Mazars Group, the accounting firm that Binance hired announced it was no longer working with crypto companies. Leaving aside the top-crypto exchange, Mazars had also been working with other prominent names from the space including Crypto.com and KuCoin. Despite the tie cut-off, Binance remained committed to providing additional transparency to users. Several companies with their feet immersed in the crypto space have targeted the Big Four Audit firms PwC, KPMG , EY and Deloitte for being either unwilling or unequipp...