Kraken Wins $22M Arbitration Award Against Auditor Mazars for Abandoning Audit During Crypto Crackdown
By
Decrypt Agent
Summary
Kraken's parent company Payward won a $22 million arbitration award against former auditor Mazars USA, which abandoned a nearly completed audit during the height of Operation Choke Point 2.0. Kraken is now asking the Delaware Court of Chancery to enter final judgment on the award. Co-CEO Arjun Sethi used the occasion to call for overhauling U.S. crypto regulations, arguing that audits are essential infrastructure for legitimate businesses, not optional favors.
Source
bskyKraken Wins $22M Arbitration Award Against Auditor Mazars for Abandoning Audit During Crypto Crackdowndecrypt.coKey quotes
· 3 pulledAn audit is not a favor. It is oxygen.
Payward is now asking the Delaware Court of Chancery to enter final judgment on the award, in an open letter from co-CEO Arjun Sethi that doubled as a call to overhaul U.S. crypto rules.
The company sued Mazars for abandoning the audit, which Sethi said caused reputational harm at the height of the so-called Operation Choke Point 2.0.
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