*BITCOIN FALLS BELOW $17K IN WEEKEND TRADE AS CRYPTOS SLUMP AMID BINANCE/FTX DRAMA BTC BITCOIN BNB
Investing.com -- Cryptocurrency prices fell on Friday after new developments cast fresh doubt on the reliability of reserve figures provided by the world's largest exchange.
“Mazars has indicated that they will temporarily pause their work with all of their crypto clients globally," Bloomberg quoted a Binance spokesman as saying."Unfortunately, this means that we will not be able to work with Mazars for the moment.” Mazars had said at the time that the data provided to it by Binance indicated that the exchange's available reserves exceeded its liabilities to customers, validating Binance CEO and founder Changpeng Zhao's repeated claims. However, it had added important caveats to its assessment, flagging that it had worked under specific restrictions imposed by the exchange and had not been able to verify all of the data with third parties.
In a social media thread retweeted by Zhao, Jeff Dorman, chief investment officer at digital asset platform Arca, said Binance was trapped in a “guilty till proven innocent" environment, adding that “it's virtually impossible for Binance to actually prove innocence in a timely fashion.”
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