NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: HYPE Soars Beyond $40 Following Robinhood Listing: What’s Next For Hyperliquid’s Price?
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: HYPE Soars Beyond $40 Following Robinhood Listing: What’s Next For Hyperliquid’s Price?

Bitcoin Plummets Below $17,000 After Audit Firm Mazars Pauses Work For Binance

Jake Simmons
Jake Simmons
1 year ago
3 mins read
Bitcoin falling after Binance rumors

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The Bitcoin price has once again fallen below the $17,000 mark after it became known that the auditing firm Mazars will pause its work with Binance. Already in the last few days, rumors and FUD about Binance intensified.

As NewsBTC reported, investors are worried that Binance is not keeping enough reserves on hand for all their client funds. The impetus for the outcry was a proof-of-reserves conducted by Mazars that raised numerous new questions instead of answering the old ones.

Remarkably, the auditing firm worked not only with Binance but also with other cryptocurrency exchanges such as Crypto.com and KuCoin to attest to proof-of-reserves.

Related Reading

Bitcoin

Bitcoin Price Prediction: Why BTC Could Still Tumble Below $16K

1 year ago

An email to Binance now indicates that Mazars is pausing all work for crypto clients. “Unfortunately, this means that we will not be able to work with Mazars for the moment,” a Binance spokesperson said.

Binance Rumors Are Dragging Down Market Sentiment

The crypto market is not settling down after the collapse of FTX. Rumors of insufficient backing of client funds by Binance, Tether (USDT), and Digital Currency Group’s troubles as a result of Genesis Trading’s liquidity problems hang over the crypto market like a sword of Damocles.

Binance CEO Changpeng Zhao had tried to mitigate the turmoil several times in recent days. Thus, he took questions from the community in an AMA and appeared in an interview on CNBC.

Related Reading

Bitcoin price

Bitcoin Miner Capitulation Is An Exaggerated Fear, Analyst Claims

1 year ago

When asked if Binance would be able to pay out $2.1 billion if that amount was due. CZ said, “We are financially okay. We are financially strong.” The Binance CEO was also asked why the company has not yet disclosed its liabilities and whether the exchange plans to do so. CZ said:

We are working with the audit firms to audit the financial liabilities. [..] Audits don’t reveal any problem.

CNBC anchors interrupted CZ and made the claim that an audit by one of the Big Four could put all the rumors to rest. “When you say that some of them don’t want to work with you, that raises questions! They don’t want to work with you because you don’t have the documentation and data that would make them feel comfortable”, they said.

CZ, for his part, refuted this statement and claimed that “actually many of them do not know how to audit crypto exchanges.”

Binance CEO CZ on CNBC:

Many big four firms do not know how to audit crypto exchanges. pic.twitter.com/r3C15cMwbK

— unusual_whales (@unusual_whales) December 15, 2022

Bitcoin Price Plunges Below $17,000

The interview has in no way helped to calm the crypto market, especially since CZ was also unable to provide a satisfactory response via Twitter in the aftermath. CZ only retweeted the following and stated in his newest tweet that “Blockchains are public, permanent records. It’s the most auditable ledger.”

The pausing of the collaboration with Mazars also puts the interview in a bad light. Mazars has not yet communicated why it has paused cooperation with Binance and the other crypto exchanges, other than that the term “audit” would be used falsely.

Bitcoin investors have taken the interview overwhelmingly bearish. Within the last six hours, the Bitcoin price has lost around $500 and was at $17,004 at press time.

Bitcoin BTC USD 2022-12-16
Bitcoin price, 1-hour chart. Source: TradingView
Tweet123Share196ShareSend
Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

Read more

His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin $4 target wiskundige analyse - het geheim ligt in de koers cijfers van 2025

Dogecoin RSI Breakout Shows Main Target, Why $1 Is Still Possible

Dogecoin is getting attention again after crypto analyst Shan Specter shared a new chart on X. In the post, Specter...

Sandra White 3 hours ago
Crypto

Pundit Drops Bombshell Exposé On Kadena Team After Closure Announcement Saw KDA Price Crash Over 60%

This week, the cryptocurrency community was rocked after Kadena’s sudden shutdown announcement sent the KDA price crashing by over 60%...

Scott Matherson 4 hours ago
Snorter_c36b60

Le še 4 dni za nakup Snorter Bot, ki je zbral 5,3 milijona dolarjev

Snorter Bot Token (SNORT) je v ponedeljek uradno zaključil predprodajo. Vendar je ekipa odprla enotedensko podaljšanje, ki kupcem omogoča, da...

tanjapotocnik 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin STH-SOPR Falls Below 1.0 for the First Time Since April – What This Means

Bitcoin STH-SOPR Falls Below 1.0 for the First Time Since April – What This Means

Sebastian Villafuerte 2 minutes ago
Bitcoin

Bitcoin Supply In Profit Sees Sharp Decline With Market Crash – Here Are The Numbers

Scott Matherson 1 hour ago
FalconX × 21Shares : alliance sur les ETF crypto — bataille des encours et de la liquidité

ETF crypto : le duo FalconX–21Shares accélère la compétition

evanss 2 hours ago

Premium Sponsors

Press Releases

  • イーサリアム 今後 の価格予測:5,000ドルを突破できるのか、それとも投資家はより速い銘柄へ動くのか

    イーサリアム 今後...

    5 hours ago
  • ビットコイン 今後 の価格動向:FRB会議後に10万8,000ドルへ下落、再び暴落か新高値か?

    ビットコイン 今後...

    5 hours ago
  • シバコイン 今後 の展望:保有者数は増加も、サポート水準の防衛に苦戦

    シバコイン 今後...

    6 hours ago
  • パイネットワーク 価格 の見通し:取引所での需要増加により、トライアングル上抜けの兆し

    パイネットワーク 価格...

    6 hours ago
  • ドージコイン 今後 の価格動向:24時間でわずか1%下落、反転の兆しは見えるか?

    ドージコイン 今後...

    6 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.