Kraken Wins $22M Against Ex-Auditor Mazars, Demands Final Judgment
Kraken is pushing for a final judgment after an arbitrator awarded the exchange $22 million against its former auditor, Mazars USA. The dispute stems from Mazars abruptly withdrawing from Kraken's 2022 audit just before completion, citing vague "legal developments." This move cost Kraken millions and years in legal fees, fueling the exchange's narrative of regulatory headwinds.
Kraken is coming for its money. The exchange wants a Delaware court to rubber-stamp a $22 million award against Mazars USA, its former auditor. Mazars bailed on Kraken's 2022 audit last December, days before it was due, claiming "legal developments" despite previously issuing clean opinions and finding no issues with Kraken's integrity. This abrupt exit cost Kraken millions and years of legal wrangling to find new auditors and appease banks and regulators. Kraken says it's since secured clean audits annually. The fight is framed by Kraken execs as part of a broader pushback against what they call "Operation Chokepoint 2.0," where regulators allegedly try to cut off crypto firms from essential financial services. This legal win comes as Kraken aggressively pursues a European banking license, aiming to become the first crypto exchange with full EU banking services, signaling a major regulatory play beyond just crypto.