Kraken parent wins $22M arbitration award against former auditor Mazars

Kraken's parent company, Payward, has been awarded $22 million in an arbitration case against its former auditor, global accounting firm Mazars, Cointelegraph reported. Payward claimed that Mazars unilaterally halted its 2022 audit just as it was nearing completion. The company argued that an audit is not a favor but is as essential as "oxygen for corporate survival," necessary for accessing banking services, obtaining licenses, and maintaining business relationships. Payward asserted that the auditor's action was part of Operation Choke Point 2.0, a measure to pressure the crypto industry by restricting its access to banking, and resulted in millions of dollars in losses. Kraken co-CEO Arjun Sethi has now petitioned a Delaware court to confirm the award.