The accounting group that issued a proof of reserves report posted by crypto giant Binance last week has paused the service to all its crypto clients.
Rekt Tech partner Robert Mowry joins 'Cavuto: Coast to Coast' to discuss his conversation with FTX's Sam Bankman-Fried and the investigation into the collapse of FTX.
Binance said it has reached out to several major accounting firms, including the Big Four, seeking one willing to perform a proof of reserves report. The crypto exchange said the Big Four — which are Deloitte, Ernst & Young, KPMG and Pricewaterhouse Coopers — are all "currently unwilling to conduct a PoR for a private crypto company.
Binance CEO Changpeng Zhao speaks at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in St Julian's, Malta, on Oct. 4, 2018. Binance founder and CEO Changpeng "CZ" Zhao told CNBC's "Squawk Box" this week that "the well-run crypto exchanges should hold users' assets one-to-one."
"People can withdraw 100% of the assets they have on Binance," Zhao said. "We will not have an issue, in any given day."
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