Kraken Seeks Delaware Judgment After $22M Arbitration Win
The post Kraken Seeks Delaware Judgment After $22M Arbitration Win appeared on BitcoinEthereumNews.com. Payward, the parent company of crypto exchange Kraken, has won a $22 million arbitration award against former auditor Mazars USA and asked the Delaware Court of Chancery to enter judgment on the award, according to a letter published Tuesday by co-CEO Arjun Sethi. Payward said Mazars withdrew from the exchange’s nearly completed 2022 audit despite finding no fraud, raising no concerns about management’s integrity and reporting no disagreements with the company. “An audit is not a favor. It is oxygen,” Sethi wrote, arguing that independent audits are essential for obtaining banking services, licenses and other business relationships. Sethi said Mazars’ resignation was part of what he described as Operation Chokepoint 2.0, a broader campaign that pressured banks, auditors and other institutions to cut ties with lawful crypto companies. The letter cited a series of regulatory developmen