$22M Arbitration Award Secured by Payward in Dispute with Mazars USA

Kraken's parent company Payward has won a $22 million arbitration award against Mazars USA after it withdrew from Kraken's nearly completed 2022 audit.

Mazars had audited Kraken's financial statements for three years, issuing two clean opinions before quitting just days before completing the third audit with no findings of fraud or professional disagreements.

Auditor Mazars claimed it quit due to uncertainty and risk from legal developments, but this was later disputed by Payward as an instance of a broader campaign of regulatory pressure against lawful crypto companies, founders, developers, and customers.

The dispute is part of the industry's larger goal: financial freedom, self-custody, open markets, and the right to build without permission.