Kraken wins $22M arbitration award against auditor Mazars over contract termination during Operation Choke Point 2.0.
Regulation & Gov ·
Kraken has secured a $22 million arbitration award against audit firm Mazars after the firm terminated its contract with the cryptocurrency exchange. The termination occurred during the period when U.S. regulators intensified enforcement actions against crypto-friendly financial services—a campaign known as Operation Choke Point 2.0. According to reporting, the arbitration panel determined that Mazars' withdrawal breached its obligations to the exchange.
The award reflects the financial damages Kraken claimed as a result of losing auditing services at a critical juncture. Mazars' departure left the exchange without an established auditor amid heightened regulatory scrutiny of the sector, a circumstance that may have compounded the practical and reputational costs of service discontinuation.
The full scope of Kraken's operational impact during this period and any ongoing regulatory matters remain unclear from the available information. It is also not yet established whether either party plans to appeal or whether this settlement will affect Kraken's audit arrangements going forward.