Following Mazars Group’s declaration of audit suspension for its crypto clients, BNB’s price has since plummeted as concerns have grown over the state of Binance’s finances. And, investors’ confidence in the general cryptocurrency industry has dropped.

Mazars Group had been one of the big accounting firms that conducted Proof-of-Reserves (PoR) audits for leading exchanges Binance and KuCoin. Bloomberg reported that Mazars’ decision to suspend working with cryptocurrency firms was because “markets haven’t been reassured by the ‘proof-of-reserves’ reports it had published so far.”