BNB, the native cryptocurrency of crypto exchange Binance has tanked 12.5% in the last 24 hours as news arrived that Binance’s auditing partner Mazars Group has suspended ties. The BNB crypto is currently trading at a price of $230 and has dropped by 20% on the weekly chart. 

Mazars Groups has suspended ties with all crypto firms. This includes cutting ties with KuCoin, Binance, and Crypto.com. In a statement to CNBC, the Mazars Group explained:

They “paused its activity relating to the provision of Proof of Reserves Reports for entities in the cryptocurrency sector due to concerns regarding the way these reports are understood by the public.”

However, the auditing firm added that their reports are “performed in accordance with Reporting Standards relevant to an Agreed Upon Procedures report.”