Kraken, one of the largest cryptocurrency exchanges, has filed a motion in a Delaware court to obtain a final judgment following an arbitration award that awarded the company $22 million in damages against its former auditor, Mazars.
The arbitration, conducted under the rules of the International Chamber of Commerce, concluded that Mazars breached its contractual obligations, leading to a significant loss for Kraken.
Kraken alleges that Mazars resigned abruptly during a period of intensified U.S. regulatory scrutiny, a move that the exchange claims disrupted its audit processes and exposed it to financial risk.
The court action is a continuation of the dispute, with Kraken seeking to enforce the arbitration award and recover the full amount. The case highlights ongoing tensions between exchanges and audit firms amid regulatory pressure.
If the Delaware court grants the final judgment, Kraken would be able to collect the award and potentially recover additional costs. The outcome will be closely watched by industry participants and regulators.