Kraken Parent Seeks Judgment on $22 Million Mazars Award

Payward asked the Delaware Court of Chancery to enter final judgment against Mazars USA after winning a $22 million arbitration award, Payward Co-CEO Arjun Sethi said Tuesday. Payward, the parent of Kraken, sued Mazars after the auditor withdrew from Kraken's nearly completed 2022 audit. Sethi said Mazars had no disagreement with Kraken management, no integrity concerns and found no fraud. Mazars cited legal uncertainty after the SEC filed a complaint against Kraken, Sethi said, adding that the SEC complaint was later dismissed with prejudice. Payward has received clean audits every year since, Sethi said. Sethi also urged Congress to pass the CLARITY Act for digital asset market structure rules.