Auditing


Layer 2

'A Complete Failure of Corporate Controls': What Investors and Accountants Missed in FTX’s Audits

An expert review of FTX’s audited financial statements reveals a series of red flag related-party transactions that should have led to more scrutiny of the company’s operations.

FTX CEO Sam Bankman-Fried (Danny Nelson/CoinDesk)

Tecnología

‘Proof of Reserves’ Emerges as a Favored Way to Prevent Another FTX

Several exchanges, including Binance, have announced plans to use the auditing technique to reassure customers.

(MirageC/Getty Images)

Mercados

Huobi Asset Transparency Report Reveals $3.5B in Crypto Holdings

As of Nov. 12, there were 191.84 million Huobi tokens on the platform. The exchange has promised to perform a Merkle Tree Proof of Reserves audit with a third party within 30 days.

(Shutterstock)

Finanzas

Crypto Auditing Platform Sherlock Raises $4M in Funding

The protocol features an open auditor competition to help find smart contract vulnerabilities

Venture capital firm Variant commits $450 million to its third crypto-focused fund. (Horst Schwalm/Pixabay)

Finanzas

Revolut Said to Be Under Pressure From Regulator Over Risk of 'Material Misstatement' in Auditing: Report

The auditor of Revolut, a digital bank that earns up to 10% of revenue from crypto trading, was criticized by the U.K. accountancy and auditing watchdog, the Financial Reporting Council (FRC).

(Revolut)

Finanzas

Stablecoin Issuer Tether Dismisses Wall Street Journal's Claim of Inadequate Reserves

The newspaper reported that the firm's assets outweigh its liabilities by just $191 million, implying a relatively "thin cushion of equity."

Tether Chief Technology Officer Paolo Ardoino.  (Twitter/Bitfinex, modified by CoinDesk)

Finanzas

New Auditor for Stablecoin Issuer Tether Confirms Slashing of Commercial Paper Holdings

BDO Italia said the holdings fell 58% to $8.5 billion at the end of the most recent quarter.

Tether Chief Technology Officer Paolo Ardoino.  (Twitter/Bitfinex, modified by CoinDesk)

Layer 2

Tether ‘Transparency Is Needed’ Following Terra’s UST Collapse: Analyst

The director of blockchain market research Quantum Economics said during CoinDesk TV's "First Mover" that Tether should be more transparent about “what they actually hold on their balance sheets.”

Alexandre Lores on CoinDesk TV's "First Mover." (Modified by CoinDesk)

Mercados

PwC Switzerland Incorporates ChainSecurity Team to Expand Blockchain Audit Tools

Officially, it’s not an acquisition. But seven technical engineers are joining the accounting firm to bolster its smart contract auditing abilities.

PwC image via Shutterstock

Mercados

Firm That Monitors USDC Stablecoin Audited Over $10 Billion in Client Assets

Grant Thornton audited more than $10 billion spread over 40 cryptocurrencies in more than 100 million addresses.

Code image via shutterstock

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