proof of reserves
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Proof-of-reserves could have potentially prevented such catastrophic failures like the 2022 crypto market collapse
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If we can’t bring real context to the world of blockchain data, then we’ll be stuck with useless solutions like proof-of-reserves for the foreseeable future
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There’s no magical guarantee that comes with the word “audit” — let’s start calling things what they really are
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Accounting firms acting as crypto ‘auditors’ are warned to disassociate with clients if they spot misleading statements — or tell the SEC
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Bloomberg found that nearly half of crypto companies recently surveyed receive audit services from Deloitte, EY, PwC or KPMG
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The bill focuses on digital asset providers who have $10 million in customer funds or over 500 customers
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The US audit watchdog has warned not to put too much stock in proof of reserve reports from crypto companies
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Most chief financial officers say finding qualified and experienced DeFi-native asset managers will be key going forward
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Circle, who for years partnered with firm Grant Thornton for its audits, makes the switch to Deloitte as various accounting firms express concern over working with crypto companies
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The short- and long-term outlooks for the publicly traded crypto exchange differ as the crypto winter rages on, analysts say
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The largest crypto exchange is back to holding about 80% of market share relative to 11 other centralized exchanges, up from a low of around 67%
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Crypto firms are looking to augment transparency efforts, but auditing firms are halting work in the crypto space
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The exchange is looking for another auditor to validate proof of reserves after reports that Mazars and Armanino are pausing work in the sector
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Armanino, the auditing firm who spearheaded proof of reserves, is reportedly giving up its crypto clientele amid the FTX scandal.
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Binance hopes its proof of reserves reassures users that funds are safe, but the ecosystem is grappling with trust in centralized platforms
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Proof of reserves is an attempt by exchanges to reassure their customers — but they have a long way to go
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Wrapped Filecoin’s path to a DeFi-grade commodity gets closer with Gemini offering Chainlink’s Proof of Reserve support for EFIL.
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