Thursday, April 3, 2025
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Sen. Warren calls out ‘sham audits’ while SVB threatens crypto bankruptcy

United States Senators Elizabeth Warren and Ron Wyden asked the Public Company Accounting Oversight Board (PCAOB) to hold auditors accountable for failed crypto projects. The PCAOB — a non-profit overseeing the audits of public companies and other issuers — recently stated that proof-of-reserves (POR) are not equivalent to audits and are

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Aave Launches Stablecoin GHO on Ethereum Goerli Testnet with Open Source Codebase and Audits – Altcoins Bitcoin News

Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on Github and has undergone audits by Open Zeppelin, Sigmaprime and ABDK. Aave Invites Programmers to Test GHO Before Mainnet Deployment On

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‘I Take Payment in Bitcoin’; Big Short Investor Says Audits of Exchanges like Binance and FTX Are ‘Meaningless,’ and More — Week in Review – The Weekly Bitcoin News

Ahead of the holidays and new year, the former U.S. National Security Agency (NSA) contractor known to the world as a staunch privacy advocate and whistleblower, Edward Snowden, has offered to step up as the new CEO of Twitter after current “Chief Twit” Elon Musk has said he is stepping

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Be ‘very wary’ of crypto proof-of-reserve audits: SEC official

A senior official from the United States Securities and Exchange Commission has warned investors to be “very wary” about relying on a crypto company’s “proof-of-reserves.”“We’re warning investors to be very wary of some of the claims that are being made by crypto companies,” said SEC’s acting chief accountant Paul Munter

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Big Short Investor Michael Burry Says Audits of Crypto Exchanges Like Binance and FTX Are ‘Meaningless’ – Featured Bitcoin News

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says the problem with auditing cryptocurrency exchanges, like Binance and FTX, is the same as when he started using a new kind of credit default swap. “Our auditors were learning on the job,” he described, adding that it’s

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Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web – Bitcoin News

The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducting a number of POR audits for crypto exchanges like Binance, Crypto.com, and Kucoin following the FTX collapse last month. Mazars Group

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