Grant Thornton, the firm that audits Circle's USDC stablecoin, on Thursday announced that it audited more than $10 billion in crypto assets in the first quarter of this year.
The audit company believed to have 15 to 20 clients including crypto exchanges and major crypto businesses.
“Cryptocurrency companies must contend with an auditing challenge that is at once simple and complex,” Johnny Lee, national practice leader for forensic technology services at Grant Thornton, said. “First, can you prove that you own and control the assets you are claiming as yours? And, second, do those assets really exist – and can you prove as much?”
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The Chicago-headquartered company scrutinized 40 digital currencies including Bitcoin, Bitcoin Cash, Ethereum, XRP, EOS, Tezos, Zcash, Monero, and a number of ERC-20 tokens. It also detailed that its proprietary audit platform examined more than 100 million cryptocurrency addresses. Read More at FinanceMagnates...