But attestations are not audits. They do not examine internal controls, governance, or the valuation methodology behind complex or illiquid assets. At best, you can call an attestation a photograph of a balance sheet, but it doesn’t show how the company got there.For years, Tether relied on attestations from BDO Italia, its Italian auditing partner since 2022, which confirmed at a point in time that the assets Tether claimed to hold were, in fact, held.Tether holds roughly $17.5 billion in gold reserves , a ...

Tether Hires Accountants KPMG And PwC Ahead Of U.S. Expansion Stablecoin issuer Tether has hired leading accounting firms KPMG and PwC as it prepares for an aggressive expansion into the U.S. market.  Media reports say that Tether has hired KPMG to carry out an audit on its $185 billion U.S. dollar-pegged USDT (CRYPTO: $USDT) stablecoin.  Tether has engaged PwC to prepare its internal systems ahead of the audit.  More From Cryptoprowl: The hiring of the accounting firms comes as Tether prepares for full f ...

House Financial Services Committee ranking Democrat Rep. Maxine Waters sent a formal letter Thursday to Federal Reserve Bank of Kansas City President Jeff Schmid, demanding answers on why Kraken’s banking subsidiary was granted a Federal Reserve master account, and what that access actually means in practice. Waters set an April 10 response deadline, asking Schmid to detail which Fed services Kraken can access, what restrictions apply, and what anti-money laundering and consumer protection measures were ...

Key Takeaways A new draft of the Clarity Act is said to restrict stablecoin rewards and disallows trading platforms like Coinbase from offering them at all. That news weighed heavily on some crypto players this week. Circle fell roughly 20% yesterday as details leaked to the public suggested banks got the upper hand in negotiations. Shares of exchanges including Coinbase, the Winklevosses' Gemini and Bullish also fell. How sensitive are crypto-stock investors to news coming out of Washington, D.C. ...

Bitcoin Depot has replaced its CEO and executive chairman in a sudden leadership overhaul that signals a forced maturation for the crypto ATM industry. The world’s largest kiosk operator announced the departure of CEO Scott Buchanan and founder Brandon Mintz’s step-back from executive duties, bringing in former MoneyGram chief Alex Holmes to take the wheel. This follows immediately after Connecticut regulators issued a cease-and-desist order to shut down the company’s machines in the state. The timing i ...

Circle (CRCL) rebounded as much as 7% on Wednesday, recovering from its biggest single-day drop on record as Wall Street digested details of proposed legislation that would limit rewards on stablecoin balances. Rising competition from rival Tether may also have contributed to the dramatic move, which saw Circle fall 20% on Tuesday. Trading platform Coinbase (COIN), a Circle partner that receives revenue from the stablecoin issuer, also rebounded 4% on Wednesday after sinking 8% in the prior session. (D ...

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our new daily news show covering all of the top stories in 5 minutes or less, downloadable on Apple Pod or Spotify. GM! Today’s top news: Crypto majors gring higher as U.S. lays out path to end war; BTC +1% at $71.4k TAO leads all top movers, jumps 15%; Intel co-authors whitepaper with subnet team Circle stock drops 20% over new ...

Circle Internet Group (NYSE:CRCL), a leading stablecoin issuer, closed Tuesday at $101.17, down 20.1%. The stock, which is still up 27.6% year-to-date, declined after news that proposed crypto regulation might tighten limits on stablecoin yields. Trading volume reached 56.4 million shares, coming in about 289% above its three-month average of 14.5 million shares. Circle Internet Group IPO'd in 2025 and has grown 46.6% since going public. How the markets moved today The S&P 500 (SNPINDEX:^GSPC) slipped 0 ...

Key takeaways Crypto stocks fall as new stablecoin draft tightens reward rules Coinbase and Circle hit hardest due to USDC exposure Debate over stablecoin yield highlights regulatory uncertainty Popular crypto stocks tumbled on March 24 as reports of a revised US stablecoin bill triggered a sharp sell-off. The decline comes as lawmakers, crypto firms, and banking executives continue negotiations around a new regulatory framework, with meetings held from March 23 to March 24 to finalize a stablecoin ...

This week, crypto prices rise, but hotter than expected inflation data put a dent in recent gains. The SEC and CFTC issue guidelines on regulatory classification of crypto assets. And Bamazi of Mesh discusses running a crypto firm in the midst of current market volatility.Welcome to CNBC's Crypto World. I'm Mackenzie Sagallos. Major cryptocurrencies in the green from a week ago.As of noon Eastern, Bitcoin rose more than 1%, trading at that $70,000 level. Ether jumped more than 5% and XRP climbed more than 3 ...