4min chapter

Crypto Critics' Corner cover image

The Foul Financials of Cryptocurrency (Feat. Francine McKenna)

Crypto Critics' Corner

CHAPTER

Doing a Financial Audit Isn't the Same as Doing a Financial Audit

Stable coin executives have claimed at times that it is literally impossible for them to get an audit, and an attestation is the absolute highest level of assurance they can provide. You're basically just getting an assurance that as of december 30 first, for example, the auditor has gone through all these additional procedures,. But again, you're still doing an auditas of a particular date. So that too is sort of lacks sort of go forward value. It's taking them a month and a half to do that, and then assigning ther doesn't really do any good.

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