Share a game plan: Where do investors go from here: bank or crypto?
United States Senators Elizabeth Warren and Ron Wyden asked the Public Company Accounting Oversight Board to hold auditors accountable for failed crypto projects.
The PCAOB — a non-profit overseeing the audits of public companies and other issuers — recently stated thatare not equivalent to audits and are not conducted in accordance with PCAOB auditing standards. POR is a method widely adopted by crypto exchanges to confirm the availability of users’ funds. However, Sen. Warren demanded stricter oversight:
“But let's be clear: there's more PCAOB needs to do so consumers aren't left holding the bag when shady crypto firms collapse.” The crypto community contrasted her statement as numerous members highlighted the ongoing collapse of Silicon Valley Bank , a Federal Deposit Insurance Corporation-insured bank.
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