Corporate Finance, DeFi, Blockchain, Web3 News
Fintech, DeFi, Blockchain, Web3 Daily News by Finyear Receives BTC Reserves Assessment Audit from Armanino, Assures 100% Asset Safety

Global digital asset exchange, has received a 100% "proof of assessment" certificate after completing a thorough audit performed by the leading accounting firm Armanino LLP. The certificate states that's collateralization ratio (assets-to-liabilities) stands at 104%; has Bitcoin reserves exceeding 100% of customer liabilities. With this new certification from Armanino, also becomes the first-ever mainstream exchange to receive a 100% proof of its reserves.

In Feb 2020, released a technical proof about providing users with a method to check their collateral, including their total assets on the platform. This feature allows users to check their balance on the website, where the written audit report and the Merkle tree of the hash value of users' total assets are shown; users can exercise their rights to check how their assets are placed using the Merkle Tree.

"The latest BTC Reserves Assessment Report from Armanino is proof that our users' assets are 100% safe and we are excited to pass on this confidence to our users. This is a significant addition to our suite of user transparency and security protocols. Generally, in a centralized exchange, users do not know how their assets are placed or if the company reserves are lower than the recorded assets in the database. This could pose tremendous risks to the users, including delayed withdrawals. However, our successful reserve assessment audit is a testament to how we are users-first," said Marie Tatibouet CMO at and Armanino collaborated to perform a Proof of Reserves assessment earlier this year. Armanino followed a process following "Statement on Standards for Consulting Services" promulgated by the American Institute of Certified Public Accountants (AICPA).

About is a global blockchain asset exchange platform established in 2013 and developed fully in-house. enables blockchain enthusiasts to trade and store assets in over 200 of the leading crypto currencies. Recognising the importance of blockchain security, sets itself apart by prioritising security and experience, providing users with quick and easy access to assets, at a time and place to suit them.

About Armanino LLP
Armanino is one of the top 25 largest independent accounting and business consulting firms in the United States. Armanino provides an integrated set of audit, tax, consulting, business management and technology solutions to companies in the U.S. and globally.
Related Links


No Offer, Solicitation, Investment Advice, or Recommendations

This website is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by FINYEAR.
No reference to any specific security constitutes a recommendation to buy, sell or hold that security or any other security.
Nothing on this website shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction.
Nothing contained on the website constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed on this website should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this website, we have not taken into account the investment needs, objectives and financial circumstances of any particular investor.
This information has no regard to the specific investment objectives, financial situation and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors.
Any views expressed on this website by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change.
All information is subject to possible correction. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.

Lundi 25 Mai 2020

Articles similaires
< >

Jeudi 6 Octobre 2022 - 17:14 What is SOL Coin?