These verifications of assets take a simple snapshot and “do not address the crypto entity’s liabilities, the rights and obligations of the digital asset holders, or whether the assets have been borrowed by the crypto entity to make it appear they have sufficient collateral,” according to the PCAOB. And such documents definitely don’t prove anything about a company’s internal controls or governance, the board added.
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FTX legal team calls for Sam Bankman-Fried’s family to answer questions...
Lawyers representing FTX in bankruptcy court have reportedly argued that former CEO Sam Bankman-Fried’s immediate family should face questioning regarding their personal wealth.According to...