June 28 (Cointime) - The team that previously worked with Sam Bankman-Fried on FTX.US's books has performed the Proof of Reserves attestation for TrueUSD. Armanino, the accounting firm that birthed The Network Firm, stopped conducting crypto audits last year, making it difficult for crypto firms to secure audits and reserve attestations from prominent accounting firms. FTX was criticized for its lack of internal controls, with its new CEO appointed for bankruptcy proceedings stating that it "did not keep appropriate books and records or security controls." The recent attestation by The Network Firm showed that TrueUSD has $26,000 worth of funds at U.S. depository institutions, but it did not specify which ones.
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