FTX US auditor Armanino defends work for failed crypto exchange | Financial Times

The auditor of FTX’s bankrupt US exchange business said it stood by its work for Sam Bankman-Fried and was proud of having provided services for a cryptocurrency industry that needed to improve trust and transparency, but it would ditch its digital assets practice by the end of next month.

In the first interview by a leader of the accounting firm Armanino since the collapse of FTX last month, chief operating officer Chris Carlberg said “market conditions” had changed and it would stop providing financial statement audits and so-called proof of reserves reports for the crypto industry.

California-based Armanino gave a clean bill of health to 2020 and 2021 financial statements from FTX US, a branch of the Bankman-Fried crypto empire that offered trading for US residents. FTX US collapsed into bankruptcy along with FTX’s larger international exchange business last month.

Source: FTX US auditor Armanino defends work for failed crypto exchange | Financial Times