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Bitpanda Hires KPMG to Verify Assets in Wake of FTX Bankruptcy

Nov. 15, 2022, 11:12 AM

Austrian cryptocurrency trading platform Bitpanda GmbH hired an auditor to help ensure the assets of its 3.8 million users are safe as fallout from FTX’s bankruptcy ripples through the industry.

The company has asked KPMG to verify that customer assets are covered by corresponding crypto funds stored in Bitpanda’s cold wallets, it said in a statement to Bloomberg. The audit covers the five most popular tokens on Bitpanda, including Bitcoin.

FTX’s sudden implosion and questions over how it handled customer funds has raised concerns about the stability of other exchanges. Former US Treasury Secretary Lawrence Summers compared the collapse ...