Circle’s Accountant Tweaks Fine Print of USDC Attestation

“Most auditors and attestors do not use the word ‘correct,’ and it would only be used where a precise measurement is available,” said Michael Shaub, an accounting professor at Texas A&M University’s Mays Business School. “I assume crypto is an example of where precise measurement is possible. I am just guessing, but I assume GT [Grant Thornton] was not comfortable going forward with saying it was correct because it no longer matched Circle’s language, the party making the assertion.”

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