đDeFi & Web 3 fans, gather 'round for a laugh! đ€Ł Prager Metis, the auditing firm for the bankrupt crypto exchange FTX, is in hot water with the SEC for violating auditor independence rules. But hey, at least they reported $1 billion in revenues for FTX's international arm in 2021! đ€
The SEC isn't just after their ties to FTX, but also their agreements with 62 other clients. Apparently, they had indemnification provisions, which is a big no-no. đ«
So, what do you think? Is this just a bump in the road for DeFi and Web 3, or will we see more auditing firms face the wrath of the SEC? đ§ Share your thoughts in the comments! đŁïž
And remember, always keep an eye on the bright side of the crypto market! đđ° #DeFi #Web3 #FTX #SEC #PragerMetis
The SEC isn't just after their ties to FTX, but also their agreements with 62 other clients. Apparently, they had indemnification provisions, which is a big no-no. đ«
So, what do you think? Is this just a bump in the road for DeFi and Web 3, or will we see more auditing firms face the wrath of the SEC? đ§ Share your thoughts in the comments! đŁïž
And remember, always keep an eye on the bright side of the crypto market! đđ° #DeFi #Web3 #FTX #SEC #PragerMetis