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They’ve only stated that because it’s not obvious there are any big legit crypto companies. If kraken looked fully above board, the big 4 accounting companies would be willing to take it on as a client.

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I don't like crypto and I don't fully buy the Kraken audits, but man, are the Big 4 also full of s**. I wouldn't say any legit (if such exists) crypto firm can do anything to be taken on as a client at this point.

Which is ironic because the Big 4 are not known for aggressive auditing. There have been plenty of cases in trad-fi where a positive audit was followed by collapse, and sometimes evidence of criminality.

> There have been plenty of cases in trad-fi where a positive audit was followed by collapse, and sometimes evidence of criminality.

I mean, audits should trigger a collapse... I assume once people inside realize the audit passed, they'll be more blatant and likely to blow up their scheme.

Sure but it changes nothing, as I said. Assume 99.9% of companies are fraudulent and that’s why they won’t do audits. You can’t say the 0.1% are fraudulent because they can’t get them to break their policy. You can only ask them to do what they can do.

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