Competitor Bitpanda commissions KPMG with a special audit

Frankfurt After the collapse of the FTX crypto exchange, the Viennese competitor Bitpanda commissioned KPMG to carry out a special audit of the assets. At the same time, co-boss Eric Demuth assured in an interview with Bloomberg that all investments were safe. He also reported an influx of new customers and called for more effective regulation.

In light of the recent development, KPMG’s audit aims to show that client funds are backed by the crypto assets stored in Bitpanda’s cold wallets. It includes the five most popular crypto assets, including Bitcoin, for example.

Demuth assured: “We keep all customer funds and cryptocurrencies separate. They’re 100 percent there,” he said. “We do not speculate with our customers’ assets.”