FTX.US Accounting Firm Armanino Ends Crypto Audit Practice

12/16 10:40

Armanino is ending its crypto audit practice and dropping clients, two sources familiar with the matter say.The unit may be folding under pressure from Armanino’s non-crypto clients, concerned that reputational risk to the firm will throw their audits into question, according to a source with knowledge of the firm’s crypto offerings. Last month, Armanino was named in a class-action lawsuit for failing to catch irregularities at FTX.US after performing the exchange’s audit last year. The suit was filed by Stephen Pierce, an FTX customer who allegedly lost $20,000.Armanino did not respond to requests for comment.

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