Tether Says Audit Is Still Months Away as Crypto Market Falters

This year’s slump in digital assets is pressuring crypto companies to show investors that their money is safe. So far, they haven’t delivered.

Many crypto companies lack the basic financial guardrails that help protect investors in traditional banks. Firms often don’t publish financial statements, or have anyone check their books. Even if they are audited, there are no agreed accounting standards for digital assets.