fbpx
Bullish
No Result
View All Result
  • News
    Latest News
    People
    Currencies
    Tech
    Markets
    Policy & Regulation
    Business
    Exchanges
    Latest News
    People
    Currencies
    Tech
    Markets
    Policy & Regulation
    Business
    Exchanges
  • Features
  • Australia
  • Top Coins
  • Topics
    Bitcoin
    Ethereum
    Cryptocurrencies
    NFTs
    DeFi
    Gaming
    Trading
    Bitcoin
    Ethereum
    Cryptocurrencies
    NFTs
    DeFi
    Gaming
    Trading
  • Exchanges
    Latest News
    Recommended Exchanges
    How to Buy Bitcoin
    How to Sell Bitcoin
    Latest News
    Recommended Exchanges
    How to Buy Bitcoin
    How to Sell Bitcoin
  • Guide
    ALL 101 Guides
    Blockchain
    Trading
    ICOs
    Bitcoin
    Ethereum
    Currencies
    ALL 101 Guides
    Blockchain
    Trading
    ICOs
    Bitcoin
    Ethereum
    Currencies
  • News
    Latest News
    People
    Currencies
    Tech
    Markets
    Policy & Regulation
    Business
    Exchanges
    Latest News
    People
    Currencies
    Tech
    Markets
    Policy & Regulation
    Business
    Exchanges
  • Features
  • Australia
  • Top Coins
  • Topics
    Bitcoin
    Ethereum
    Cryptocurrencies
    NFTs
    DeFi
    Gaming
    Trading
    Bitcoin
    Ethereum
    Cryptocurrencies
    NFTs
    DeFi
    Gaming
    Trading
  • Exchanges
    Latest News
    Recommended Exchanges
    How to Buy Bitcoin
    How to Sell Bitcoin
    Latest News
    Recommended Exchanges
    How to Buy Bitcoin
    How to Sell Bitcoin
  • Guide
    ALL 101 Guides
    Blockchain
    Trading
    ICOs
    Bitcoin
    Ethereum
    Currencies
    ALL 101 Guides
    Blockchain
    Trading
    ICOs
    Bitcoin
    Ethereum
    Currencies
No Result
View All Result
Bullish
No Result
View All Result
  • bitcoin
    BTC$60,940.73-0.92%
  • ethereum
    ETH$4,591.27-1.80%
  • ripple
    XRP$1.07-2.62%
  • cardano
    ADA$1.47-1.97%
  • dogecoin
    DOGE$0.212-0.35%
  • Bitcoin(BTC)
    bitcoin
    $60,940.73 -0.92%(24H Vol)
    $25,932,400,765.34
    Ethereum(ETH)
    ethereum
    $4,591.27 -1.80%(24H Vol)
    $17,038,931,087.53
    Tether(USDT)
    tether
    $1.44 0.020%(24H Vol)
    $60,924,816,233.84
    USD Coin(USDC)
    usd-coin
    $1.44 0.110%(24H Vol)
    $4,632,196,456.23
    XRP(XRP)
    ripple
    $1.07 -2.62%(24H Vol)
    $3,761,841,285.11
    Cardano(ADA)
    cardano
    $1.47 -1.97%(24H Vol)
    $1,060,112,350.10
    Polkadot(DOT)
    polkadot
    $27.34 -3.96%(24H Vol)
    $752,673,149.68
    Dogecoin(DOGE)
    dogecoin
    $0.212 -0.35%(24H Vol)
    $2,463,236,866.81
    Wrapped Bitcoin(WBTC)
    wrapped-bitcoin
    $60,881.67 -1.06%(24H Vol)
    $296,733,390.24
    Dai(DAI)
    dai
    $1.44 0.140%(24H Vol)
    $372,112,971.91
    Cosmos Hub(ATOM)
    cosmos
    $37.89 -2.59%(24H Vol)
    $469,583,765.95
    Litecoin(LTC)
    litecoin
    $157.54 -2.67%(24H Vol)
    $704,991,922.58
    Chainlink(LINK)
    chainlink
    $21.55 -3.53%(24H Vol)
    $623,319,158.83
    TRON(TRX)
    tron
    $0.089 -2.52%(24H Vol)
    $1,478,929,376.93
    Bitcoin Cash(BCH)
    bitcoin-cash
    $456.75 -2.49%(24H Vol)
    $559,899,659.49
    Ethereum Classic(ETC)
    ethereum-classic
    $57.15 -4.88%(24H Vol)
    $955,625,885.48
    Algorand(ALGO)
    algorand
    $1.08 -3.26%(24H Vol)
    $141,355,785.54
    Stellar(XLM)
    stellar
    $0.286 -2.75%(24H Vol)
    $280,152,397.46
    Uniswap(UNI)
    uniswap
    $13.97 -3.38%(24H Vol)
    $203,616,208.14
    Monero(XMR)
    monero
    $346.16 -0.61%(24H Vol)
    $457,689,264.34
    Filecoin(FIL)
    filecoin
    $29.68 -4.60%(24H Vol)
    $385,447,925.76
    Decentraland(MANA)
    decentraland
    $3.24 -2.59%(24H Vol)
    $245,100,899.19
    Tezos(XTZ)
    tezos
    $4.48 -2.46%(24H Vol)
    $131,460,761.94
    The Graph(GRT)
    the-graph
    $0.550 -4.37%(24H Vol)
    $220,300,351.00
    Aave(AAVE)
    aave
    $249.03 -4.06%(24H Vol)
    $343,777,237.56
    EOS(EOS)
    eos
    $3.34 -2.98%(24H Vol)
    $521,516,176.61
    Waves(WAVES)
    waves
    $32.69 -13.23%(24H Vol)
    $972,557,190.95
    Zcash(ZEC)
    zcash
    $230.76 -5.13%(24H Vol)
    $218,319,666.32
    IOTA(MIOTA)
    iota
    $1.02 -3.59%(24H Vol)
    $51,844,065.04
    Maker(MKR)
    maker
    $2,910.52 -1.97%(24H Vol)
    $54,823,162.71
    Bitcoin SV(BSV)
    bitcoin-cash-sv
    $122.22 -1.65%(24H Vol)
    $170,851,571.88
    NEO(NEO)
    neo
    $30.71 -4.18%(24H Vol)
    $160,114,622.92
    Loopring(LRC)
    loopring
    $1.37 -3.80%(24H Vol)
    $164,501,786.54
    Dash(DASH)
    dash
    $157.02 -3.66%(24H Vol)
    $284,774,284.60
    Basic Attention Token(BAT)
    basic-attention-token
    $1.05 -4.51%(24H Vol)
    $79,256,768.58
    Pax Dollar(USDP)
    paxos-standard
    $1.44 0.110%(24H Vol)
    $12,069,223.63
    NEM(XEM)
    nem
    $0.147 -2.54%(24H Vol)
    $23,532,742.14
    Kava(KAVA)
    kava
    $6.71 1.56%(24H Vol)
    $148,149,890.52
    Decred(DCR)
    decred
    $82.50 -2.73%(24H Vol)
    $4,506,813.68
    yearn.finance(YFI)
    yearn-finance
    $28,674.57 -2.87%(24H Vol)
    $91,360,004.87
    Qtum(QTUM)
    qtum
    $9.61 -4.44%(24H Vol)
    $115,612,566.18
    OMG Network(OMG)
    omisego
    $6.66 -4.29%(24H Vol)
    $120,621,576.20
    Bancor Network Token(BNT)
    bancor
    $3.56 -3.79%(24H Vol)
    $20,980,052.41
    0x(ZRX)
    0x
    $1.06 -6.95%(24H Vol)
    $76,322,192.34
    Bitcoin Gold(BTG)
    bitcoin-gold
    $50.95 -5.38%(24H Vol)
    $17,849,135.91
    PAX Gold(PAXG)
    pax-gold
    $2,804.98 -0.04%(24H Vol)
    $15,210,242.65
    ICON(ICX)
    icon
    $1.15 -5.22%(24H Vol)
    $27,115,519.52
    Siacoin(SC)
    siacoin
    $0.016 -4.02%(24H Vol)
    $17,525,840.61
    Kyber Network Crystal(KNC)
    kyber-network-crystal
    $6.05 18.23%(24H Vol)
    $233,882,247.05
    NuCypher(NU)
    nucypher
    $0.577 -2.57%(24H Vol)
    $1,716,042.53
    REN(REN)
    republic-protocol
    $0.526 -6.90%(24H Vol)
    $49,536,490.90
    Nano(XNO)
    nano
    $3.43 -0.94%(24H Vol)
    $30,279,326.49
    Lisk(LSK)
    lisk
    $3.07 -3.71%(24H Vol)
    $10,878,509.68
    Fetch.ai(FET)
    fetch-ai
    $0.537 -6.17%(24H Vol)
    $42,592,599.71
    Civic(CVC)
    civic
    $0.412 -5.11%(24H Vol)
    $26,831,647.55
    Aragon(ANT)
    aragon
    $6.51 -3.02%(24H Vol)
    $35,626,241.80
    Numeraire(NMR)
    numeraire
    $40.21 -1.85%(24H Vol)
    $3,525,344.37
    Band Protocol(BAND)
    band-protocol
    $5.68 -4.49%(24H Vol)
    $28,464,217.82
    Orchid Protocol(OXT)
    orchid-protocol
    $0.382 -5.06%(24H Vol)
    $23,177,185.88
    Storj(STORJ)
    storj
    $1.55 -4.58%(24H Vol)
    $28,390,365.50
    Enzyme(MLN)
    melon
    $81.22 -1.51%(24H Vol)
    $9,835,854.74

    KMPG adds crypto to balance sheet

    Pat Daniel by Pat Daniel
    March 1, 2022
    in Business
    Share on FacebookShare on Twitter

    The Canadian branch of one of the world’s largest and most respected accounting firms just added Bitcoin and Ethereum to its corporate balance sheet. KPMG Canada reported on 7th February 2022 that it had completed an allocation of crypto assets to its corporate treasury, making a direct investment in bitcoin and Ethereum.

    During the announcement, KPMG’s Benjie Thomas, the Canadian Managing Partner, Advisory Services said that “crypto-assets are a maturing asset class”. He added:

    “This investment reflects our belief that institutional adoption of crypto-assets and blockchain technology will continue to grow and become a regular part of the asset mix.”

    Apart from Tesla, Square, and MicroStrategy, KPMG becomes one of the few publicly traded companies to get into the crypto space. Being one of the most respected global firms providing accounting, financial advisory, and taxation services, this move is a huge vote of confidence in the future of blockchain and crypto in particular.

    Kareem Sadek, an advisory partner of blockchain and crypto for KPMG Canada, said,

    “We believe in this sector, we believe in this industry, and we believe that there’s many (sic) good stuff to come.”

    KPMG’s Getting “Skin in the Game”

    Speaking to Coindesk TV, Kareem Said that the firm didn’t just do it on a whim. As a financial advisory firm with clients all over the globe, KPMG is expected to be prudent and to do the necessary due diligence. 

    Kareem said that it took months of consultation and assessment and that it was mainly driven by the firm’s belief in the utility of the underlying technology of blockchain and crypto. They also consulted experts and professionals in the industry, eventually working with Gemini Trust’s execution and custody services to acquire bitcoin and ether.

    In Kareem’s own words, it was important that KPMG needed to get “skin in the game,” to understand the industry more deeply so that they can better advise clients. 

    KPMG has many corporate clients who already hold crypto assets-in fact, MicroStrategy is a client of KPMG US. The firm wants to be able to tell its clients, “we have done it ourselves, we have been there, we understand.”

    Firm Attracted by Growing Interest

    Like other big companies investing in various sectors of blockchain and cryptocurrency, KPMG has been attracted by the growing utility of blockchain technology as a whole. A quarter of businesses are willing to accept crypto as payment, and many banks, family offices, and various investment vehicles are looking to invest in crypto or blockchain.

    In addition, global crypto users are expected to hit 1 billion. 

    Kareem said that KPMG Canada isn’t stopping with having crypto on its balance sheet. The firm will also look at “very prudent ways of investing … in something that aligns with KPMG’s values.” 

    He didn’t rule out adding more BTC and ETH to the balance sheet, as well as building “capabilities across Decentralised Finance (DeFi), Non-Fungible Tokens (NFTs) and the Metaverse, to name a few.” 

    As yet, no one has provided further information about how much the firm invested in crypto assets.

    KPMG Also Bought Carbon Offsets

    At the same time, KPMG Canada also bought carbon offsets, in keeping with its environmental, social, and governance (ESG) commitments. Clearly, the firm has thought long and hard on this and intends to keep up with the trend for a long time. 

    The other three of the Big Four firms, PricewaterhouseCoopers, Ernst and Young, and Deloitte, are yet to get directly involved with crypto, but KPMG’s move could result in a domino effect. Institutional investment in crypto is expected to continue rising, even as the city of Rio de Janeiro wants to invest 1% of its treasury in crypto.

    At the time of writing, BTC is up to $59,271.89 AUD, a 29% increase from its all-time low of about $42,041.97 AUD last year, and could continue to rally on the strength of this.

    Previous Post

    Bitcoin Whale deposits $1.9 Billion, making them #14 on bitcoin rich list

    Next Post

    Bitcoin Hashrate reaches all-time high after 30%

    Related Posts

    Will stETH, Celsius, Three Arrow Capital Be The Next Victims of Market Crash?
    Business

    Will stETH, Celsius, Three Arrow Capital Be The Next Victims Of Market Crash?

    June 27, 2022
    Bitcoin News
    This Is You Need to Know About Betashare ETF
    Business

    This Is You Need To Know About Betashare ETF

    June 27, 2022
    Australia, ETF
    What Is a Dynamic NFT?
    Business

    What Is A Dynamic NFT?

    June 27, 2022
    NFT
    Citi Will Introduce Bitcoin Custody Services for Institutional Investors
    Business

    Citi Will Introduce Bitcoin Custody Services For Institutional Investors

    June 26, 2022
    Bitcoin News
    Next Post
    macro miner figures working bitcoin-virtual-cryptocurrency mining concept

    Bitcoin Hashrate reaches all-time high after 30%

    Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    coin culture logo

    Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets and investing. Discover educational articles for crypto newbies, as well as the latest news for more seasoned investors.

    Follow us

    About

    • News
    • Features
    • Australia
    • Top Coins
    • Topics
    • Exchanges
    • Guide

    Useful Guides

    • All Guides
    • Bitcoin Guide
    • Ethereum Guide
    • Blockchain

    Browse by Tag

    Adoption Altcoin News Australia Banks Bitcoin Bitcoin News Blockchain Blockchain News btc Business Cardano Cardano News CBDC China Coinbase CoinSpot Crypto Cryptocurrencies Crypto Exchange DeFi Dogecoin News El Salvador ETF Ethereum News Exchanges Games Markets Metaverse Mining NFT Opinion People Policy and Regulation Russia SEC Security Shiba Inu Shiba Inu News Solana Stablecoins Tax Tech Terra Trading U.S.

    Recent Posts

    • Solana Labs Is Constructing A Web3 Mobile Phone
    • Will stETH, Celsius, Three Arrow Capital Be The Next Victims Of Market Crash?
    • This Is You Need To Know About Betashare ETF

    © 2021 CoinCulture. All rights reserved.

    No Result
    View All Result
    • News
      • Latest News
      • Currencies
      • Tech
      • Markets
      • Policy Regulation
      • Business
    • Features
    • Australia
    • Topics
      • Bitcoin
      • Ethereum
      • Defi
      • NFT
      • Gaming
      • Trading
    • Exchanges
      • Latest News
      • Recommended Exchanges
      • How to Buy Bitcoin
      • How to Sell Bitcoin
    • Guide
      • All Guide
      • Bitcoin Guide
      • Ethereum Guide
      • Blockchain
      • Trading
      • ICO Guides
      • Currencies
        • Bitcoin Cash
        • Ripple

    © 2021 CoinCulture. All rights reserved.