News

KPMG Canada Adds Bitcoin and Ethereum to Balance Sheet

  • KPMG Canada has added Bitcoin and Ethereum to its balance sheet.
  • The company assured that it took a “rigorous risk assessment” prior to investing.
  • Aside from crypto, the company is also interested in DeFi, NFTs, and the metaverse.

The Canada branch of auditing juggernaut KPMG recently announced that it has added Bitcoin (BTC) and Ethereum (ETH) to its balance sheet. This is the firm’s “first of its kind” investment into crypto.

Read CRYPTONEWSLAND on google news

KPMG Canada purchased the mentioned crypto assets through the US-based crypto exchange Gemini. According to the company’s announcement, this will not be its last engagement with innovations that came through blockchain.

Kareem Sadek, KPMG Canada’s Advisory Partner, said:

“The cryptoasset industry continues to grow and mature and it needs to be considered by financial services and institutional investors.”

In fact, the company is also interested in decentralized finance (DeFi), non-fungible tokens (NFTs), and the metaverse. “We expect to see a lot of growth in these areas in the years to come,” Sadek added.

KPMG Canada assured that it took a “rigorous risk assessment” of Bitcoin and Ethereum prior to investing in these assets. They also considered the tax and accounting implications of the transaction.

Meanwhile, the company did not specify how much bitcoins or ethers it has at the time of publication.

CryptoNewsLand Editor

CryptoNewsLand (CNL) is a one-stop online crypto news website that offers the latest happenings in the crypto world.

Recent Posts

XRP Rides High on Market Sentiment Boost from CPI Decline!

#XRP rides the wave of optimism as US CPI data sparks market rally. Technical analysis…

11 mins ago

Cardano Shows Bullish Signs as MVRV Ratio Improves

#Cardano shows bullish signs with an improved MVRV ratio and a surge in whale activity!…

1 hour ago

Top Airdrops in May 2024: How NOT & DRIFT, Are Revolutionizing the Crypto Market

🚀 Exciting times for crypto! 🌐 Discover how #Notcoin (NOT) & #DriftProtocol (DRIFT) are changing…

8 hours ago

Satoshi’s Vault: Unintended BTC Transfer Raises Questions on Dormant Wallets

Discover how a costly Bitcoin transfer to Satoshi Nakamoto's address sparks intrigue and debate in…

9 hours ago

Power vs. Profits: Venezuela’s Crypto Ban Aims to Revive Its Energy Grid

Venezuela bans crypto mining to stabilize power, confiscating devices & targeting corruption. Public collaboration urged…

10 hours ago

From Trump to Bieber: Meet the Top  5 Celebs Dominating the Digital Asset Realm

🚀💰 From Trump to Bieber: Top 5 Celebs Rocking the Crypto World! Check out who's…

10 hours ago