Circle Hires Deloitte as New Audit Firm for Proof of Reserves

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Today’s Cryptocurrency Headline

Circle said it would work with the accounting firm Deloitte to audit its proof of reserves. Circle has been working with Grant Thornton for audits for many years, but due to multiple accounting firms expressing concern over working with crypto companies, Circle made a switch. Circle CEO Jeremy Allaire said that Circle is ready for regulation and will now pay close attention to the regulatory guidance of the US Congress on stablecoins.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is up 0.77% over the last 24 hours and rose to an intraday high of $21,611.11. The largest cryptocurrency broke above the strong resistance at $21,486, but bulls were unable to extend the upward trend further, suggesting sellers remain active. The relative strength index remains the overbought territory, Indicating a possible consolidation or correction in the near future. Considering Bitcoin faces significant resistance at $21,500, a minor pullback to $20,000 is likely to happen, and then it could challenge the $25,000 price level.

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