Deloitte, one of the Big 4 Accounting Firms is entering the crypto scene.
2 min read
If you are not aware of Deloitte and what they do, they are one of the Big 4 Accounting Firms in the world with nearly 90% of Fortune 500 companies being audited by them. Earlier today, there was a press conference by Deloitte that announced that they were partnering up with Chainalysis, an American blockchain consulting firm to allow higher crypto compliance to the customers they serve. In their press conference announcing this partnership, they stated:
Chainalysis told Blockworks the partnership has been in the works for “several years” and will “serve US public sector customers and financial institutions.”
Mutual clients of the two companies can now use Chainalysis’ blockchain dataset, analytics software, and training program, while also taking advantage of Deloitte’s services to manage forensic, investigative and compliance programs, according to the press release.
News caption for Deloitte’s partnership with Chainanalysis
Why do I think this piece of news is important? As I mentioned, Deloitte currently serves nearly 90% of Fortune 500 companies. The fact that they are currently beefing up their due process in providing compliant blockchain services signals potential demands from their clients. It is only a matter of time before companies start adopting blockchain tech, making it necessary for other companies to follow suit or be left behind. On top of this news, Deloitte was also reported in April 2023 to be hiring for 331 new roles relating to crypto jobs, as opposed to 0 from the other 3 big accounting firms.
Crypto job listings by Deloitte.
These are some of Deloitte’s largest clients:
Microsoft Berkshire Hathaway Morgan Stanley The Blackstone Group (world’s largest equity firm) and.. BlackRock (yes, the one applying for the BTC ETF)
The last one on the above list kind of sets the stage on why I am pretty confident the BTC spot ETFs will be approved. So hopefully, you have learned something from this post today and I’ll see you in the next one!
TLDR; Deloitte’s partnership with Chainalysis is a proxy for buildup of institutional interest. Deloitte serves nearly 90% of Fortune 500 companies, including BlackRock.
submitted by /u/Qptimised
[link] [comments]
