"Audit" has a specific meaning in the legal and accounting worlds, especially with respect to financial institutions. Circle is not audited. It merely has Delo

"Audit" has a specific meaning in the legal and accounting worlds, especially with respect to financial institutions. Circle is not audited. It merely has Deloitte review its claims related to USDC reserves. Similarly, Coinbase is not audited. They merely have their cash reserves reviewed. Coinbase and Circle aren't audited because they would not survive an actual audit.