Case Study

Stablecoin Issuer Investigation

Review of Billions of Dollars’ Worth of Fiat-Backed Stablecoins

On behalf of a major stablecoin issuer and in connection with multiple US state regulatory agency investigations, BRG experts conducted an independent, multiyear review of billions of dollars’ worth of fiat currency backing for stablecoin tokens. The investigation involved a parallel accounting of token issuance over time. Counsel used BRG’s investigative report to respond to regulators’ inquiries.