KPMG adds bitcoin, ether to corporate treasury for the first time

KPMG, one of the Big Four accounting firms, in Canada allocated bitcoin (BTC-USD) and ethereum (ETH-USD) to its corporate treasury, marking its first investment in cryptos. It acquired BTC and ETH on its balance sheet through digital asset exchange Gemini's execution and custody services. Additionally, KPMG added carbon offsets to maintain a net-zero carbon transaction to deliver on its environmental, social and governance ("ESG") commitments. The firm established a governance committee to provide oversight and approve the treasury allocation. "Cryptoassets are a maturing asset class," says Benjie Thomas, Canadian Managing Partner, Advisory Services, KPMG in Canada. "This investment reflects our belief that institutional adoption of cryptoassets and blockchain technology will continue to grow and become a regular part of the asset mix," he added. Meanwhile, bitcoin (BTC-USD +5.0%) surges to $43.7K per token and ether (ETH-USD +4.2%) jumps to $3.1K. Earlier, Tesla said it held nearly $2B worth of bitcoin on its balance