Private equity firm Bridgepoint said it acquired a majority stake in ht.digital, a crypto attestation and audit firm, previously a subsidiary of Harris & Trotter accountants. The company has experienced 100% annual growth in the past two years. In the year to 30 April 2025 it earned revenues of almost £12 million ($16m) and £3.1 million ($4.1m) in after tax profit. ht.digital’s 700 clients include several high profile ones such as Gnosis Pay, Northern Data, Outlier Ventures and the TON App. But it also provides audit and attestation services for some edgier entities, as explored below.
Following the collapse of FTX in 2022, many crypto exchanges sought out large accounting firms to attest to their assets under custody. The FTX collapse raised alarms within accounting firms about the potential for reputational damage. This triggered the withdrawal of several major accounting firms from the space. Armanino stood by its audit report on FTX.US (not the international arm accused of fraud). According to the Financial Times, Armanino claimed it was not required to review internal controls, a surprising statement from an auditor of a company that looks after client funds.
With these withdrawals from the sector, smaller companies like ht.digital stepped in to provide both automated attestations as well as formal audits. Capitalizing on this opportunity, ht.digital has grown from the UK into Europe, and plans to use the Bridgepoint funds for further international expansion.
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