Millions have been invoiced from a host of law firms, investment bankers, consultants and financial advisers in FTX’s bankruptcy case.
US lawmakers argue SEC accounting policy places crypto customers at risk
While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators.
Former Accounting Team of FTX US Auditor Armanino Sets Up Shop as The Network Firm
The episode highlights yet another chokepoint for the blockchain industry: It’s become harder for crypto startups to enlist big accounting firms to do audits and asset attestations.
Marathon Digital bungles crypto impairment sums, will reissue financials
The Bitcoin miner received a letter from the SEC on Feb. 22 which highlighted accounting mistakes it made on multiple financial disclosures.
USDC transfer volume hit 5X USDT’s in fallout from FTX collapse
Although it has a much smaller market cap, on-chain data shows that USDC has a much greater transfer volume compared to its main competitor USDT.
Despite endless media appearances, SBF unlikely to testify on 13th
One observer suggested Bankman-Fried may be reluctant to discuss FTX due to the legal implication of lying under oath to the U.S. Congress.
Celsius had ‘insufficient’ accounting and operational controls, says examiner
The examiner revealed that Celsius’ digital assets in its customer’s Custody wallets account officially became underfunded on Jun. 11.
Russia’s Central Bank report examines crypto’s place in the financial system
Russia’s Central Bank has released a report on digital assets which looks at how the technology could be integrated into its traditional financial system.
Crypto notches a win among professional accountants
The Financial Accounting Standards Board made a change in October to help public companies that hold cryptocurrencies on their balance sheets.
Portfolio in the red? How tax-loss harvesting can help stem the pain
“If you’ve made a sale during the tax year, and you’ve sold at a loss, there’s basically a benefit there,” says Koinly’s head of tax.
From Enron to Wirecard: How Blockchain Tech Could Have Helped
If blockchain technology is used within a regulated financial system, Wirecard-esque scandals can be a thing of the past, writes BRD CEO Adam Traidman.
Crypto Card Issuer Wirecard Says It’s Missing $2.1B in ‘German Enron’ Scandal
Wirecard admitted the accounting hole was roughly a quarter of the company’s total balance sheet.
EY Launches Blockchain Tool to Help Bring Accountability to Public Finances
The accounting giant is using blockchain tech to assist governments in improving transparency and accountability in the management of public funds.
Crypto Firms Merge to Build Software for Institutional Investors
In a bid to provide services for institutional investors, investor tools provider Picks & Shovels is merging with crypto accounting startup CoinVantage.
Stablecoin Issuer Promises Full Audits of Euro-Backed Crypto Token
The engagement of BDO Malta aims to dispel any doubts that EURS stablecoins are backed one-to-one by euros.
Digital Assets Don’t Change Reporting Needs, SEC’s Top Accountant Says
The arrival of cryptos doesn’t alter the need to maintain proper accounting records, the SEC’s Wesley Bricker said Monday.
Tether Review Claims Crypto Asset Fully Backed – But There’s a Catch
Tether has finally produced a third-party report proclaiming that its cryptocurrency, USDT, is fully backed by U.S. dollars – with some big caveats.