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accounting

Commissioner Christy Goldsmith Romero of the U.S. Commodity Futures Trading Commission

Crypto Lawyers Share Blame for FTX, Other Disasters, CFTC Commissioner Says

Gatekeepers such as lawyers, accountants and investment firms should have insisted the crypto industry handle itself in a safer fashion, Commissioner Goldsmith Romero argued.

By Jesse Hamilton

Jan 18, 2023 at 9:00 p.m. UTC

Jan 18, 2023

regulationsFTXFTX collapseCrypto WinterLegalAccountingCFTC

CDCROP: Former FTX CEO Sam-Bankman-Fried (Danny Nelson/CoinDesk)

'A Complete Failure of Corporate Controls': What Investors and Accountants Missed in FTX’s Audits

An expert review of FTX’s audited financial statements reveals a series of red flag related-party transactions that should have led to more scrutiny of the company’s operations.

By Francine McKenna

Nov 18, 2022 at 2:12 p.m. UTC

Nov 18, 2022

FTXAccountingOpinionSam Bankman-FriedAuditing

CDCROP: FTX Trading LLC auditor Prager Metis hosted a metaverse office launch party at Dencentraland coordinates (19, 144) in October. (Prager Metis)

Meet the Metaverse Nightclub–Loving Audit Firm That Presided Over FTX’s Financials

FTX auditor Prager Metis reported the company earned $1 billion in revenue in 2021. An investigation by CoinDesk reveals Prager Metis also operates in Decentraland, where it sponsors the “Decentraland Babydolls.”

By Tracy Wang

Nov 11, 2022 at 8:36 p.m. UTC

Nov 11, 2022

FTXDecentralandAccountingMetaverse

Policy

Fasb

US Accounting Standards Board Member Supports Reporting Crypto Swings as Income: Bloomberg

If adopted, the move would mean cryptocurrency gains and losses would directly impact companies’ earnings.

By Nelson Wang

Nov 3, 2022 at 6:53 p.m. UTC

Nov 3, 2022

FASBAccounting

Business

Accounting

FASB Mulls Fair-Value Accounting for Crypto Holdings: Report

Fair-value accounting for crypto will encourage companies to put bitcoin on their balance sheet, according to Michael Saylor.

By Oliver Knight

Oct 13, 2022 at 9:48 a.m. UTC

Oct 13, 2022

AccountingMicroStrategyFASB

Business

Funding rounds

Real-Time Accounting Platform Integral Raises $8.5M in First Round of Funding

Investors included some notable names from the crypto industry, such as figures from Coinbase, Anchorage and Dapper Labs.

By Margaux Nijkerk

Sep 20, 2022 at 6:41 p.m. UTC

Sep 20, 2022

Funding RoundsWeb3Accounting

U.S. Securities and Exchange Commission in Washington, D.C.

Policy

Regulations

SEC's Crypto Guidance Pushes US Banks to Rethink Custody Projects: Report

The regulator suggests that customers' crypto assets should be treated as liabilities by lenders, which could be "prohibitively costly" for banks.

By Sandali Handagama

Sep 16, 2022 at 10:45 a.m. UTC

Sep 16, 2022

regulationsSECCustody ServicesU.S.Accounting

Policy

Accounting

FASB Crypto Accounting Review Won’t Include NFTs, Certain Stablecoins: Report

The accounting standards body outlined its criteria for crypto assets that would be covered by a forthcoming rule regarding companies and their digital assets.

By Nelson Wang

Aug 31, 2022 at 8:54 p.m. UTC

Aug 31, 2022

AccountingPolicyNFTsStablecoinsUS