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Accounting

Senator Elizabeth Warren (Leigh Vogel/Getty Images)
Policy
Regulations
U.S. Senate’s Warren Calls for Crackdown on ‘Sham’ Crypto Audits
The senator and her Democratic colleague Ron Wyden asked the U.S. auditing watchdog to rein in bogus audits in the digital assets sector.
Senator Elizabeth Warren (Leigh Vogel/Getty Images)
By Jesse Hamilton
Mar 21, 2023 at 9:45 p.m. UTC
Mar 21, 2023
RegulationsAuditingU.S.AuditsAccountingElizabeth WarrenRon Wyden
(Krisanapong Detraphiphat/Getty Images)
Policy
Regulations
Crypto Sector’s Reserve Reports Can’t Be Trusted, Says U.S. Audit Watchdog
Proof-of-reserve reviews aren’t audits, says the Public Company Accounting Oversight Board, and investors shouldn’t count on them.
(Krisanapong Detraphiphat/Getty Images)
By Jesse Hamilton
Mar 8, 2023 at 11:25 p.m. UTC
Mar 8, 2023
RegulationsAuditingProof-of-ReservesAccountingU.S.
(Unsplash, modified by CoinDesk)
Technology
Accounting
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 attesta...
(Unsplash, modified by CoinDesk)
By Bradley Keoun
Mar 1, 2023 at 1:53 p.m. UTC
Mar 1, 2023
AccountingExclusive FTXFTX CollapseKrakenCoinSharesTrueUSD
Commissioner Christy Goldsmith Romero of the U.S. Commodity Futures Trading Commission (Jesse Hamilton/CoinDesk)
Policy
Regulations
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....
Commissioner Christy Goldsmith Romero of the U.S. Commodity Futures Trading Commission (Jesse Hamilton/CoinDesk)
By Jesse Hamilton
Jan 18, 2023 at 9:00 p.m. UTC
Jan 18, 2023
RegulationsFTXFTX CollapseCrypto WinterLegalAccountingCFTC
Former FTX Sam-Bankman-Fried (Danny Nelson/CoinDesk)
Layer 2
Ftx
'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 operation...
Former FTX Sam-Bankman-Fried (Danny Nelson/CoinDesk)
By Francine McKenna
Nov 18, 2022 at 2:12 p.m. UTC
Nov 18, 2022
FTXAccountingOpinionSam Bankman-FriedAuditing
FTX Trading LLC auditor Prager Metis hosted a metaverse office launch party at Dencentraland coordinates (19, 144) in October. (Prager Metis)
Finance
Ftx
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 s...
FTX Trading LLC auditor Prager Metis hosted a metaverse office launch party at Dencentraland coordinates (19, 144) in October. (Prager Metis)
By Tracy Wang
Nov 11, 2022 at 8:36 p.m. UTC
Nov 11, 2022
FTXDecentralandAccountingMetaverse
FASB is considering new rules to account for swings in the value of cryptocurrency holdings. (Getty Images)
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.
FASB is considering new rules to account for swings in the value of cryptocurrency holdings. (Getty Images)
By Nelson Wang
Nov 3, 2022 at 6:53 p.m. UTC
Nov 3, 2022
FASBAccounting
FASB considers changing crypto rules (Shutterstock)
Finance
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.
FASB considers changing crypto rules (Shutterstock)
By Oliver Knight
Oct 13, 2022 at 9:48 a.m. UTC
Oct 13, 2022
AccountingMicroStrategyFASB
Accounting platform Integral has raised $8.5 million in its first round of funding. (Shutterstock)
Finance
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.
Accounting platform Integral has raised $8.5 million in its first round of funding. (Shutterstock)
By Margaux Nijkerk
Sep 20, 2022 at 6:41 p.m. UTC
Sep 20, 2022
Funding RoundsWeb3Accounting
(Jesse Hamilton/CoinDesk)
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.
(Jesse Hamilton/CoinDesk)
By Sandali Handagama
Sep 16, 2022 at 10:45 a.m. UTC
Sep 16, 2022
RegulationsSECCustody ServicesU.S.Accounting