accounting

Tesla CEO Elon Musk
U.S. Accounting Board Seeks Crypto Standards Requiring Firms to Report Price Shifts
The first U.S. rule for crypto accounting would aim at giving investors a better sense of a company’s digital assets through a “fair-value” approach.
Tesla CEO Elon Musk

U.S. Senator Elizabeth Warren (D-Mass.)
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.
U.S. Senator Elizabeth Warren (D-Mass.)

Proof of reserves
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.
Proof of reserves

Crypto accountant
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.
Crypto accountant

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

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

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

Old fashioned ledger (Getty)
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.
Old fashioned ledger (Getty)

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.
accounting

accounting
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