accounting – DIGIT INFO

MicroStrategy Q1 net loss hits $53.1M but Bitcoin buying spree continues

DIGIT — Mon, 29 Apr 2024 23:52:24 +0000

MicroStrategy has yet to adopt the new accounting standard that would have taken the billions of dollars in paper gains from Bitcoin’s 65% price rally into account.

Go to Source

FASB rules ‘eliminate the poor optics’ that shied firms from crypto: Analyst

DIGIT — Thu, 07 Sep 2023 04:53:05 +0000

“The change should help MicroStrategy and other companies that hold digital assets to eliminate the poor optics that have been created by impairment losses,” said analysts from Berenberg Capital.

Go to Source

7,800 jobs at IBM could be replaced by AI within years, suggests CEO

DIGIT — Tue, 02 May 2023 05:01:20 +0000

Arvind Krishna, the chief executive of IBM, said roughly 30% of their non-customer-facing positions could be covered by artificial intelligence over a five-year period.

Go to Source

FTX Finds $7.3 Billion in Liquid Assets; Lawyers Consider Rebooting Shuttered Crypto Exchange

DIGIT — Thu, 13 Apr 2023 17:30:01 +0000

FTX debtors revealed during a hearing on April 12th that the restructuring team has collected $7.3 billion in liquid assets. The exchange is currently considering a relaunch, according to a lawyer representing the defunct cryptocurrency exchange. Following the announcement, the exchange’s token, FTT, increased by over 70%, rising from $1.30 to $2.35 per unit. Lawyers […]

Go to Source

Lawyers picnic: FTX counsel and advisors rake in $34M in January

DIGIT — Wed, 08 Mar 2023 05:03:02 +0000

Millions have been invoiced from a host of law firms, investment bankers, consultants and financial advisers in FTX’s bankruptcy case.

Go to Source

US lawmakers argue SEC accounting policy places crypto customers at risk

DIGIT — Fri, 03 Mar 2023 05:56:35 +0000

While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators.

Go to Source

Marathon Digital bungles crypto impairment sums, will reissue financials

DIGIT — Wed, 01 Mar 2023 01:13:55 +0000

The Bitcoin miner received a letter from the SEC on Feb. 22 which highlighted accounting mistakes it made on multiple financial disclosures.

Go to Source

NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry

DIGIT — Mon, 23 Jan 2023 20:00:57 +0000

On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer funds should be segregated with separate accounting. FTX Collapse Prompts NYDFS to Issue […]

Go to Source

Leading Crypto Tax and Accounting Provider Ledgible Unveils New Design

DIGIT — Mon, 16 Jan 2023 18:00:07 +0000

PRESS RELEASE. Ledgible, the leading digital asset tax and accounting solution for institutions, professionals, and investors unveils a newly revamped website and interface. Users can now quickly explore the company’s various digital asset solutions, connect with support, register and so much more all in one streamlined ecosystem. The announcement comes just in time for the […]

Go to Source

USDC transfer volume hit 5X USDT’s in fallout from FTX collapse

DIGIT — Wed, 11 Jan 2023 06:34:47 +0000

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.

Go to Source