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The existing approach, accounting for crypto as so-called indefinite-lived intangible assets, only focuses on the assets dropping in value. According to the board’s proposal, it “does not reflect the underlying economics of those assets and does not provide decision-useful information.” Original Source
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IBF, WBO and WBA heavyweight boxing champion Oleksandr Usyk has put his weight behind a blockchain platform that aims to tokenize and support the boxing industry.The Olympic gold medalist has teamed up with Ukrainian-based cryptocurrency exchange Qmall to develop the Ready to Fight platform. The browser-based platform makes use of
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Bankrupt crypto exchange FTX is seeking to recover $460 million of allegedly misappropriated customer funds from venture capital (VC) firm Modulo Capital, which received a sizeable investment from Alameda Research last year.As previously reported, FTX’s sister trading firm, Alameda Research was understood to have invested around $400 million in Modulo
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“Having first invested in Luno’s seed round in 2014 followed by an acquisition in 2020, we want to thank Marcus for his dynamic leadership and enduring enthusiasm for the global crypto landscape as he transformed Luno into a digital asset powerhouse,” DCG founder and CEO Barry Silbert was quoted as
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The U.S. Internal Revenue Service is considering whether to tax non-fungible tokens (NFTs) on a par with other collectibles such as stamps, works of art and fine wine, in a move likely to have an impact on those including the digital assets within their retirement plan, according to a document
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Zk layer 1 blockchain Manta Network announced on March 20 that it has added support for assets including Non-Fungible Tokens (NFTs) and Soul Bound Token (SBTs) to its protocol. The MantaPay protocol, which initially supported only fungible crypto assets, promises to now allow for privacy-preservation support for NFTs and SBTs through the
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In addition to seeking the grace period from Nasdaq, Astra also mentioned a possessive reverse stock split. Rocket launch startup Astra Space (NASDAQ: ASTR) has drawn a plan to avoid a delisting from the Nasdaq. The stock trading platform gave the small rocket builder a deadline to exceed a share price level of
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The United States-based crypto advocacy group Blockchain Association called on financial regulators to provide information related to the potential “de-banking of crypto firms” in the wake of the failures of banks including Signature, Silicon Valley Bank, and Silvergate.In a March 16 notice, the Blockchain Association said it had submitted Freedom
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Circle CEO Jeremy Allaire to save crypto following the collapse of some major mainstream banks, including Silicon Valley Bank. Circle CEO Jeremy Allaire recently disclosed that the USDC stablecoin issuer wants to save crypto from fallen banks. In an interview, Allaire touched on the adjustments the peer-to-peer payments technology company made following Silicon Valley
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The Biden administration seeks to terminate the tax-loss harvesting strategy for crypto investors which would help the White House save $31 billion over a ten year period. On Thursday, March 9, the Biden administration proposed some important changes to crypto tax treatment in the federal budget. This could be a
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