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Testifying on the sixth day of Sam “SBF” Bankman-Fried’s criminal trial in New York, former Alameda Research CEO Caroline Ellison admitted to providing fudged numbers for review by Genesis.According to reports from the courtroom on Oct. 11, Ellison claimed Bankman-Fried directed her to create “alternative” balance sheets on Alameda’s use
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The so-called quantitative tightening ended recently and the cumulative balance sheet of major central banks – the U.S. Federal Reserve (Fed), European Central Bank (ECB), Bank of England (BOE) and Bank of Japan (BOJ) – has troughed, according to data tracked by macroeconomic research firm TS Lombard and sourced from
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Three United States senators led by Elizabeth Warren have sent a letter to Binance CEO Changpeng “CZ” Zhao and Binance.US CEO Brian Shroder expressing concern over a number of facets of Binance’s activities and requesting information from the companies that includes their balance sheets. Crypto skeptic Warren’s cosigners were fellow Democrat
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The Bank for International Settlements is spearheading a project that will look into tech tools that could help regulators form policy frameworks for stablecoins based on data. Original Source
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Meanwhile, the proposition that bitcoin can serve as a better option than cash for corporate treasury purposes hasn’t been altered, but it also hasn’t come to fruition yet either, Luria said. And given the recent volatility in crypto prices, “the rate of adoption by corporates isn't going to be as
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During the 12 months, public companies, private companies, exchange-traded funds, and even countries have added bitcoin to their balance sheets. As of July 17, 2022, the aforementioned types of entities hold approximately 1,325,396 bitcoins worth $27.84 billion today. However, the number of coins stored in bitcoin treasuries has dropped since
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Through the comment process, FASB received a significant response of 522 comment letters. Of these 522 responses, 445 (85% of the respondents) commented solely and exclusively on accounting standards for digital assets, providing feedback on the pervasive impact of digital assets and the need to prioritize standards setting. More than
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As corporate finance leaders prepare to set sail into the post-COVID-19 world amid inflation storm warnings, an increasing number of corporations are taking stock of their treasury reserve holdings. If the worst happens, and the dollar and other reserve currencies weaken, are they sure that all their balance-sheet cash is
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Twitter may be pursuing adding Bitcoin to its balance sheet, to follow Square, which is also run by Jack Dorsey. The firm’s chief financial officer Ned Segal indicated in an interview with CNBC that the firm is considering BTC as an asset that it can add to its balance sheet. This
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