Industry source: Coinbase may violate FASB accounting standards due to "customized accounting metrics"
2024-06-25 02:47:07
On June 25, industry experts said that Coinbase could face regulatory challenges in complying with new U.S. Financial Accounting Standards Board (FASB) accounting standards. It is reported that the standard changes the accounting and disclosure of cryptocurrencies from a low-cost impairment model to a fair value model.
The rules were agreed by the FASB in 2023 and will go into effect in 2025. However, companies are allowed to adopt the standards early, and some, including Coinbase, already follow them.
The new standard aims to provide more accurate valuations of digital assets by capturing the latest value of digital assets rather than treating them as intangible assets, which has been standard practice.
The rules were agreed by the FASB in 2023 and will go into effect in 2025. However, companies are allowed to adopt the standards early, and some, including Coinbase, already follow them.
The new standard aims to provide more accurate valuations of digital assets by capturing the latest value of digital assets rather than treating them as intangible assets, which has been standard practice.
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14:36 2025-04-24
TON Foundation Appoints MoonPay Maximilian Crown as CEOThe TON Foundation has announced the appointment of Maximilian Crown, co-founder of crypto payment infrastructure MoonPay, as its new CEO. Crown, who previously served as MoonPay's chief financial officer and chief operating officer, has extensive contacts in the banking industry, payment companies and regulators, and will retain his seat on the MoonPay board.
14:18 2025-04-24
Cumberland has transferred 2,261 BTC to Coinbase.According to The Data Nerd, 2 hours ago, Cumberland deposited 2,088 BTC (~ $193.36 million) to Coinbase. 20 minutes ago, Cumberland deposited 173 BTC (~ $16.05 million) to Coinbase again.
14:06 2025-04-24
BTC breaks through $93,000The market shows that BTC has broken through $93,000 and is now quoted at $93,022.69, with a 24-hour decline of 0.08%. The market is volatile, so please do a good job in risk control.
14:02 2025-04-24
SEC Crypto Working Group Meets with Ondo Finance to Discuss Compliance with Issuance of Tokenized SecuritiesThe Securities Exchange Commission released a memo stating that Ondo Finance and representatives from Davis Polk & Wardwell LLP met with the Securities Exchange Commission (SEC) Crypto Working Group to discuss a compliance path for the issuance and sale of tokenized U.S. securities.
Topics include structural models for tokenized securities, registration and broker requirements, market structure regulations, financial crime compliance, and state corporate law. Ondo Finance proposes to seek regula...
14:02 2025-04-24
Zhao Changpeng: Bloomberg once again issued a fictional attack without evidenceZhao Changpeng posted on the X platform that Bloomberg published the article again, but instead of writing about the problem with evidence, they chose a person and then wrote a fictional attack without evidence.
Zhao Changpeng also said he had heard that Bloomberg might soon abolish its entire investigative journalism division because of their low ethical standards.
13:59 2025-04-24
The SEC will hold a cryptocurrency roundtable on April 26 at 1 amOn April 24, the SEC said that the Crypto Roundtable will be held from 1 am to 5 am Beijing time on April 26.
Previously reported, on April 17, the Securities Exchange Commission released details of its third cryptocurrency policy roundtable, which will focus on custody issues, with two panels - one on broker-dealers and wallet custody, and another on investment advisors and investment firm custody.
13:53 2025-04-24
Circle has cast 13 billion USDC on the Solana chain in 2025According to Onchain Lens, Circle has minted another 250 million USDCs on the Solana network. So far, Circle has minted 13 billion USDCs on the Solana network in 2025.
13:44 2025-04-24
U.S. crypto concept stocks rose at the beginning of the sessionOn April 24th, the US stock market opened, and crypto-concept stocks in the US generally rose.
Robinhood Markets (HOOD) rose 3.47% to $46.21
Hut 8 Mining Corp Cedear (HUTC) rose 3.33% to $62.00
Coinbase Global (COIN) rose 1.73% to $198.17
Hut 8 Corp (HUT) rose 0.77% to $12.36
Strategy (MSTR) rose 0.45% to $347.29
MARA Holdings Inc (MARA) fell 0.88% to $14.01
13:35 2025-04-24
CME Group to Launch XRP FuturesCME Group, a derivatives marketplace, today announced plans to launch Ripple (XRP) futures on May 19, pending regulatory review. Market participants will have the option to trade either micro contracts (2,500XRP) or large contracts (50,000 XRP).
13:32 2025-04-24
Fantom Foundation retrieves 11.074 million CRVs from Curve and transfers them to BinanceAccording to on-chain analyst Ember, the Fantom Foundation retrieved 11.074 million CRVs (about $7.64 million) from Curve 10 minutes ago and transferred them to Binance.
13:32 2025-04-24
The three major U.S. stock indexes were mixedU.S. stocks opened with the Dow down 100 points, the S & P 500 up 0.09% and the Nasdaq up 0.25%.
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