#accounting

Hindenburg Research, an investment research firm, accused AI server producer Super Micro Computer of breaching accounting rules and other regulatory standards. Additionally, Hindenburg disclosed a short position in Super Micro.

The U.S. Financial Accounting Standards Board (FASB) is set to revise accounting standards, allowing companies to assess cryptocurrency holdings based on fair value.

With $549 billion, September recorded the lowest trading volume of the year for Bitcoin futures. The list of leaders comprises: Binance with $247 billion in trades OKX with $95 billion ByBit accounting for $75 billion Bitget recording $68 billion On another note, DEX platforms also set an annual low with a trading volume of $32 billion.With $549 billion, September recorded the lowest trading volume of the year for Bitcoin futures.The list of leaders comprises: Binance with $247 billion in trades OKX with $95 billion ByBit accounting for $75 billion Bitget recording $68 billion On another note, DEX platforms also set an annual low with a trading volume of $32 billion.

Singapore witnessed one of its largest crackdowns on money laundering last month. 400 police officers coordinated raids throughout the city-state, detaining 10 foreigners. These individuals allegedly were "laundering the proceeds of their overseas organised crime activities, including scams and online gambling". The seizures were significant, totaling $1.76 billion, with cryptocurrencies accounting for nearly $30 million. The operation also led to the confiscation of 68 gold ingots, 110 real estate holdings, and 62 cars. Sketches released provide a look at those under suspicion.

The NFTFi market is witnessing a significant revival, with the Blur Blend NFT collateralized lending platform playing a crucial role. Following its launch, the total value of loans on the network has surpassed $67 million, reaching a six-month record, according to data from Dune Analytics. Currently, Blur Blend dominates the NFTFi market, accounting for a staggering 75% of the total volume of all loans in the sector. This resurgence has prompted renewed interest in the potential of NFT-backed lending and its applications within the broader blockchain and crypto ecosystem. To learn more about the NFTFi space and how it could become a new trend in 2023, read the full article on the website.

Tether, the issuer of stablecoins, has minted 4 billion USDT in the last 30 days, accounting for nearly 18% of all USDT issued in 2023.

The former MT. Gox CEO shared a remarkable story. After his 2015 arrest, he faced a daunting task: sifting through 20,000 pages of evidence using just a basic accounting calculator he bought for $120 from the prison commissary. "I'd spend the next couple of months going through the accounting information provided by the prosecution, and managed to find some 5.5 million USD worth of revenue that wasn't accounted for. Suddenly, the argument raised by the prosecution didn't make sense," commented Mark Karpeles. This simple calculator changed the game. After nearly a year in custody, he was granted bail and, two years later, fully cleared of charges.

Markus Thielen, Head of Research at Matrixport, believes that the SEC is not targeting stablecoins. The charge against Paxos is indirect. The regulators are planning an attack on Binance, which stored customer funds in the same wallet with its collateral for some in-house tokens. The regulations require that exchanges' corporate assets must be recorded in separate accounts and cannot form part of the proof-of-reserves calculations. That's simple: Binance cannot confirm its BUSD reserves. Paxos Trust Company, which is the only issuer of the exchange's stablecoin, serves as a witness in this case, not a defendant. Has CZ fallen into curly-haired Sam’s trap by mixing up customers' wallets with his own? We find it hard to believe. Hopefully, his accounting skills are way better.