Change to US accounting rules will be a boon to companies holding crypto in 2025

[ad_1] The Financial Accounting Standards Board (FASB) has unanimously approved rules for accounting for the fair value of companies’ cryptocurrency holdings, according to media reports. The rules will go into effect in 2025.The FASB is the United States organization that sets accounting and reporting standards for organizations that follow U.S. Generally Accepted Accounting Principles (GAAP). It issued a call for comments on proposed changes to the FASB Accounting Standards Codification

Following SEC delays, Ark Invest and 21Shares file for spot Ether ETF

[ad_1] Amid the United States Securities and Exchange Commission (SEC) delaying a decision on Ark Investment Management’s spot Bitcoin (BTC) exchange-traded fund, the firm has proposed an investment vehicle with exposure to Ether (ETH).In a Sept. 6 filing, Ark Invest and 21Shares requested the SEC approve the listing of shares of a spot ETH ETF on the Cboe BZX Exchange. The investment vehicle, called the ARK 21Shares Ethereum ETF, will

Genesis sues parent company DCG, other affiliate for $600M in overdue loans

[ad_1] Bankrupt cryptocurrency lender Genesis Global Capital (GGC) filed two suits on Sept. 6 seeking the repayment of overdue loans from affiliated companies. The loans are worth over $600 million in total. GGC filed the complaints against Digital Currency Group (DCG) and DCG International Investments (DCIG) in the Southern District of New York Bankruptcy Court. GGC and DCGI are both owned by DCG. According to the complaint against DCGI, GGC loaned

Enterprise blockchain, Bitcoin staking and Web3 pique investors’ interest

[ad_1] The sharp increase in global interest rates may have limited investors’ appetite for crypto ventures, but new projects are still flourishing and attracting capital to speed up growth. Data from the Cointelegraph Research Venture Capital Database shows June closed out with a 29.73% decrease in venture capital investments, with just $779.32 million secured in 62 deals, compared to June 2022. However, the overall trend for the year shows a

Grayscale Bitcoin Trust’s alleged wallet addresses released by Arkham

[ad_1] Blockchain analytics platform Arkham Intelligence claims to have identified the addresses of the Grayscale Bitcoin Trust. The trust consists of more than 1,750 addresses holding a total of over $16 billion worth of Bitcoin (BTC), according to a Sept. 6 thread on X (formerly Twitter). Arkham claimed that Grayscale is “the 2nd largest BTC entity globally.”Breaking: Arkham has identified the Grayscale Bitcoin Trust’s holdings on chain.It is the 2nd

Bitcoin short-term holders capitulate as data highlights potential generational buying opportunity

[ad_1] Bitcoin (BTC) price action suggests that the asset remains in a precarious position and a recent report from ARK Invest said that short-term Bitcoin investors had no choice but to capitulate in August as the percentage of Bitcoin supply in profit fell by 14 percentage points. Bitcoin market sentiment and monthly valuation change in August. Source: ARK InvestAlthough many traders view significant price dips as buying opportunities at this point

OpenAI and Microsoft accused of stealing data to train ChatGPT in new class action suit

[ad_1] OpenAI and Microsoft have been named as the defendants in yet another class action lawsuit over their alleged use of web scraping techniques to obtain supposedly private data for the use of training ChatGPT and other associated artificial intelligence models. The most recent class action suit was filed on Sep. 5 in San Francisco by a law firm representing a pair of unnamed engineers.According to a filing registered with the

Appellate judge denies Sam Bankman-Fried’s request for immediate release from jail

[ad_1] Former FTX CEO Sam Bankman-Fried, also known as SBF, lost an initial appeal to return to being free on bail prior to his criminal trial.In a Sept. 6 filing in the United States Court of Appeals for the Second Circuit, Clerk of Court Catherine O’Hagan Wolfe said a circuit judge had denied a motion from SBF’s legal team requesting his immediate release from the Metropolitan Detention Center in Brooklyn.

Riot Platforms says Texas energy strategy reduced production costs by $31M

[ad_1] Bitcoin miner Riot Platforms mined fewer Bitcoin in August than July but received over $31 million in power credits. That is the equivalent of around 1,136 Bitcoin (BTC), CEO Jason Les pointed out in a statement.Riot received an estimated $24.2 million in power curtailment credits under its contract with Texas grid operator Electric Reliability Council of Texas (ERCOT) and $7.4 million from ERCOT’s demand response program. Those monthly credits are

Ronaldo hints at NFT plans, and will the metaverse be a ‘tax haven?’: Nifty Newsletter

[ad_1] In this week’s newsletter, read about how German flagship airline Lufthansa uses nonfungible tokens (NFTs) to reward loyal customers and how soccer superstar Cristiano Ronaldo teased his future NFT plans during a lie detector test. Check out why a law professor believes the metaverse should be taxed, and find out how artificial intelligence (AI) and NFTs can provide a personalized learning experience to children. And don’t forget this week’s