7,800 jobs at IBM could be replaced by AI within years, suggests CEO
Arvind Krishna, the chief executive of IBM, said roughly 30% of their non-customer-facing positions could be covered by artificial intelligence over a five-year period.This post was originally published on this site
FTX Finds $7.3 Billion in Liquid Assets; Lawyers Consider Rebooting Shuttered Crypto Exchange
FTX debtors revealed during a hearing on April 12th that the restructuring team has collected $7.3 billion in liquid assets. The exchange is currently considering a relaunch, according to a lawyer representing the defunct cryptocurrency exchange. Following the announcement, the exchange’s token, FTT, increased by over 70%, rising from $1.30 to $2.35 per unit. Lawyers […]
Lawyers picnic: FTX counsel and advisors rake in $34M in January
Millions have been invoiced from a host of law firms, investment bankers, consultants and financial advisers in FTX’s bankruptcy case.This post was originally published on this site
U.S. lawmakers argue SEC accounting policy places crypto customers at risk
While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators.This post was originally published on this site
Marathon Digital bungles crypto impairment sums, will reissue financials
The Bitcoin miner received a letter from the SEC on Feb. 22 which highlighted accounting mistakes it made on multiple financial disclosures.This post was originally published on this site
NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry
On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer funds should be segregated with separate accounting. FTX Collapse Prompts NYDFS to Issue […]
Leading Crypto Tax and Accounting Provider Ledgible Unveils New Design
PRESS RELEASE. Ledgible, the leading digital asset tax and accounting solution for institutions, professionals, and investors unveils a newly revamped website and interface. Users can now quickly explore the company’s various digital asset solutions, connect with support, register and so much more all in one streamlined ecosystem. The announcement comes just in time for the […]
USDC transfer volume hit 5X USDT’s in fallout from FTX collapse
Although it has a much smaller market cap, on-chain data shows that USDC has a much greater transfer volume than its main competitor USDT.This post was originally published on this site
Despite endless media appearances, SBF unlikely to testify on 13th
One observer suggested Bankman-Fried may be reluctant to discuss FTX due to the legal implication of lying under oath to the U.S. Congress.This post was originally published on this site
Celsius had ‘insufficient’ accounting and operational controls, says examiner
The examiner revealed that Celsius’ digital assets in its customer’s Custody wallets account officially became underfunded on Jun. 11.This post was originally published on this site