Investors bemoan the lack of disclosure in the crypto industry. But many crypto companies disclose a lot of information, and some of it is worrisome, a review of financial statements shows.
The blowups of FTX and Celsius Network LLC exposed hidden risks that might have raised red flags for investors, including , commingled customer funds, sketchy record-keeping and questionable accounting. Some of these problems often appear in disclosures by public crypto companies, including weak systems used to keep numbers accurate.
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Exciting to see our analysis in the WSJ. Crypto is hard to account for. More analysis on internal control issues etc on our blog -
The problem. Is making bad investments.
Adequate disclosure is also a problem with almost all 501c3 non-profit organizations. None give sufficient details for contributors to make informed decision on whether to support.
It’s a Ponzi scheme duh
Do you need a professional trading account manager to trade for you, contacts
The Bitcoin protocol has no financials to show ( look it up yourself ) and therefore no red flags to conceal You’re picking the wrong “crypto” bros
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