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Accounting Red Flags Are Common Among Public Crypto Companies

  • 📰 WSJ
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  • 2 min. at publisher
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  • News: 10%
  • Publisher: 63%

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One problem with crypto companies is they don’t disclose much. But the ones that do disclose often raise red flags.

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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ICYMI gnoble79 WallStCynic Mike_Taylor1972

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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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