Fair Valuations for Digital Assets
The Fair Accounting Standards Board (FASB) have expressed support for digital assets, such as Bitcoin and Ethereum, to be included under the scope of fair value principles when calculating their worth on company balance sheets. This welcome change would allow companies to record profit and losses immediately, the same way traditional financial assets are treated. “Fair market value” refers to the valuation of assets based on their worth in the current market.
Code is Law — For now?
At around 10pm UTC on 11/10, Mango Markets experienced a large-scale exploit that drained the protocol of over $116m — almost all of its liquidity.
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