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11,196 Years Jail Sentence for Faruk Özer, CEO of Collapsed Turkish Crypto Exchange Thodex
Thodex was one of Turkey’s largest crypto exchanges before it suddenly went offline in April 2021 and Özer went missing. Faruk Fatih Özer, the founder of the collapsed Turkish crypto exchange Thodex, his sister Serap Özer and his brother Güven Özer have been sentenced to 11,196 years, 10 months and 15 days in prison, according to local…
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Bitcoin price can hit $46K by 2024 halving
Bitcoin has the fuel to claw back some lost ground by the end of the year, but hodlers should be prepared for BTC price local lows first, says the DecenTrader co-founder. Bitcoin BTC $25,879 has a chance to end 2023 at $35,000 despite heading lower in between, veteran analyst Filbfilb believes. In his latest interview with…
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Texas paid bitcoin miner Riot $31.7 million to shut down during heat wave in August
KEY POINTS During the crypto boom of 2021, Riot Platforms was raking in cash from bitcoin mining. Now the company is losing so much money that it’s counting on energy credits from selling power back to the Texas grid to keep its costs under control. Riot said on Wednesday that it earned $31.7 million in energy credits last month…
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There are just six bitcoin billionaires in the world, new crypto super-rich report says
Hundreds of millions of people have crypto investments. A new report shows how many crypto millionaires and billionaires exist. Hundreds of millions of people around the world have some form of crypto holdings, whether that is in bitcoin or one of the many other digital currencies. To be exact, 425 million people use crypto, according to Henley…
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How to handle crypto trading gains and losses on your balance sheet
Cryptocurrency taxation and reporting transactions on your balance sheet differ. Here’s how to treat cryptocurrency on your balance sheet. Currently, no accounting standards are dedicated to crypto assets, so broader guidelines per the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Practice (GAAP) are applied to cryptocurrency accounting. Balance sheets are among the three primary…