The Rise and Fall of FTX - What Happened?
Monday, June 12, 2023
Webcast or Webinar, Online
4:30 PM - 6:00 PM (opens at 4:00 PM) EST
1.5Credits
Technical Business
Registration is Closed
Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.
Members
$69.00 Regular Price
Non-Members
$92.00 Regular Price
Course Type: Webcast
Course Code: 23/CX39451
Level: Overview
Vendor: CPA Crossings, LLC
Field of Study: Specialized Knowledge
Overview:
The past decade has seen the explosive growth in the cryptocurrency market and the exchange entities that have evolved to facilitate trading in cryptocurrencies. The sudden collapse of the FTX cryptocurrency exchange, as a result of alleged fraudulent activity at the highest levels in history, has exposed the impact of the lack of regulatory compliance in this evolving marketplace. This scenario has created an unprecedented opportunity and responsibility for the CPA profession to educate the public on this "buyer beware" world of digital assets. This presentation will help you understand the underpinnings of the collapse of the FTX exchange.Objectives:
After attending this presentation, you will be able to…
- Recognize the fundamentals of how the cryptocurrency marketplace functions
- Identify the fraudulent activities that led to the collapse of FTX
- Identify the internal controls and accounting standards that are lacking in the cryptocurrency industry
Major Topics:
The major topics covered in this course include:
- Fundamentals of cryptocurrency technology
- How cryptocurrency exchanges work
- De-Fi (Decentralized Finance) - what does it mean
- Bitcoin versus alt coins
- The FTX rise and fall timeline
- Fundamental issues with the FTX business model that caused its collapse
- Internal controls issues with cryptocurrency companies
- Lack of standardized accounting rules in the cryptocurrency industry
- Red flags in the FTX audit reports
Major Topics:
The major topics covered in this course include:
- Fundamentals of cryptocurrency technology
- How cryptocurrency exchanges work
- De-Fi (Decentralized Finance) - what does it mean
- Bitcoin versus alt coins
- The FTX rise and fall timeline
- Fundamental issues with the FTX business model that caused its collapse
- Internal controls issues with cryptocurrency companies
- Lack of standardized accounting rules in the cryptocurrency industry
- Red flags in the FTX audit reports