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Author: Wei Xiang

  • Web3 Accountant Global Crypto Tax Report 2024

    Web3 Accountant Global Crypto Tax Report 2024

    Wei Xiang

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    2024 has been a landmark year with Bitcoin reaching an all-time high (ATH), attracting increased scrutiny from tax regulators worldwide. Equipped with advanced technology and substantial budgets, regulators are now more educated and prepared than ever before. From Dubai, Singapore, Hong Kong and Malta having tax incentives with no capital gain tax to the increase… Read more

  • [WEB3 ACCOUNTANT] How do Public Listed Crypto Entities Account for Staking Revenue?

    [WEB3 ACCOUNTANT] How do Public Listed Crypto Entities Account for Staking Revenue?

    Wei Xiang

    Galaxy Digital Holdings LP is listed on the Toronto Stock Exchange (“TSX”) under the ticker “GLXY.” It is a technology-driven diversified financial services and investment management firm that provides institutions with a full suite of scaled financial solutions spanning the digital assets ecosystem. Accounting Policy: Revenue is measured at fair value of the digital asset at… Read more

  • [TRM] BitClout Founder Charged With Defrauding Investors

    [TRM] BitClout Founder Charged With Defrauding Investors

    Wei Xiang

    This week, the U.S. Department of Justice and the FBI announced the arrest of Nader Al-Naji, the founder and promoter of BitClout tokens. Al-Naji has been charged with fraud for making false and misleading statements to BitClout purchasers and claiming not to control the use of investment funds. According to the criminal complaint filed by… Read more

  • [Continuum] Why Cyber Insurance is Essential in an Increasingly Digital World

    [Continuum] Why Cyber Insurance is Essential in an Increasingly Digital World

    Wei Xiang

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    On Friday, July 19, 2024, a massive global technical failure highlighted the severe vulnerabilities of the interconnected digital environment. The incident was triggered by a software update from cybersecurity company CrowdStrike, leading to grounded flights, broadcast interruptions, and disruptions to essential services like healthcare and banking for millions of people. This event taught businesses of… Read more

  • MAS and SFA invite nominations for 2024 Singapore FinTech Festival FinTech Excellence Awards

    MAS and SFA invite nominations for 2024 Singapore FinTech Festival FinTech Excellence Awards

    Wei Xiang

    A total of eight winners will be announced at the 2024 Singapore FinTech Festival (one winner from each of the five corporate categories and three winners from the individual category). This year, the categories have been redesigned to focus more on outcomes and have added thematic categories. Entries can be submitted in the following categories:… Read more

  • [BitGo] Bitcoin 2024 Nashville Conference Report

    [BitGo] Bitcoin 2024 Nashville Conference Report

    Wei Xiang

    Here are some titles for speeches/discussions: We are now moving towards a new reality where Bitcoin must be considered a strategic asset that nations should accumulate, similar to gold and oil. We have observed that as prices rise, institutional investors’ interest in exchange-traded funds (ETFs) has significantly increased. Ironically, Bitcoin was born out of the… Read more

  • [MAS] Purpose Bound Money: A New Paradigm of Value Transfer 💸🔗

    [MAS] Purpose Bound Money: A New Paradigm of Value Transfer 💸🔗

    Wei Xiang

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    Utility of digital money is on the rise and can exist in multiple forms (central bank digital currencies, stablecoins, tokenized deposits, and liabilities). Those issued on a blockchain offer the promise of programmability and greater functionality in value transfer for end-users. Purpose Bound Money (PBM) 💰, a version of programmable money, may find product market… Read more

  • [KPMG]Global Analysis of Fintech Funding in H1’2024 🌍💰

    [KPMG]Global Analysis of Fintech Funding in H1’2024 🌍💰

    Wei Xiang

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    2024 got off to a challenging start for the fintech market globally, driven by ongoing concerns related to geopolitical uncertainty 🌐 and high interest rates 📈. Total global investment declined from $62.3 billion to $51.9 billion between H2’23 and H1’24 — the lowest six months of fintech investment since H1’20. All regions experienced a noticeable… Read more

  • Coinbase Institutional Market Intelligence: Stablecoins and the New Payment Landscape 💳🌐

    Coinbase Institutional Market Intelligence: Stablecoins and the New Payment Landscape 💳🌐

    Wei Xiang

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    Stablecoins settled $10.8T worth of transactions in 2023, of which $2.3T were related to organic activities including payments and cross-border remittances 🌍💸, among others. We believe stablecoins could be a vital use case for the real economy, leading to further disruption among incumbents in the payments space. Today’s payment giants suffer from major disadvantages, including… Read more

  • [Liquifi] How to Launch a Token: Preparing for Launch

    [Liquifi] How to Launch a Token: Preparing for Launch

    Wei Xiang

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    Editor’s note: “What do I need to know to launch a token?” is one of the most common questions we get from crypto founders, especially given the industry’s dynamic regulatory landscape. To ensure compliance, security, and long-term success for your project, it’s crucial to approach token launches from proper principles, especially during “hot” market periods.… Read more