The Rise and Fall of FTX - What Happened? Webinar
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The Rise and Fall of FTX - What Happened? Webinar

CPE

When
Feb. 9
11:00 a.m. - 12:30 p.m.

CPE Credits
1.5-Other

Details

 Pricing

PICPA Member: $64 | Nonmember: $74


 More Information

Course No.
SITCJH15
Level
Overview
Prerequisites
None
Note
This webinar is hosted by PICPA's partner, CPA Crossings, LLC. After registering, you will receive an email from messenger@webex.com with the log-in information.

Description

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.

Learning 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

Highlights

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


Speaker(s)