In this episode of the Crypto Daily Download, we dive into the latest developments in the cryptocurrency world. The Financial Accounting Standards Board is set to explore whether certain cryptocurrency assets can be classified as cash equivalents and how to account for crypto transfers. This decision is expected by the end of summer 2026. A small fintech company linked to a Trump family crypto project has made headlines by firing its auditor just weeks after hiring them, due to licensing issues. Bitmine, led by Tom Lee, is preparing to launch its Made in America validator network in early 2026, with ambitious projections of generating over $1 million per day in ETH staking rewards, contingent on several factors aligning. Strategy has made a significant move by purchasing over 1,200 Bitcoin for $109 million, raising its total holdings to nearly 672,500 Bitcoin, although the news has impacted its common stock negatively. Jane King with the latest from the NYSE.
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The Financial Accounting Standards Board in 2026 will explore whether some cryptocurrency assets may qualify as cash equivalents and how to account for crypto transfers.
The Wall Street Journal reports the Accounting Standards setter for US companies and nonprofits added these two crypto projects to its agenda over the past few months in response to public feedback.
The board has said it.
To decide on all those possible additions by the end of the summer.
Well, a small financial technology company tied to the Trump family crypto project has fired its auditor.
Alt 5 Sigma Corp dismissed the auditor Victor Mocalo, CPA on Christmas Day, less than 3 weeks after hiring it, according to a regulatory filing.
The company had no disagreements with the Houston-based accounting firm, but its license to practice lapsed in August, meaning it.
Was disqualified from vetting Altive's books, and BitMine, led by Chairman Tom Lee, gearing up to deploy its Made in America validator network in early 2026.
The U.S.based Ethereum staking infrastructure is designed to monetize its massive ETH treasury.
The company has sparked attention with projections suggesting Maven could generate over a million dollars per day in ETH staking rewards.
However, caution arises as several conditions.
Must align for that to become a reality, and Strategy purchased more than 1200 Bitcoin for $109 million last week at an average price of $88,500 lifting the company's total holdings to 672,497 Bitcoin.
The purchase was funded through the sale of common stock strategy.
Common stock fell on the news, and that is the latest crypto daily download headlines.