Wallet-level reconciliation at volume, fair value measurement under ASU 2023-08, and a documented position before the auditor asks.
Digital asset accounting broke most of the tooling built for fiat businesses. Thousands of on-chain transactions across multiple chains, each needing a cost basis and a fair value at transaction time, is not a spreadsheet problem.
We run the accounting function for protocols, exchanges, and Web3 companies that hold treasury in digital assets and need financials an institutional investor will accept.
Multiple wallets across multiple chains, each transaction needing basis and fair value at the time it occurred. Manual reconciliation fails within a few hundred transactions a month.
In-scope crypto assets moved to fair value with changes through net income. The old cost-less-impairment model no longer applies, and the disclosure requirements are new.
Tokens granted to the team, held by a foundation, or sitting in treasury raise recognition, valuation, and lockup questions with no default answer.
Recognition timing differs from ordinary revenue, and the tax treatment does not follow the book treatment.
We run wallet-level reconciliation through purpose-built subledger tooling, apply fair value measurement under ASU 2023-08 with the required disclosures, and document a defensible position on token issuance and protocol revenue before an audit forces one. Fiat and crypto books close together, as one set of financials.
Subledger-driven, with basis assigned per transaction.
ASU 2023-08 compliant, including holdings and activity detail.
Written positions on grants, lockups, and valuation.
Recognition policy and monthly schedules.
Documentation an auditor can actually test.
Every disposition is a taxable event with its own basis and holding period, and book fair value under ASU 2023-08 does not carry over to the return. Staking and mining income is generally ordinary at receipt. Token compensation raises Section 83(b) timing questions that are unforgiving if missed. Entity structure and jurisdiction choices made at formation are expensive to unwind later.
Yes, through a dedicated subledger that ingests wallet activity, assigns cost basis, and pushes journal entries to the ledger. Manual reconciliation does not scale past a few hundred transactions a month.
In-scope crypto assets are carried at fair value with gains and losses in net income, plus new disclosure of holdings and activity. Simpler than impairment testing, but the disclosures are more demanding.
That's the point. One close, one team, one set of financials.
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