Blockchain
Verady Launches the Ledgible Crypto Platform to Unify Professional Tax and Accounting Offering
Ledgible, the leading professional-first platform for tax and accounting of crypto assets formerly aligned under the Verady brand name, announced the company’s comprehensive crypto tax management and reporting solution is now unified under the Ledgible Platform to connect traditional finance and accounting with the new realm of cryptocurrency and Decentralized Finance (DeFi). Crypto continues to grow in popularity and is going mainstream because of massive increases and adoption by investors, consumers, and financial institutions. The market cap for all cryptoassets is in the trillions meaning that tax and accounting professionals need a tax solution that is made for the blockchain.
This announcement comes alongside the news of Ledgible Crypto’s full integration into the top professional tax software solutions in the world. These integrated tax platforms are used by tax professionals to file over half of all the tax returns in the United States. With over 50 million Americans owning cryptoassets, Ledgible Crypto’s ability to enable these financial advisors to accurately assist their clients in handling this new asset class for reporting and planning is critical.
“With the start of tax season this week, we want to make Ledgible available to all the hard working tax professionals who are discovering they have clients with crypto when filing 2021 tax returns. The first question on the 1040 form is now asking if the filer has crypto,” said Kell Canty, CEO of Ledgible. “Our goal at Ledgible is to help empower tax professionals to serve their clients’ crypto needs. The Ledgible Crypto Platform automatically identifies taxable crypto transactions and calculates the gain/loss in the necessary reporting format for both individuals and tax preparation firms.”
One of the biggest challenges for crypto holders and tax professionals is to account, track, and manage all the crypto data across multiple wallets and exchanges to calculate gains/losses and income. Holders do not receive monthly statements and this process is time-consuming and difficult to do manually. While many transactions, like selling crypto for US dollars or other traditional currencies are widely understood, there are several nuances unique to crypto including, NFTs, swapping, hard forks, airdrops and making a purchase in crypto as well as income from mining, staking and other DeFi activities.
The Ledgible Crypto Platform is the bridge between cryptoassets and traditional financial accounting and the most advanced platform available for determining crypto tax liabilities and delivering that data to the tax filing systems used by professionals. Ledgible Crypto Tax is a SOC 1 & 2 Audited platform that features client and team management, collaboration driven workflow, and advanced crypto tax features for tax professionals. The platform produces IRS Form 8949 and other reporting formats that are directly importable to filing systems with all major tax and accounting solutions. The Ledgible Platform supports a wide range of integrations across major blockchains, cryptocurrency exchanges, and wallets.
Along with the Ledgible brand unification, the Company added two new executives. Trevor English is VP of Marketing where he is implementing SaaS brand strategy to accelerate the company’s growth and generate awareness around crypto tax obligations. Joe Stephens also joined as CFO where he oversees financial operations planning and reporting.
bybit lucky
Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
-
Blockchain5 days agoBridging Innovation and Regulation: How Yellow Network is Transforming Non-Custodial Trading in a Pro-Crypto Future
-
Blockchain6 days ago
Prosper Adds 7,000 More ASIC Miners from BITMAIN To Drive Tokenization of Hashrate as Multichain RWA ; Targets 170MW Capacity With New Strategic Round
-
Blockchain Press Releases6 days agoHTX Ventures Identifies Five Rapidly-Growing Sectors in 2024, Expects Positive Crypto Regulations Driven by Trump Next Year
-
Blockchain6 days ago
Blocks & Headlines: Today in Blockchain (Reserve Bank of India (RBI), Aethir, Blockchain Center Abu Dhabi, Qubetics, )
-
Blockchain3 days ago
50,000+ Mined Coins and 100,000 New Users: EMCD Summarizes 2024
-
Blockchain6 days agoLoan Brokers Market Opportunities and Strategies Report to 2033 – Loan Brokers Market Poised for Strong Growth, Forecasted to Reach $947.9 Billion by 2033
-
Blockchain5 days agoBuilding Bridges in Crypto: Bybit Sparked Dialogues and Joined Industry Leaders at Bitcoin MENA
-
Blockchain3 days ago
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
