Tomek

Head of Crypto Accounting @CoinTracker prev @SALTlending

[Tomek @TheCrypto_CFO]

Today is a big day for crypto regulation.

The Senate Banking Committee has scheduled a markup of the Digital Asset Market CLARITY Act today — the same bill that was pulled from the calendar back in January. The sticking point then was stablecoin yield. It's still the sticking point now.

Last month, the White House Council of Economic Advisers published a 21-page economic analysis directly challenging the banking industry's core argument. The findings:

- Banning stablecoin yield would increase bank lending by just **$2.1 billion** — 0.02% of total loans outstanding

- Community banks specifically would see only **$500 million** in additional lending — a 0.026% increase

- The net welfare cost of a yield ban: **$800 million** — money lost by everyday consumers who no longer have access to competitive returns on their savings

- Even stacking every worst-case assumption simultaneously — stablecoin market growing 6x, all reserves locked in segregated deposits, the Fed abandoning its ample-reserves framework — the model produces only $531 billion in additional lending. Four independently implausible assumptions, all at once.

The CEA's conclusion was blunt: a yield prohibition would do very little to protect bank lending while taking competitive returns away from ordinary people holding stablecoins.

The American Bankers Association fired back this morning anyway — warning of deposit flight and financial stability risks. The White House crypto adviser responded by noting the ABA declined invitations to White House meetings in February specifically aimed at resolving this dispute.

The data is clear. The banks don't want competition. And a bipartisan compromise is sitting right there.

The question is whether the Senate Banking Committee has the votes — and the will — to move it forward today.

#CLARITY #Stablecoins #DigitalAssets #CryptoRegulation #Bitcoin

[Tomek @TheCrypto_CFO]

$293 million drained from Kelp DAO. $9 billion in outflows from Aave in 48 hours. The largest DeFi exploit of 2026.

In speaking with colleagues, I often see accountants treat bridged assets similarly to the original underlying asset — asset out equals same asset in. But rsETH is not ETH. It's a liquid restaking token with its own counterparty risk, smart contract risk, and as we just saw — bridge risk. When the underlying peg breaks, so does your cost basis assumption, your collateral valuation, and your balance sheet.

I wrote about DeFi counterparty risk a few weeks ago after the Drift Protocol hack. The Kelp DAO exploit is the same lesson, bigger stage: in DeFi, you have to understand exactly what you're holding — because the name on the token doesn't tell the whole story.

#DeFi #CryptoAccounting #DigitalAssets #RiskManagement #CryptoFinance

[CoinTracker Enterprise @CoinTrackerEnt]

CoinTracker Enterprise is partnering with @tempo

For finance teams running stablecoin payment flows, this is the accounting infrastructure you've been missing. ↓

[Tomek @TheCrypto_CFO]

@nikitabier How to action when it seems so many people online are mentally ill 🫠

[Tomek @TheCrypto_CFO]

@camidarling @CoinTracker Was great working with you. Thanks for everything.

[Tomek @TheCrypto_CFO]

These prices almost look fake today

[Tomek @TheCrypto_CFO]

https://t.co/sN6lJC3v7N

[Tomek @TheCrypto_CFO]

Tax Day is 2 days away.

If you're a crypto holder staring at your taxes wondering if you're doing this right — you're not alone. Not even close.

My colleague Shehan Chandrasekera, Head of Tax Strategy at CoinTracker, was featured in a Thomson Reuters piece last week that highlights something our own data confirms: most crypto users want to comply. The knowledge gap is the problem.

From the 2026 Crypto Tax Readiness Report (Coinbase x CoinTracker, 3,000 US crypto holders):

- Only 49% of crypto users know crypto is taxable when sold

- 71% have moved crypto between wallets — but only 35% adjust their cost basis correctly

- 65% have already reported crypto activity — the intent to comply is there

The intent is there. The understanding isn't.

And honestly? That's not surprising. Crypto taxes are genuinely complex. Every trade, every swap, every DeFi interaction, every staking reward — potentially a taxable event. The rules weren't written with simplicity in mind, and the tooling to make sense of it all is still catching up for most people.

As Shehan put it: users are responsible for correctly computing their cost basis, holding period, and actual gains or losses. That cost basis problem is uniquely hard to solve — and it's exactly why the right technology and data matters.

If you're still figuring it out — the CoinTracker team is here to help. Whether it's understanding what's taxable, getting your cost basis right, or just making sure you're filing with confidence, this is what we do.

Two days left. Don't guess.

#CryptoTax #Bitcoin #DigitalAssets #TaxSeason #CoinTracker

[Tomek @TheCrypto_CFO]

Six months ago Bitcoin hit an all-time high of $126K. Today it's sitting near $72K — roughly 43% off the peak — and the crypto winter narrative is running loud.

And yet today, Morgan Stanley — the bank that once published a research note concluding Bitcoin could be worth zero — launched the first spot Bitcoin ETF from a major US bank.

Let that sit for a second.

MSBT started trading this morning on NYSE Arca. Physical Bitcoin. 16,000 financial advisors with access to $9.3 trillion in client assets now have a first-party product to put in front of those clients.

And this is just one piece of a much bigger buildout. Morgan Stanley has also filed for Ethereum and Solana ETFs, applied for an OCC National Trust Bank Charter covering digital asset custody and staking, and plans to roll out retail crypto trading on E*Trade in the first half of 2026.

This is what "crypto for the masses" actually looks like. Not a memecoin supercycle. Not a viral tweet. A 9-figure wealth management machine quietly embedding Bitcoin into the portfolios of everyday investors — through the same advisor they call about their 401(k).

The crypto winter narrative is real. Price is down, headlines are thin. But the infrastructure build has never slowed down. While retail checked out, institutions were building the rails.

Fannie Mae-backed crypto mortgages. NYSE tokenizing equities. Coinbase with a federal trust charter. Tether finally getting a Big Four audit. And now Morgan Stanley with its own Bitcoin ETF.

None of this happens in a market that's actually dying. It happens in one that's quietly maturing.

The fundamentals are still there. Crypto continues to scale. It just doesn't always look like what you expect.

#Bitcoin #DigitalAssets #InstitutionalFinance #CryptoAdoption #MorganStanley

[Tomek @TheCrypto_CFO]

Who got fooled on April 1st?
Drift Protocol. To the tune of $285 million.
Unfortunately, this wasn't a joke.

On Tuesday, one of Solana's largest DeFi exchanges was drained in 12 minutes. The attacker didn't need to break any code. They just needed to exploit something DeFi has never really solved: you have no idea who your counterparty is.

A multisig governance threshold had been quietly changed weeks earlier. No timelock. No announcement. Two security audits — both passing grades. Nobody caught it.

Prank of the year.

This is the core DeFi counterparty problem that doesn't get talked about enough in institutional finance circles. On a regulated centralized exchange, your counterparty is known. There are compliance programs, regulatory oversight, legal accountability, and insurance frameworks. The risk is quantifiable.

In DeFi, your counterparty is a smart contract — governed by a multisig controlled by people you've never heard of, under rules that can change overnight without your knowledge or consent.

That's not a reason to avoid DeFi entirely. The yield opportunities are real. But as a CFO or Controller operating at scale, you need to be asking:

*Who controls the governance keys?
*What are the thresholds and timelocks?
*Has anything changed since the last audit?
*Does your board understand this risk?

Regulated, audited centralized exchanges solve for a lot of this. Not perfectly — but the risk is at least knowable.

DeFi is still the wild west. Don't let anyone fool you into thinking otherwise.

#DeFi #CryptoRisk #DigitalAssets #CFO #InstitutionalFinance #RiskManagement

[Tomek @TheCrypto_CFO]

@JustinB90072145 BTC will be trading at $250K USD

[Tomek @TheCrypto_CFO]

Coinbase just received conditional approval from the OCC for a national trust charter.

This is crypto market infrastructure quietly converging with TradFi — and it's moving fast.

What this actually means:

*Coinbase will operate under a single federal regulator (the OCC) — the same agency overseeing national banks — replacing a patchwork of state licenses

*The charter is purpose-built for digital asset custody under federal fiduciary standards

*No deposits. No lending. Just regulated custody at institutional grade

*Coinbase isn't alone — BitGo, Circle, Fidelity Digital Assets, Ripple, and Paxos have all received similar conditional OCC approvals

For CFOs and Controllers evaluating crypto infrastructure: the "who regulates this?" question that's killed more procurement approvals than anything else is getting answered — at the federal level.

Conditional approval is not final. But the direction is clear.
#CryptoAccounting #DigitalAssets #Coinbase #InstitutionalFinance #OCC

[Tomek @TheCrypto_CFO]

@brian_armstrong Love seeing all the recent progress with Base

[Tomek @TheCrypto_CFO]

@CoinTracker @adamshurwitz @khalidakbary Approved.

[Tomek @TheCrypto_CFO]

@jacobma82040711 @TheCryptoCPA @CoinTracker Looks pretty illiquid to me

[CoinTracker @CoinTracker]

Scenes from CoinTracker Cafe in SF this morning. ↓

📍The Coffee Berry on Lombard

[Tomek @TheCrypto_CFO]

@tryramp Stablecoin Summer was last year, but better late than never 🙃

[Tomek @TheCrypto_CFO]

A few weeks ago I wrote about Nasdaq and Kraken building tokenized stock infrastructure.

Now NYSE just signed an MOU with Securitize to do the same thing.

The two largest exchanges in the world are both building blockchain-based platforms for trading tokenized equities and ETFs. 24/7. Near-instant settlement. Stablecoin-funded.

Securitize — backed by BlackRock and Ark Invest — will be the first digital transfer agent eligible to mint blockchain-native securities on NYSE's platform.

Nasdaq is layering tokenization onto existing infrastructure. NYSE is building a separate blockchain venue from scratch.

Different architectures. Same direction.

The race isn't "will tokenization happen." That question has been answered. The race is now about who owns the infrastructure when it does.

And finance teams watching from the sidelines: the accounting frameworks for what comes next don't exist yet. That's not a problem for later.

#Tokenization #RWA #DigitalAssets #NYSE #InstitutionalFinance

[Tomek @TheCrypto_CFO]

@chapello Awesome to see Ramp embracing the future of finance.

[Tomek @TheCrypto_CFO]

Big news. Ramp is entering Stablecoins. This is the way.

[andrew chapello @chapello]

Excited to share that Ramp Stablecoin Accounts are now in public beta. Ramp customers can now:

1. Hold stables on Ramp
2. Earn rewards on stable balances
3. Pay vendors & employees worldwide in USDC
4. Pay off Ramp Card + USD payments using stables
5. Use one system for both fiat + stable obligations with the same approvals, controls, and accounting

We are bullish on the institutional adoption of stablecoins and to bring stable technology to Ramp customers.