If the investment company owns staked crypto assets, it generally will not derecognize those assets while they are staked. This is because neither the custodian, nor any other entity, obtains the right to direct the use of those staked assets during that time and, in any event, the investment company’s right to de-stake the assets is akin to a call option thereon that would preclude derecognition. Staking is a term often used to describe the locking up of cryptocurrency as collateral to help secure a particular blockchain network or smart contract protocol. Staking is also commonly used in reference to cryptocurrency deposits designated towards provisioning DeFi liquidity, accessing yield rewards, and obtaining governance rights. Cryptocurrency staking involves locking up tokens in a network or protocol to earn rewards, with those tokens used to help provide key services for users.
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This comes after the price of Dogecoin hit a new record high of $0.115 on April 13 – and the coin shows no sign of slowing down. Dogecoin’s price has immense potential. With the kind of fame rising, Dogecoin’s presence is vast compared to other competitors. Using Dogecoin needs no special training. Friendly to use, it brings real value to its users. It is now easy to bag your Dogecoin. So, usage of Dogecoin means power in the hands of the user. Dogecoin continues the bearish trend despite the significant recovery in the overall crypto market. The crypto made significant gains in the first half of 2021, but since then, the downfall of this dog-theme-based crypto is yet to halt. One of the Dogecoin creators, Billy Markus, admitted in an interview that he made Dogecoin in “just two hours”, and didn’t even “think of the environmental impact”, but the lighthearted coin has seen unforeseen acceptance, and although it’s still nowhere near the scale of Bitcoin, it’s market cap has risen strongly over the years.