Crypto for Advisors: Why crypto earnings reports can be misleading

Crypto earnings reports often distort reality because they mix on‑chain metrics with traditional accounting, double‑count revenue, and omit volatile token price swings, leading advisors to overestimate profitability; firms typically highlight gross transaction volume while ignoring net fees after network costs, and they present non‑GAAP figures that mask cash‑flow risks, which can mislead investment decisions and distort market valuation.