Hey I traded on Blockfi stablecoins for stablecoins, such as trading PAX for USDC, and it registers profits (some losses) on most of the trades, even though I personally made no money. The deviation in the stablecoin prices at the time made it so Blockfi did not have to sell PAX at $1 and buy USDC at $1. I imagine Blockfi pocketed this money.
My question is: can I mark these trades as “swaps” instead of “trades” in order to eliminate that profit/loss which I did not realize.
It sounds like Koinly is marking the coin at “market value” instead of your cost basis. You may need to do a bit of back tracking. I believe if Koinly knows what the original cost basis was for stable coin before the switch, it should zero everything out. This seems to work fine for me when swapping USD for GUSD. There should be a “swap” option now as well which should work okay.
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