FTX USD account balances incorrectly reported

Describe the problem:
FTX allows you to send USD stable coins to FTX directly as USD. For example, I could send 100 USDC from Coinbase to FTX as USD. FTX received this as USDC, then converts directly to USD. FTX does not record a 100USDC to 100 USD conversion. When the transaction appears in Koinly, Koinly reports that there is incorrect balances. It will show USDC as +100 and USD as -100

Which exchange/wallet is this regarding?
FTX

How did you import data into this wallet?
Autosync

What have you tried to fix this so far?
Created a USDC to USD swap transaction

3 Likes

Having just added an FTX wallet, and funded it with a USDC transfer from another wallet, i have the same/similar issue with USD/USDC labelling. Will try a manual trade correction for now, but clearly this will persist on every single trade going forward involving USDC on FTX. Please advise.

Yeah this needs to be fixed

Ok - so i tried manual trades, swaps, soft deletes etc etc - nothing worked to resolve issue in koinly. i ended up deleting my FTX wallet, starting over, and manually inputting trades - ignoring the API. If Petur is reading this - any advice/view/timings on getting a fix in place would be appreciated. I really want to do more in/around Solana, but Koinly is being a bit of a handbrake on my plans simply due to the administrative overhead of not having a working API. Would appreciate at least knowing that someone from Koinly is on ‘discuss’ and has read this.

4 Likes

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