So I got paid this morning, which is good. I am only really planning on one more paycheck at my normal salary, then it’ll probably be cut significantly until 23Q2. I’m trying to plan accordingly.
I just had this thought last night:
There was a Tweet going around over the weekend, when it looked like FTX’s internal systems were compromised, and people were saying to delete the FTX app. I did, as I don’t use it anyways, and I couldn’t login. Then another Tweet came out saying not to delete it because FTX was trying to destroy evidence. So sometime last night as I was trying to fall asleep, my brain went WHAT ABOUT TAXES?!
Anyone who deposited funds on FTX could reasonably claim that all funds were lost. I deposited thousands via ACH, and I still have those records. Most of my friends were doing the same and using FTX for custody, so they’ve got a total loss.
Part of my anxiety was the realization that I have no idea what my tax burden is going to be. I’m in a way higher income bracket now — perhaps temporarily — and a lot of my income went into coins that I still own. I could feasibly wash trade my BTC, ETH and SOL right now, and claim that deduction, along with whatever funds I lost in the CREAM hack (was that even this year?)
The good news is that the community is still really with us. The core community is still there and the team just had a huge fire lit under their asses. I feel it, and I know the rest of the team does as well. We have to deliver.