I'm not a legal expert, but is this donation enough to evade taxes? If so, many will take advantage of this loophole in the tax system.
My personal opinion of her is that he is trying to pay that money to individuals, but he is ashamed of the reason for paying, perhaps because of a scandal, or to silence their voice, or for any legal or illegal reason, and therefore such treatment will reduce the damage to his reputation.
All in all, regardless of the reason, betting $1 million on Bitcoin seems like a pretty crazy idea.
Topic: Coinbase CTO lose his 1million bet - page 2. (Read 128 times)
”The former chief technology officer at crypto exchange Coinbase Balaji Srinivasan said his $1 million bet on bitcoin (BTC) has been closed out ahead of time, and he has donated $1.5 million ($500,000 more than required) to three different entities as settlement.”
https://www.coindesk.com/business/2023/05/02/balaji-closes-bitcoin-bet-with-15m-in-donations-including-500k-for-bitcoin-core-development/
I find it weird since this bet is obviously bullshit because Bitcoin will never gonna hit 1M$ in 90days. This CTO is not dumb enough to waste money on this sure lose but.
I’m speculating that this guy is trying to get away with taxes by sending his money as donation on projects that he is involved behind. I smell tax evasion on this rather than a lose bet. What do you think?
https://www.coindesk.com/business/2023/05/02/balaji-closes-bitcoin-bet-with-15m-in-donations-including-500k-for-bitcoin-core-development/
I find it weird since this bet is obviously bullshit because Bitcoin will never gonna hit 1M$ in 90days. This CTO is not dumb enough to waste money on this sure lose but.
I’m speculating that this guy is trying to get away with taxes by sending his money as donation on projects that he is involved behind. I smell tax evasion on this rather than a lose bet. What do you think?
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