🎵 From Success to Failure: The Musical Story of Jonathan Mann 🚨
#BigTechStablecoin #MarketPullback #ETH🔥🔥🔥🔥🔥🔥 #TRUMP #binance
🌟 Amazing Rise: NFT artist Jonathan Mann, creator of the "Daily Song" project, earned $3 million from selling his archive as NFTs.
💥 Sudden Collapse: The value crashed with Ethereum's decline in 2022 coinciding with the Terra system collapse.
📉 Harsh Taxes: Faced a tax bill of $1.1 million from the IRS, calculated on the value of Ethereum at the time of receipt, regardless of the loss!
🏦 Loan Loss: To avoid selling at a loss, he borrowed through Aave against 300 Ethereum, but market liquidation wiped it out in an instant.
💎 Final Solution: Mann sold a rare Autoglyph token for $1.1 million to pay the taxes, and avoided capital gains tax thanks to previous losses.
🎯 Lesson: The market is volatile, so plan and be prepared! Mann continues to write daily songs and cautiously dreams of new wealth. 💪
