Musician Jonathan Mann sold his NFT songs and raised $3 million in ETH from it. But he decided not to realize the profit, as he believed in growth.

- As a result, Ether plummeted significantly, and the tax authorities issued a bill for $1.1 million at the old rate.

To avoid selling at a loss (after all, he believed in growth) - he collateralized Ether and took out a loan against it. But after that, chaos ensued with Terra - and all his collateral was liquidated.

- Now he continues to create NFT songs, hoping to get everything back.