<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40"><head><meta http-equiv=Content-Type content="text/html; charset=utf-8"><meta name=Generator content="Microsoft Word 15 (filtered medium)"><style><!--
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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>…</b>> <b>On Behalf Of </b>Stathis Papaioannou via extropy-chat<br><b>….</b><o:p></o:p></p></div><div><div><div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>>…Is there any evidence FTX did not pay the taxes they legally had to pay?<o:p></o:p></p></div></div></div><p class=MsoNormal>-- <o:p></o:p></p><div><p class=MsoNormal>Stathis Papaioannou<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Stathis it isn’t clear to me they had any tax obligation. To have that, he would need actual profits. My theory is that Bankman Fried’s business had no traditional taxable earnings, but rather was a Ponzi scheme from the start. So… no profit, no tax bill.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>With that observation, my prediction is doubly cynical. I am suggesting Bankman Fried is an actual thief but not necessarily a tax code violator. Profit is legally-earned and is taxable. Stolen funds are tax-free. Further, I predict that the authorities won’t bother trying him in criminal court but the tax man will find a way to end up with any remaining assets they can get their grubby paws on. This is a full frontal attack by the US government on cryptocurrency exchanges, motivated by a fear that money is being made without their getting a cut of the action.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>spike<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p></div></div></body></html>