Hello friends,

I know, I know, this week's newsletter was supposed to be a "how to migrate to Arweave in 90 seconds" tutorial.

Life is hectic.

Balancing everything—family, work, and creating content—is challenging. With only 24 hours in a day, it's tough.

But I'm doing my best to bring you amazing tutorials and tools (Let me know if you wanna be a beta tester).

For now, enjoy this newsletter; it will save you a lot of headaches.

How everything started

In 2021, @beeple made headlines with a $69M (~ETH42,000) NFT sale.

Then he cashed out.

Some felt confused or scammed:

sassal.eth/acc 🦇🔊

Beeple rugged us like a 2017 ICO scam

but he had to do it...

No matter where you live:

And be careful, because this can shatter your dreams.

A true story

One of my friends made $350,000 in 2021 from a big project, and kept everything in crypto.

The guy is a true degen 👑

Still, he later consulted an accountant.

The news was devastating:

He owed $200,000 but didn't have the money. What happened ?

Well, after selling his project, ETH plummeted BIG TIME.

He sold for $350k but now only had ~$100k !

In some countries, taxes are based on the value at the time of selling.

So, if you sell for a million and ETH crashes to zero, you still owe taxes on that million.

How crazy is that? Beeple's $69M sale could've been a disaster.

Sure, ETH went up, but would you have bet $69,000,000 on that?

Let's say he owes half to the gov, and ETH drops 50%, he's broke.

The headlines would have been different:

He sold for $69M but goes bankrupt ?!

If you think "well if it fluctuates but not that much right?"

Look again 👇

I'm not telling you to always withdraw your sales (even though I do).

This isn’t financial advice, of course your situation depends on local law.

But if the government takes 30%, plan for it. maybe withdraw 30% or use stablecoins to reduce risk.

Tools like 0xSplits can help you automate this. (let me know in the comments if you want a tutorial on how to use Splits for taxes)