Crypto Airdrop Tax Quirks

Sponsor: Consensus 2024 – 10 Years of Decentralizing the Future: Discovery, Dialogue and Dealmaking

1. 👨‍⚖️ Binance exec sues Nigerian gov. Binance's detained financial crime compliance head is suing Nigeria’s National Security Adviser and the Economic & Financial Crimes Commission.
2. 🔎 Google gets friendly with wallets. The search engine has opened up wallet address search functionality to Bitcoin, Arbitrum, Optimism, Polygon and others after their previous ETH and ENS support.
3. ✍️ Vitalik talks memecoins. In his latest blog post, the Ethereum founder discusses memecoin controversy and some of the good being brought about by the speculative frenzy.

📊 L2 gains. Mantle Network’s MNT is on track to outperform all other major Ethereum rollup tokens this month! What catalyzed a massive MNT pump this week, and can you capitalize on the opportunity?

	Crypto $2.63T	↘ 1.2%	↗ 8.2%
	BTC $69,506	↘ 1.8%	↗ 9.2%
	ETH $3,491	↘ 2.3%	↗ 4.8%

By now, I think everyone knows that the tax man is aware of your cryptographically secured coins and wants a slice of your gains.

Given it is tax season in many countries around the world, we know this time of year can be particularly stressful for crypto natives. The U.S. individual filing deadline is fast approaching, so we’ll focus on the IRS rules in this piece. Towards the end of 2023, the new meta was pretty obvious: airdrop farming.

Let’s look at some of the pitfalls of airdrop taxes, how to file your crypto taxes, and some tips to avoid getting rekt by the tax man. 👇

Consensus is celebrating ten years as the biggest and most established global hub for everything crypto, blockchain and Web3.

Get ready for 400+ speakers, 17K attendees, 100+ countries, 950 investors with $3 trillion AUM, presentations from 20+ key protocols including ETH & BTC Day, and summits dedicated to regulation, digital assets’ impact on culture and business, on-chain innovation and more. Prices increase 4/11 at 4 p.m. ET.

The Bitcoin ETF was a huge win for crypto. Will an Ethereum ETF be approved?

We brought Matt Hougan & Ryan Rasmussen of Bitwise to explore exactly that. We go through what made the BTC ETF so successful, what we need to replicate that process for Ethereum and what comes after the ETH ETF.

Bankless Citizens get Early Access to our Monday podcast 👇

Each week, Citizens get a curated list of yield opportunities that the Bankless team is watching. As a free subscriber, you're missing out! 👇

Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop this month. Did you miss out again?

Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 80 other crypto protocols in Airdrop Hunter waiting for you.