π#dogecoin blows up by 77%.
π°#Binance invests $500mn in Elon's Twitter takeover
πMeta's #metaverse division loses billions of $$ in a quarter.
Keep reading for more.π
1/ #dogecoin (DOGE) blows up by 77% over the week following Elon musk's acquisition of Twitter.
2/ Binance is creating an internal team to help Twitter fight bot accounts using blockchain and crypto.
3/ Google to launch cloud-based node engine service for #Ethereum developers; Google aiming to become infrastructure providers for web3.
4/ Meta's Metaverse division reported a quarterly loss of $3.67 Billion! π€―
5/ Binance invests $500 Mn in the Twitter acquisition by Elon Musk.
6/ Twitter users can now display #NFT marketplace listing from certain platforms, and buy and sell collectibles on Twitter.
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DAOs have witnessed huge growth recently- with many of them sitting on billions of $$ in cash.
But amidst these huge sums of money and transactions involved,
how do taxes on DAOs work? π§΅
Although there have been no clear reports for #crypto taxes on DAO profits,
If you are being paid in crypto in exchange for any services or goods, it's required to be filed as income subject to tax in the country where the work was performed.
In case you receive governance tokens or NFTS as a reward or as a part of the DAOβs launch, it should also be reported on your crypto tax filing as income.
Any profits from selling those will be subject to capital gains tax.