The Tax Implications of the FTX Bankruptcy

The Tax Implications of the FTX Bankruptcy


If, however, the funds don’t end up being recovered and the exchange gets shut down (as we’ve seen with Mt. Gox, QuadrigaCX, BTC-E, Cryptsy, Celsius and so many others), I would recommend classifying tokens lost on FTX as worthless investment losses, and taking a capital loss in the year that it is determined that the tokens are deemed worthless.

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