[nonch0n]

Broeksmit traded on a decentralized exchange (DEX) without Know Your Customer procedures, so all the tax office would presumably be able to track was a send transaction from some fiat onramp/CEX to a public address. That's his initial "funding" and from there, they're blind.

Trading on a DEX and taking the shitcoin valuations there seriously is like giving yourself a billion dollars by typing it into Excel. You can write whatever number you want, the IRS has no interest in your excel sheet because there aren't real dollars there.

Getting an enormous tax bill from the IRS was part of Broeksmit's ideal situation, I imagine. That would mean getting a supported cryptocurrency like BTC back into his CEX through a DEX with a liquid DEXSHITCOIN/BTC pair after making hella savvy trades between DEXSHITCOIN/DEXPOOPCOIN pairs.

Sounds like it started as a half joke and "middle finger to crypto" but he dumped too much cash into the joke, and from there it consumed him. Super sad, and I see the same thing happening with NFTs now. Crypto and NFT trading and investing can be done responsibly, successfully and in full view of the tax man but ironically, only with the most centralized platforms... and probably, only for now.

RIP Broeksmit