🚨Millions of crypto traders are receiving their first 1099-DA forms.
Many will receive CP2000 letters next.
Here’s why.
The IRS now receives Form 1099-DA directly from crypto exchanges, reporting the proceeds from digital asset transactions. Their computers compare that information with what appears on your tax return.
If something doesn’t match, the system automatically generates a CP2000 notice proposing additional tax.
Most 1099-DA forms report proceeds, not cost basis.
For example: If you sell crypto for $50,000 that originally cost $48,000, your real gain is $2,000.
But ,the IRS computer may only see $50,000 in proceeds and assume it’s all profit.
That mismatch can trigger a CP2000 letter.
A CP2000 isn’t just a warning. It’s a notice of proposed tax assessment. You typically have 30–60 days to respond.
If you ignore it, the IRS may assess the tax automatically, assuming you agree with their calculation.
This isn’t a traditional audit. It’s a computer-generated mismatch notice. But, if handled incorrectly, it can still lead to large tax assessments and years of disputes.
After the assessment becomes final, the only way to challenge it may be Tax Court.
We’ve seen cases drag on for five years or more.
If you receive a CP2000 notice related to crypto or any other IRS notice, don’t ignore it.
Upload the notice to CryptoTaxAudit, and our team will review it and contact you within 48 hours with guidance on how to proceed.
https://t.co/xS2dKlKk6l
notably, he had a huge intel call position in the fund. intel, ordinarily a sleep stock, skyrocketed in september when it emerged that the US government would take a stake in the company.
some of his other positions absolutely printed:
- IREN: 6x YTD
- CRWV: 3.5x YTD
- APLD: 4.3x YTD
we don't specifically know his returns since we are guessing based on his 13Fs and Intel strike prices, but I would guess his AUM is well over $2b today, and I believe he is up over 100% in 2025 so far. most likely one of the best performing HFs on the planet this year, especially the scale he's operating at.
The basic mindset of doing well in markets
Buy very well and then be ok with selling decently averagely
Most people buy at decent prices and then try to time selling perfectly
The first one starts from view that things can go wrong and is prepared for many scenarios
The second only thinks about being right and inevitably loses
I am a price action maxi at heart, but it's difficult to beat a simple EMA strategy when price is trending.
This is my go-to EMA strategy, which can be used on any timeframe.
Enjoy
Fast EMAs: 33,55
Slow EMAs: 100,200 (cloud)
This is what happens upon a failed break.
> people get liquidated
> oi rises pre-breakout
> limit side overwhelms market
trade breakdown explained ↓
Bad news: you suck at writing
Good news: it's easy to fix
Just write like you talk. Then every time you write something, read it out loud. If you wouldn't say it, edit it
Repeat this until you don't need to anymore
pretty sure a lot of social apps are just going to start incorporating gambling directly where they already have users
uber + uber eats let ppl buy lottery tickets
robinhood & X just enabled prediction markets on march madness
trend is overwhelmingly shifting to how can we squeeze retail as much as possible knowing most ppl dont see saving + home ownership as a reasonable pathway in < 30 years
Claude 3.7 Sonnet is…
- a 10x dev
- with incredible taste
- that’s smarter than you
- but infinitely patient
- and delightful to work with
Literally the perfect teammate.
I honestly can’t believe we have a day-to-day coding model that’s this good - it’s unbelievable.
I've tried all (36) AI Coding Agents & IDEs 😵💫
[CreateXyz, Cursor, Softgen, Windsurf, Wrapifai, Copilot, Lovable, Bolt, v0, Replit, MarsX, AmazonQ, Pear, Devin, Github Spark, IDX, Webdraw, Claude 3.7 Sonnet & more]
The most complete list ever made:
One of the things we've been most impressed by internally at Anthropic is Claude 3.7 Sonnet's one-shot code generation ability.
Here are a few of my favorite examples I've seen on here over the past day:
A market low we havn’t seen since 2020 and meanwhile $GYAT was reaching an all time high, showcasing the strength of it’s community. Update: we are directly speaking with Moonshot and going to get listed soon. Big things to follow. #patience#GYATCOIN
My plan the rest of this bull market is to sell on large pumps and put a majority of the cash into $JLP Multiply by @KaminoFinance.
$JLP chart on it's own is a thing of beauty. It has captured a lot of the $SOL upside with much less volatility. Best part, I can do size.