Hey Waivly Crew! 🌊 Washington, D.C is suing MicroStrategy co-founder Michael Saylor for not paying income taxes. OpenSea will only support NFTs on the upgraded Ethereum proof-of-stake blockchain.
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MicroStrategy founder Michael Saylor sued over alleged tax fraud
D.C. Attorney General Karl Racine has accused MicroStrategy co-founder and Executive Chairman Michael Saylor of evading $25 million in district taxes.
According to a lawsuit filed Wednesday with the D.C. Superior Court’s civil division, Saylor avoided paying taxes he owed to the District by fraudulently claiming to be a resident of other, lower-tax jurisdictions, including Virginia and Florida.
Since 2005, Saylor has allegedly been living in several different homes around D.C., including a luxury penthouse on the Georgetown waterfront or aboard one of his yachts on the District’s Potomac riverfront.
The lawsuit also names MicroStrategy, the business intelligence company Saylor co-founded, as a defendant, claiming it “had detailed information confirming that Saylor was in fact a D.C. resident” but chose to withhold his address from tax authorities.
In a statement, MicroStrategy said, “The case is a personal tax matter involving Mr. Saylor. The Company was not responsible for his day-to-day affairs and did not oversee his individual tax responsibilities. Nor did the Company conspire with Mr. Saylor in the discharge of his personal tax responsibilities. The District of Columbia’s claims against the Company are false and we will defend aggressively against this overreach.”
The suit will be the first under D.C.’s recently amended False Claims Act, which encourages whistleblowers to report residents who evade tax laws by misrepresenting where they reside.
OpenSea won’t support Ethereum Forks
OpenSea, the largest NFT marketplace, has announced that it will focus on supporting NFTs on the upgraded Ethereum proof-of-stake blockchain.
In an announcement on Twitter, the company noted that while its team is not speculating on any potential forks (if there are forked NFTs on ETHPoW), they will not reflect on OpenSea as the platform will only support the upgraded chain.
The company also highlighted that its team has been preparing the NFT marketplace for any issues that may arise following the Ethereum Merge to ensure a smooth transition.
While the team doesn’t expect any major issues, it assured the community that it plans to monitor, manage and communicate with its users throughout the entire process. They also recommended developers become familiar with the Merge.
The Merge, one of the most significant upgrades in the history of Ethereum, is expected to occur between September 10th and September 16th. The event will shift the network from its proof-of-work consensus mechanism to a proof-of-stake model.
The Waves
🎫 Ticketmaster chooses the Flow blockchain for NFT tickets
🚀 Brian Armstrong & Vitalik Buterin discuss decentralization
👏 VR enables people to connect
💬 Network with others in Web3 on the Waivly platform
Hustle Special
5 quotes to help you stay positive
We all have bad days, weeks, months, or even years, but it’s important to still try to think positively. Here are five quotes that may help you look on the bright side.
A goal is not always meant to be reached, it often serves simply as something to aim at.” – Bruce Lee.
“Choosing to be positive and having a grateful attitude is going to determine how you’re going to live your life.” – Joel Osteen.
“Courage isn’t having the strength to go on – it is going on when you don’t have strength.” – Napoléon Bonaparte.
“When the sun is shining I can do anything; no mountain is too high, no trouble too difficult to overcome.” – Wilma Rudolph.
”If you are positive, you’ll see opportunities instead of obstacles.” - Widad Akrawi.
Own and secure your crypto with Ledger
If you’re into cryptocurrency and own crypto assets, you need a secure place to store your coins and tokens. You probably already know that you shouldn’t store your crypto on an exchange due to potential hacks, not being solely in control of your crypto’s private keys, and for other reasons, and so a hardware wallet is the way to go and the best option to protect your private keys, therefore, you should make the move to a Ledger wallet.
Ledger wallets are an extremely secure and premium way to secure, manage, and grow your crypto assets with their Bluetooth-enabled hardware wallets, and easy-to-use app which lets you manage your portfolio on the go. They let you manage multiple assets, buy, sell, grow, and exchange crypto, gain financial freedom by you being in full control and ownership of your private keys, and so much more.
The wallets are really simple to setup, and to move your crypto over to, so there’s no reason not to secure your assets and take control of your cryptocurrency now and get yourself a Ledger device. You can manage 1800+ coins and tokens directly in the Ledger Live app once you’ve got your device up and running, so you’ll always have your entire portfolio covered.
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