🟦 Theeneuromancer.Base.eth

Imagine a woman fleeing an attacker—and her car won’t start because it thinks she’s impaired. Imagine a farmer injured on the job—his truck won’t start because it thinks he’s drunk. These are the unintended consequences of the Kill Switch mandate. Kill the Kill Switch.

today is a turning point for $PUMP and pump fun I want to give more context on the bigger picture and where we're actually going. over the past ~9 months, 100% of revenue went into buybacks. basically no other platform in crypto has done that at this scale. however, we received ongoing feedback specifically on the feeling of a lack of trust - in the certainty of buybacks, in what would happen to the bought-back tokens, even in whether the business itself would be here in a year. today, we’re changing that. it started with burning ~$370M worth of $PUMP purchases. ~36% of the circulating supply removed from circulation, forever. but that isn’t enough. we’ve also allocated 50% of our next year of revenue to programmatic buybacks & burns. no more uncertainty for those who believe in us & those we’re proud to call our community. but why not 100%? the short answer is the business simply needs the other 50% to grow. a large treasury gives us the flexibility to make big bets over the next 5-10 years, and 50% of ongoing revenue enables us to build better products, infrastructure & reinvest into the ecosystem. I am extremely confident that 50% of the business we're building toward will dwarf 100% of the business we have today.

The silver lining if you lost money in the Drift hack is that it could be a decent tax deduction. But TurboTax won't help you document it. Usually, lost or stolen property is not a tax deduction. But when you experience a theft loss while entering into a transaction for profit, you can potentially treat it as an ordinary loss. Unlike a capital loss, this can actually be used to offset your income. In the case of Drift: Pretty much no matter how you look at it, you put funds on there with a profit motive. Either earning interest, or by trading. So how much can you write off? You are limited to the cost basis of what you paid for the assets you lost on Drift. If you had stables on there, the full value of the stables you lost. If you had SOL on there that you bought at the pico top for $12k? Even if it was only worth $4k at the time of the hack you still get a $12k deduction. This is not an automatic or guaranteed write off, however. It is a tax position you should take with the guidance of a licensed tax professional. Especially if you lost a high dollar amount which would attract scrutiny. And we still need to see what type of recovery plan Drift puts in place before you can determine the deductible amount. But bottom line? You could offload some of your losses to the IRS.

all I can say here is we are admitted into the program.