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An early Bitcoin investor from Austin, Texas, has been arrested for failing to report crypto capital gains involving the sale of around $3.7 million worth of BTC. Investor Frank Richard Ahlgren III “falsely underreported (realized) capital gains” earned from the sale of approximately $3.7 million in BTC between 2017 and 2019, the US Department of Justice (DOJ) said in a Dec. 12 report . Bitcoin Investor Started Buying BTC Back In 2011 Ahlgren started investing in BTC in 2011. In 2015, he purchased 1,366 Bitcoins on the leading US crypto exchange Coinbase when BTC was trading under $500. Two years later in 2017, the investor then sold 640 BTC at an average price of $5,807.53 before reinvesting $3.7 million into real estate. However, authorities identified discrepancies in Ahlgren’s 2017 federal income tax return. In their report, the DOJ said the investor “filed a false 2017 federal income tax return that substantially inflated the cost basis of the bitcoins...

James Donaldson, better known as MrBeast, is a veritable YouTube superstar. Once a media darling on account of several charitable videos, he appears to be attracting an endless stream of controversy in 2024. Donaldson’s stroke of bad luck began when close collaborator Ava Kris Tyson was accused of impropriety involving a minor — just weeks later, a former employee alleged widespread fraud that would amount to running an illegal lottery — one aimed at children. However, this latest development just might prove to be a turning point for the YouTuber’s career. An initial investigation showed that MrBeast profited as much as $10 million from backing low-cap IDO (initial DEX offering) crypto tokens, as per an X post from online-sleuth SomaXBT. Picks for you Gold hits new highs — Is 2025 set to be ‘extraordinary’ for the precious metal? ...