The Attorney General of DC Announces That Michael Sailor and Micro Strategy Are Suing for Tax Evasion

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Michael Saylor is the CEO of micro strategy, a tech company that owns more Bitcoin than any other corporation in the world. He stepped down from his role as CEO at the beginning of last month and some theorized it could be because he was putting so much money into Bitcoin. The attorney general of DC has filed a lawsuit against him for not paying income tax despite being a full time resident of D.C. Shum says this comes just before the Ethereum merge is about to happen.

Welcome to Chain Reaction, where we unpack and explain the latest in crypto news, drama and trends, breaking things down block by block for the crypto curious.

For our Thursday episode focused on major news topics this week, we discussed the latest drama surrounding crypto mega exchange Binance which is making its presence known in the stablecoin game and shaking up the ecosystem as it looks to muscle its way to supremacy. We also covered:

Sorare gets into NBA fantasy sports thanks to a new partnership with the league. Can Sorare beat out Dapper’s NBA Top Shot?
MicroStrategy ex-CEO and Bitcoin bull billionaire Michael Saylor sued for tax fraud by DC Attorney General; the government estimates Saylor may owe as much as $100 million in income taxes to DC.

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Chain Reaction comes out every Thursday at 12:00 p.m. ET, so be sure to subscribe to us on Apple Podcasts, Spotify or your favorite pod platform to keep up with the action.