On April 6, co-founder and CEO of Figure, Mike Cagney, posted on X (Twitter) that he recently received a 1099-MISC tax form sent by a CEX Custody, indicating last year's income of $1,600, but the total assets from his three accounts are only about $10. After calling customer service, he experienced multiple transfers of responsibility, and was ultimately advised to “consult a tax advisor.” Mike Cagney also criticized the exchange for still delaying the passage of the “CLARITY Act,” implying that the blockchain industry no longer needs to heed their opinions.

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