According to @alice_und_bob, taking roughly half of compensation in vesting tokens created a corporate tax liability because token compensation is treated as company revenue, while the tokens could not be sold to build cash reserves (source: @alice_und_bob on X, Dec 5, 2025). The author states year 2 tax obligations were estimated off stronger year 1 revenue, with corporate taxes for both years due in September of year 2, just as the token price fell 70 percent (source: @alice_und_bob on X, Dec 5, 2025). As a result, the author reports being unable to meet tax payments either by selling tokens or using cash, creating acute liquidity stress and potential insolvency next year (source: @alice_und_bob on X, Dec 5, 2025). The author adds they are still exploring whether token losses can offset year 2 earnings, underscoring how vesting restrictions and tax timing can decouple liabilities from market liquidity, heightening downside and credit risk for token-funded operators (source: @alice_und_bob on X, Dec 5, 2025). For traders, this case highlights tax-driven overhang risks around vesting schedules and filing deadlines when token prices decline sharply, amplifying sell pressure and counterparty risk in crypto markets (source: @alice_und_bob on X, Dec 5, 2025).

According to @CryptoMichNL, crypto volatility is already extreme, so leverage should be avoided and used only for hedging, not for increasing risk (source: @CryptoMichNL on X, Nov 17, 2025). He reports his altcoin portfolio is down 70% but argues a one-month sentiment shift could return it to profit, while leverage risks liquidation and removes the chance to recover (source: @CryptoMichNL on X, Nov 17, 2025). For trading, he advises prioritizing spot exposure, strict risk controls, and optional hedges over leveraged altcoin longs to preserve downside flexibility (source: @CryptoMichNL on X, Nov 17, 2025).

According to the source, an unverified social-media claim states the Sigma Capital CEO warned BTC could drop 70% in the next downturn while keeping a long-term $1M target; because this cannot be validated via a permissible primary source, no trading conclusions or levels are provided at this time. Source: user-provided social-media snippet; no direct primary citation (e.g., Sigma Capital’s official X post, website statement, or filing) was supplied.