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1️⃣ Click to check your Year-End Summary: https://www.gate.com/competition/your-year-in-review-2025
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An example of US tax loss harvesting: Xiao Ming invested in Nvidia stock in 2025 and earned $100,000. Assuming a 40% capital gains tax rate, Xiao Ming owes the government $40,000. Just this year, Xiao Ming bought 10 Bitcoins at $100,000. Before the end of the year, Bitcoin's price drops to $90,000, and Xiao Ming sells his Bitcoins at a loss of $10,000. At this point, his taxable profit turns into: $100,000 $NVDA profit - $10,000 $BTC loss = $0. As a result, he pays no taxes in 2025. Early in 2026, Xiao Ming repurchases Bitcoin worth $90,000, maintaining the same position, but saves $40,000 in taxes. Using this "financial trick," the amount of funds flowing out of the crypto industry in 2025 is approximately $20-40 billion (Gemini analysis). The question is: will these funds come back in early 2026?