[ad_1]
Skype co-founder Jaan Tallinn holds most of his personal wealth in bitcoin and ethereum and has made multiple cryptocurrency-based donations to artificial intelligence companies.
In an article published by Fortune, the Estonian computer engineer, who became famous as one of the original creators of Skype, revealed that he kept most of his personal investments in cryptocurrencies and has been investing for some time.
According to documents filed with the Companies House of the UK Business Register, Tallinn made a donation of 350 ether – worth $ 434,000 at the time – to Faculty AI, a London-based company that helps build systems of machine learning for businesses and governments. The Skype co-founder made a further donation in March 2020 of 50 BTC, worth $ 316,000.
The Fortune article reads,
The reason for donating the money to the Faculty in cryptocurrency, Tallinn says, is that he keeps most of his personal wealth in that form, and converting it into cash would have resulted in an unnecessary capital gains tax bill, reducing the amount he could give.
Faculty AI CEO Marc Warner said the company initially didn’t know how to handle the donation.
He told Fortune,
Our accountants had to go find someone else who was working on crypto and how to do accounting for crypto.
Featured Image Credit: Photo via Pixabay.com
.[ad_2]Source link
