How would the bank react to/handle you becoming crypto rich in a a few days and trying to desposit tens or hundreds of millions after cashing in?

Question

Surely if you just dropped 100 million in, something would happen.

In: Technology

Answer 1

Assuming you sell your bitcoin in bulk from a platform, there will be a wire transfer from the buying platform to your bank. If the amount is significant, they will take some time to process it and they will notify the IRS so you better be ready to pay taxes.