CoinTracker (YC W18) raises $100M to scale cryptocurrency tax compliance | Hacker News Reader

CoinTracker (YC W18) raises $100M to scale cryptocurrency tax compliance

techcrunch.com

16 pointschanfest228 comments

Congrats to Jon and Chandan on the milestone. Pretty rare to see a company go from seed to unicorn in a single round! Anything particular you learned during that jump?

Excited to see how you and the team continue to build.

Thanks so much Aaron! Having amazing YC partners certainly helps.

The biggest learning for me has been the power of trust. Working with amazing people, partners, investors, etc. who are deeply trusted means that the friction of every task, project, job, launch, deal is much easier. A small decrease in friction at each small step of the way compounds into a faster and faster flywheel of momentum over time.

I recently realized what a big opportunity this is. Thousands of different cryptocurrencies. Staking, lending, and who knows what. Layers of wallets. And every person needs to do those taxes.

This company could be bigger than the entire tax prep industry combined. They could be the white label IRS for Switzerland or any country that ends up taking crypto taxes seriously.

Unfortunately they also are heavily disincentivized to lobby for bitcoin being a currency/not taxed, as they have a lot to lose there.

Two things:

1. We're hiring and would love to speak with you: www.cointracker.io/about

2. When crypto ends up being properly treated as a currency, it may take off in such a significant way that our portfolio tracking and other related products may drown out our tax business entirely

Thx for the reply keep up the good work

I hope when they’re huge in 5-10 years, they don’t go down the path of Intuit and lobby federal officials to continue taxing crypto the way it’s currently taxed as an asset.

Hope they increase the free tier! Would help them onboard more new customers.

Thanks for the feedback. We'd love your thoughts here as we think through this: https://feedback.cointracker.io/features/p/unified-pricing

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