AUSTIN, Texas, Feb. 2, 2022 /PRNewswire/ --
CoinLedger (rebranding from CryptoTrader.Tax), a leading
tax-reporting platform geared toward assisting cryptocurrency,
DeFi, NFT, and Web3 users with simple tax reporting solutions,
announced today that it secured $6
Million in its latest financing round. This funding comes
from a growing list of strategic corporate and high-profile
individual investors, including CMT Digital, DRW Venture Capital,
FinTech Collective, Volt Capital, Voyager Digital Ltd. (TSX:
VOYG) (OTCQX: VYGVF) (FRA: UCD2), Adam
White (Co-Founder of Bakkt), and Mike Dudas (Founder of The Block). CoinLedger
plans to utilize the funds to scale its team further and expand
product offerings.
"As the cryptocurrency industry has evolved, the lack of simple,
user-friendly crypto tax and accounting software, specifically for
DeFi users, has become more than problematic," said David Kemmerer, CEO, and Co-Founder of
CoinLedger. "We continue to see a future where decentralized
cryptocurrency and digital asset use-cases become the norm, not
fringe activities amidst centralized exchanges. We're excited to
bring on such a strong group of investors who share our company's
vision and values."
The interoperable nature of cryptocurrencies and digital assets,
with transactions scattered across multiple wallets, exchanges, and
protocols, makes it extremely difficult for crypto investors to
keep track of their holdings and accurately prepare and pay their
taxes. CoinLedger's CryptoTrader.Tax solves this issue by
integrating with hundreds of exchanges, wallets, and blockchains.
Users can leverage the platform to gain a holistic view of their
crypto portfolio and tax obligations across the entire
Web3-economy.
"As a crypto investor, manually calculating your capital gains
and losses across potentially thousands of transactions leaves a
large margin for error," said Kim
Trautmann, Head of DRW Venture Capital. "The tax
reporting and portfolio management resources that CoinLedger
provides are critical for the crypto environment to continue to
scale and is the kind of technology DRW Venture Capital is excited
to work alongside as it continues to broaden its crypto tax
services."
About CoinLedger
CoinLedger (rebranding from
CryptoTrader.Tax) enables seamless portfolio tracking and tax
reporting for participants of the digital asset economy. Founded in
2018, CoinLedger was built to reduce the friction of participating
in the cryptocurrency ecosystem by making tax reporting as simple
as possible. By directly integrating with major exchanges, wallets,
blockchains, and NFT platforms, CoinLedger provides a unified
dashboard for users to track and monitor their cryptocurrency
activity. Whether you're trading cryptocurrencies, buying and
selling NFTs, or staking on DeFi protocols, CoinLedger makes
tracking your portfolio and reporting your taxes more
straightforward than ever. For more information, visit
https://cryptotrader.tax/world-meet-coinledger.
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SOURCE CoinLedger
