CoinTracker to Raise $1.5M Via Seed Funding

The financing was led by Initialized Capital, which was also one of the earliest investors of Coinbase
11 April 2018   924

Several well-known venture capital funds and private investors provided financial support to the startup CoinTracker. In total, within the seeding round of financing, the company raised $ 1.5 million, according to CoinDesk.

The financing was led by Initialized Capital, which was also one of the earliest investors of Coinbase. The project was also supported by the Y Combinator and the founder of Protocol Labs and FileCoin, Juan Benet. Another well-known investor of the project was the creator of the Gmail mail service Paul Buchheit.

I think one of things that appeals to some of the folks that are in the round is that we're taking this not well understood and confusing and complicated space and just making it super easy so that anyone interested in the space could get involved.

Chandan Lodha

Co-founder, CoinTracker

 According to him, the idea of ​​creating CoinTracker was born after he and his former colleague on Google John Lerner began to feel more and more sad with the available opportunities to track their crypto-investment. As Lodha confessed, for lack of suitable programs, at first they even used ordinary Excel spreadsheets to which all transactions were manually entered.

That works fine for the first 10 trades or when you have a very simple transaction history, but, over time, you start doing more trades or start having more exchanges or more coins - it gets very out of control.

Chandan Lodha

Co-founder, CoinTracker

As a result, after a series of experiments, not all of which were successful, the CoinTracker team came in a simple interface that combines all the crypto assets and transaction history of the trader and is synchronized with exchanges and wallet.

Also, developers have added a feature that allows traders to keep tax records - the new tool parses all transactions, then uploads them to the already filled in form 8949 for the US Internal Revenue Service.

Huobi to Launch Regulated Crypto Exchange

New entity will be focused on the institutional investors
07 December 2018   99

After obtaining a DLT license in Gibraltar, the Huobi cryptocurrency exchange revealed plans to launch a global infrastructure for clients.

According to Huobi representatives, the Gibraltar license gives the right to store and transfer cryptocurrency assets on behalf of clients all over the world. It will also simplify the exchange of fiat currencies for cryptoactives, according to a press release.

Our Gibraltar DLT license will allow us to open a fully-regulated exchange for our Global Institutional clients and retail clients alike, so this is a big win for Huobi and a very positive step forward for our global strategy. It's no secret that we think that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry. Among other benefits, our DLT license will allow us to open doors to more institutional investors who were previously unable or unwilling to get involved in an unregulated sphere.

Lester Haoda Li

Head of Global Institutional Business, Huobi London

In a press release, Huobi also notes that Gibraltar was the first jurisdiction to introduce a regulatory framework for the provision of technology services in a distributed registry.