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   1112

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.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   110

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.