Y Combinator Startup Podcast How to Survive the Crypto Boom & Bust Cycle | Main Function
Nov 16, 2024
Chandan Lodha, co-founder of CoinTracker, shares his insights from navigating the crypto landscape, which has seen countless fluctuations. He reveals how they built their portfolio management tool to aid users in managing tax compliance during market volatility. Chandan discusses the vital importance of communication and partnerships in overcoming challenges during bear markets. He emphasizes user-centric development that helped CoinTracker adapt and thrive during a crypto winter, showcasing the resilience needed in this ever-evolving industry.
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CoinTracker's Crypto Origins
- Chandan Lodha and John, his co-founder, initially explored fintech outside crypto.
- Frustration with traditional finance's slow pace led them to crypto in 2017.
Crypto's Ebb and Flow
- CoinTracker's journey is intertwined with crypto's boom-bust cycles.
- These cycles create unique challenges, with high growth periods followed by 'dead' periods.
Near-Death Experience
- In 2020, CoinTracker faced potential closure due to funding issues.
- Open communication and a long-term vision helped them overcome this challenge.