From Niche to Necessity: Tax & Accounting for Web3 and Digital Assets S3E1 - Simplifying Tax and Accounting for Crypto Assets with Chandan Lodha
Feb 5, 2025
Chandan Lodha, co-founder of CoinTracker and former Google product manager, shares insights into the evolution of crypto tax management. He discusses how CoinTracker transformed from a personal project to a vital tool for over 2.5 million users. The conversation dives into the complexities of crypto tax reporting amid changing regulations, innovative features for compliance, and the importance of user education. Lodha also highlights the challenges of navigating the dynamic landscape of digital assets and the vital role of accurate documentation in simplifying tax compliance.
AI Snips
Chapters
Transcript
Episode notes
CoinTracker Origin Story
- Chandan Lodha co-founded CoinTracker to solve his own crypto tracking pain point.
- Managing crypto transactions in spreadsheets was too complicated and chaotic for him.
Crypto Complexity Evolution
- Crypto transaction complexity exploded with DeFi, NFTs, and layer 2 solutions.
- CoinTracker had to rebuild its platform to support diverse and sophisticated crypto activities.
DeFi Summer Chaos
- During DeFi Summer, CoinTracker faced a flood of support tickets due to chaotic new transaction types.
- Chandan personally handled manual fixes amid user frustration on social channels.