TaxBit to acquire software startup Tactic to expand its crypto accounting services
Summary
This will help institutional customers deal with the process of tracking crypto transactions and prices for reporting, said TaxBit CEO Austin Woodward, which should help customers close their books in days instead of months. “At the time I thought, ‘Wow, we could play an active role here in helping things like this not happen again,’” Woodward said. The outlet reported that some of TaxBit’s customers faced slower growth or bankruptcy last year as a major downturn hit crypto markets. Still, Woodward said the company was not concerned about a prolonged Crypto Winter, having been founded during an existentially dire time for the industry in 2018. “We view this as an opportunity to double down on that, not just waiting for the macro environment to return or get better but play an active part in propelling that.” The company, which has dual headquarters in Seattle and Salt Lake City, has raised over $235 million since it was founded in 2018.
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