Libra Raises $500k to Expand Bitcoin Tax Compliance Solutions
Libra announced it has raised $500,000 in a new seed round led by New York-based, seed-stage investment fund Liberty City Ventures. The round, which coincides with the formal launch of its IRS-compliant accounting software LibraTax, also included participation from Raptor Ventures managing director James Pallotta and former Facebook software engineer and current BitGo CPO Ben Davenport. Speaking to CoinDesk, Libra CEO Jake Benson indicated that the company intends to use the funds to build around its core product, creating a wide range of solutions for businesses and certified public....
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LibraTax, a Bitcoin tax compliance solution for businesses, recently closed a $500K USD seed funding round. LibraTax's seed funding was headed by Liberty City Ventures; other seed funders include Raptor Ventures' managing director James Pallotta and BitGo CPO Ben Davenport. LibraTax's CEO Jake Benson envisions building a core product for Bitcoin tax compliance with the raised funds. Bitcoin businesses and certified CPAs need to be able to interface easily in order for Bitcoin to succeed in the mainstream. Also read: LibraTax Opens to the Public. Bitcoin Tax Nightmare Just Got Easier. When....
Libra is officially launching their first product today, LibraTax, which aims to be an all-in-one solution for individuals and businesses looking to simplify tax obligations when it comes to digital currencies. Up until now, LibraTax has been in beta, and the service provides users tools to be in compliance with Internal Revenue Service (IRS) requirements, and also from governments around the world. Also of interest, LibraTax integrates nicely with Coinbase and Blockchain wallets, making it easy to import transactions and calculate what is owed to tax authorities comes tax season. In....
PwC US FinTech lead Jeremy Drane has officially left the 'Big four' firm to serve as chief commercial officer for blockchain startup Libra. Formerly a startup offering tax compliance and reporting software to bitcoin users, the moves comes amid a transition at Libra that finds the startup seeking to establish itself as a "management information layer" for blockchain technologies. In accordance with this goal, Libra used the announcement to highlight other recent hires from the enterprise finance sector, noting its COO Dave Albert was formerly with BNY Mellon, while VP of product....
Staying on the right side of the taxman just got a bit easier for businesses dealing with bitcoin and other digital currencies. On Tuesday, Libra, makers of LibraTax accounting service, introduced two new products in their suite of tax-reporting services. They also announced a new partnership with Bitpay, the world's largest bitcoin payment processor, designed to help merchants stay on top of their bitcoin-related payment transactions. Libra Business and Libra Pro. LibraTax has been offering tax-reporting solutions and helping to educate accountants and tax professionals with digital....
The recent controversy surrounding the memecoin Libra (LIBRA) has sparked significant global attention, particularly following revelations about its alleged ties to prominent political figures and “questionable business practices.” According to reports from The Big Whale, the team behind Libra was allegedly developing a parallel memecoin project in Nigeria and had established contact with the Nigerian […]