U.S. crypto tax compliance startup Taxbit has raised $100 million in a Series A funding round led by investment firms Paradigm and Tiger Global. Paypal Ventures, Coinbase Ventures, and others including Bill Ackman, Ryan Smith, and Anthony Pompliano also joined the round. Taxbit chief executive officer Austin Woodward said the funds will be invested in the company’s enterprise tools as well as used to expand into Europe this year, with the U.K. as the first port of call. “One of the greatest financial innovations and disruptions of the last century, cryptocurrency, should not be weighed down by the complexities of tax and accounting,” Woodward said in a March 3 blog post . “Our products are removing some of the largest roadblocks of this emerging asset class. With the support of Paradigm, Tiger Global … we are excited to continue to scale world-class tax and accounting products so that cryptocurrency can continue to thrive among enterprises, consumers, and governments,” he added. F...
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