How Crypto Tax Calculator survived market collapse — twice
Today, Shane Brunette's Crypto Tax Calculator has 50 employees and a partnership with Coinbase. Seven years ago, it was seen as a joke.
One of Shane Brunette’s biggest breakthroughs came courtesy of the Australian Tax Office (ATO). In mid-2020, the ATO sent out hundreds of thousands of letters warning Australians to pay tax on gains made from cryptocurrency trading.
The warnings drove significant traffic to Crypto Tax Calculator, Brunette’s startup. The resulting growth enabled the company to raise capital in 2021. Today, the business employs 50 people across the globe.
Despite its straightforward name, the startup handles a highly complex task. Calculating tax obligations is relatively simple for those trading cryptocurrency on centralised exchanges like Coinbase — which, notably, is a client of Crypto Tax Calculator. However, it is far more challenging for the millions of “self-custodial” crypto traders who manage funds through personal wallets and trade on peer-to-peer decentralised exchanges.
These traders often use multiple tools across multiple blockchains, all of which must be meticulously accounted for.
