Coinbase x Summ: Clarity for the 1099-DA era
We’re proud to partner with @Coinbase again this year as 1099-DA reporting rolls out across the US.
Form 1099-DA is a meaningful step forward. Brokers like Coinbase now report crypto proceeds directly to the IRS.
But it’s still only part of the picture.
A 1099-DA shows what happened on one platform.
It doesn’t capture activity across other exchanges, wallets, or most on-chain movement.
Once crypto moves, the picture fragments. That’s where Summ comes in.
@CryptoTaxSucks@CryptoTaxSucks We were bootstrapped for 3 years and took on a relatively small fundraising round in 2021. It was more about getting the right people meaningfully involved for our next phase of growth, rather than 'needing' the capital. Agree, $$$ !== success.
@souljaboy It's a way of baking "if this then that" rules onto the blockchain so they can't be censored and are guaranteed to run as per what the code states.
@LidoFinance We run into ticker clashes all the time at https://t.co/OncGtFRrT0 - maybe we should just stop after (26 + 9) * 3 * 2 possible permutations of tickers and never have any future development on the blockchain 🤔😅