The Accountant Quits Podcast
The Accountant Quits Podcast is aimed at finance professionals who want to move into the Web3 space, offering practical knowledge for accounting, treasury, and finance positions at crypto-native companies. Each episode features conversations with practitioners who build and run finance teams in Web3, sharing real-world insights. The show also promotes the Crypto Accounting Academy and Crypto Treasury Management Academy, which provide structured learning for a global community of finance professionals.
Episodes
#114: Agentic Neobanks with Reah
Jacob Margulies is the Co-Founder at Reah, a financial operating system that unifies fiat banking, digital assets and AI-powered execution in one platform.It provides global bank accounts, payments, treasury, cards and invoicing for businesses worldwide, all governed by one programmable policy engine.And Reah describes itself as non-custodial. Customers have complete control of their assets, and R
#113: Real-Time Verification for Digital Assets with Accountable
Accountable allows institutions to prove their assets and liabilities in real time, and privately, without revealing their API keys, wallet addresses or trading strategies.That's their Data Verification Network.It might just be the missing trust layer that finally convinces the masses to adopt blockchain technology.To date, they've verified over $2 billion in onchain assets across 60+ part
#43: Geeth Jay from Cryptoworth on Data Complexities with On-Chain Transactions
Even if it’s relatively straightforward to export transactions from block explorers, how do you know for a fact that the data is complete and accurate?Block explorers have not been designed for accounting purposes, and turning the complexities of on-chain transactions into an enterprise grade data for your accounting is quite a challenge.Cryptoworth provides the operating system to convert the com
#112: MiCA Compliance in Europe.. What you NEED to know
MiCA's transitional deadline closed on July 1st, 2026.Some of the biggest names in the industry lost the ability to serve European clients overnight.But one jurisdiction rose to become a MiCA licensing hub: Malta.It's now ranked 4th for CASP (Crypto Asset Service Providers) authorizations, and 2nd for Other Crypto Assets.In this episode, we spoke with Joseph Axisa, Managing Partner at Axis
#111: Becoming a Web3 CFO with Daniel Lian from fomo
Daniel Lian has built 3 crypto finance functions from scratch: at dYdX Labs, Walrus Foundation, and now fomo. Same job title, three completely different setups.At dYdX Labs, he was the first finance hire, building treasury from zero. At Walrus Foundation, it meant a multi entity foreign structure including a Cayman Foundation, a token airdrop, and grant programs. Now at fomo, who recently fundrais
#110: Onchain Analytics for Compliance with Provenance
Onchain analytics splits into two buckets: Research & Reporting (Dune dashboards, DeFi volume, DAO treasuries) and Risk & Compliance, which layers on attribution (naming wallet clusters) and risk scoring (sanctions, AML exposure) using tools like Chainalysis, TRM Labs, and Elliptic.This episode focuses on the Risk & Compliance side with Leopoldt Jansen Van Vuuren, Head of Onchain Analy
#109: CFO as a Service with the ex CFO of Tezos Foundation
Roman Schnider spent 15 years at PwC, where he helped build their blockchain assurance practice back in 2016.In 2019, he became CFO of the Tezos Foundation, managing one of the largest crypto treasuries in the industry, over $500 million in fiat, BTC, and XTZ.In 2023, he left to launch inandon, a Swiss firm offering CFO as a Service, accounting, and compliance to web3 companies. And in 2025, he se
#108: Real World Assets Tokenization with Duke Kim from Securitize
Securitize’s mission is to tokenize the world. With over $4 billion in AUM, they're the global leader in real-world asset tokenization, and their client list speaks for itself: BlackRock, Apollo, Hamilton Lane, and VanEck.Now they've partnered with the New York Stock Exchange to tokenize stocks.In this episode, I sit down with Duke Kim, Director of Institutional Solutions at Securitize Fun
#107 - Web3 Directorship Services with Petri Basson from Hash Directors
Most web3 founders appoint a director without truly understanding what that person is signing up for. Get it wrong, and it's not just a governance problem, it's a personal liability problem.Petri Basson, Founder of Hash Directors, has sat on foundations, non-token web3 projects, and crypto funds across the Cayman Islands. In this episode, he breaks down exactly what a director is responsib
#106: Web3 Fractional CFO and Directorship Services (With the Ex Head of Finance at Safe)
Token launches aren’t just hype, they come with tough decisions around valuation, post TGE treasury management, choosing market makers, and legal structures (Foundation and Token SPV)In this episode, Kevin Leuthardt (Founder of threek advisory, Fractional Web3 CFO and expert director, and former finance lead at Arweave, Safe, and WalletConnect) shares what really happens behind the scenes from TGE
#105: Crypto Asset Management & Fund Accounting with Damon Xu from 1Token
Crypto funds trade across exchanges, wallets, custodians, and DeFi protocols.Trading may be easy but reconciling everything isn’t.In this episode, I speak with Damon Xu, Founder & CEO of 1Token, about the infrastructure behind institutional crypto asset management.1Token is a SOC 2 certified platform used by crypto funds and asset managers to manage portfolios, risk, and reporting across CeFi
#104: The Modern CFO Stack: Stablecoins & Yield with Stepan Simkin from Squads & Altitude
Your CFO is not your CTO, and in web3, confusing the two can cost you.After scaling Squads into the leading multisig on Solana (securing $12B+ in digital assets), Stepan noticed something surprising: teams were using multisigs as their business bank account.Self-custody? YesOperational efficiency? Not quite.And that gap led to Altitude.Altitude is a stablecoin-native finance platform combining pay
#103: Starting a Crypto Accounting Firm with Mackenzie Thota from Hash Basis
If you’re in a stable 9-to-5 job and thinking, “In 2026, I want to start my own crypto accounting firm” , this episode is for you.Starting an accounting practice isn’t just about technical skills. One of the first and most important decisions you’ll make is choosing your niche, and in crypto, that decision shapes everything that follows.My guest is Mackenzie Thota, Founder of Hash Basis. At only 2
#102: Navigating Web3 Treasury with Rohit Goel from Protocol Labs
Treasury management is one of the most foundational, and least standardized functions in web3.As organizations operate across fiat, stablecoins, and native tokens, treasury teams are no longer just tracking balances. They’re responsible for protecting liquidity, managing financial risk, designing governance and internal controls, and ensuring the organization can operate and survive long-term.Rohi
#101: Web3 Fundraising with Max Torres (SAFE, SAFT)
Fundraising in web3 isn’t just web2 with a token attached.On Episode 101, we break down what actually changes when you introduce tokens, interoperability, decentralization, and community ownership into the funding model.I’m joined by Max Torres, Managing Partner at Taco3 Ventures and former Head of Finance at 0x Labs, where he helped raise $85M across Series A & B.✅ OUR RESOURCES🌐 Join a globa
#100: Operational Security for Onchain Treasuries with Safe (prev. Gnosis Safe)
Operational security is becoming the biggest priority in crypto, here’s how top teams protect their onchain treasuries.Safe is the gold standard for smart contract wallets, securing over $60billion for organizations like the Ethereum Foundation, Optimism, Polygon, Chainlink, Morpho, and ENS.In this episode, with Shebin John, Research Engineer at Safe Research, we explore how they’re building the n
#99: Institutional Crypto Trading & Yield with Bo Zhang from Function
Why are so many Web3 projects with massive treasuries not doing active treasury management?That’s the question we explore in this episode with Bo Zhang, COO at Function: a project building the rails that allow Bitcoin to actually function: liquid, composable, and yield-generating.Together with Bo, we dive deep into the intersection of institutional trading & token management, treasury manageme
#98: Managing Ops for a Web3 Foundation (Everclear) with Max Kalyuzhnyi
Max Kalyuzhnyi, Head of Operations at Everclear Foundation, shares his journey from Big4 audit to web3 finance. We cover token migrations, fundraising, vibe-coding, and the tools he uses for web3 ops, from Toku & Sablier to Integral, Rain, and Dakota.✅ OUR RESOURCES🌐 Join a global community of web3 accounting & finance professionals - https://app.theaccountantquits.com/ 🤓 Join th
#97: Building the Digital Assets Audit Department at Deloitte France
Deloitte has been on the front lines of digital assets, working with exchanges, custodians, stablecoin issuers, and enterprises to bring crypto into regulated finance.In this episode, I’m joined by Jérémy Stevance, Manager on Deloitte France’s Digital Assets Team, who has spent the last four years building their crypto audit practice. He’s worked with Web3 leaders like Circle, Binance, and Crypto.
#96: Building an Enterprise Grade Crypto Accounting Software with Kryptos
Should a crypto subledger do more than just bookkeeping and reporting?Kryptos began as a retail-focused crypto tax tool. Today, it has evolved into an enterprise-grade accounting platform, offering not just bookkeeping, but also treasury management, token vesting, payroll, invoicing, audits, and even proof-of-reserves.On Episode 96, we spoke with Sukesh Tedla, CEO of Kryptos, to discuss their leap
#95: Navigating Web3 Operations with Sarah Luehrs from Union Labs
Navigating Web3 operations isn’t always glamorous.While developers are busy building, someone needs to ensure the machines run smoothly behind the scenes.Sarah Luehrs is the COO at Union Labs, and she pulls back the curtain on what it takes to navigate web3 operations and scale a remote-first team.✅ OUR RESOURCES🌐 Join a global community of web3 accounting & finance professionals - https://a
#94 - Stablecoin Issuance Regulation with Legal Nodes (GENIUS Act v/s MiCA)
Ep. 94 dives into the newly signed GENIUS Act and what it means for stablecoin issuers. I’m joined by Nestor Dubnevych (Legal Nodes) to unpack its impact on licensing, compliance, and cross-border operations. We also cover global regulatory trends and what teams need to know when building crypto payment products.✅ OUR RESOURCES🌐 Join a global community of web3 accounting & finance professional
#93: Asset Management & Financial Reporting for DAOs with Jack Gale from kpk (formerly karpatkey)
kpk is redefining crypto treasury management with secure, transparent, fully on-chain systems. In this episode, I speak with Jack Gale, core contributor at kpk (formerly Karpatkey), managing over $1.8B for top DAOs like Gnosis, Aave, ENS, and dYdX.We dive into why an Investment Policy Statement (IPS) is essential for DAOs, how kpk builds trust with crypto-native reporting, and a case study with Be
#92: Web3 Incorporation in Panama (A Legal Guide)
Web3 is global, but where you set up your company matters. One growing hotspot is Panama.Panama doesn’t have specific crypto laws yet, so Web3 projects don’t need special licenses. It’s unregulated, but still legal. Plus, there’s 0% corporate tax on foreign income, making it a great place for innovation.To break it all down, I’m joined by Edgar Young, Partner at Pacifica Legal, a firm that’s helpe
#91: DeFiBank for Enterprises with Jozef Vogel, COO of EtherFi
Banking has always been about trust and control. Neobanks upgraded the user experience, but the system remained centralized.Now, we’re in the third wave: DeFi banks, a non-custodial, blockchain-based, and fully user-controlled.Leading this shift is EtherFi, offering a seamless way to save, earn, and spend without traditional banks. Think fiat on/off ramps, asset deployment into BTC, ETH, stables,
#90: Token Launch & Valuation with Neil Thakur from Teknos Associates
In practice, token launches are often delayed, and that can slow down the entire roadmap of a web3 project.Once there’s a traded price for a token, it’s difficult to walk it back. Post-launch valuations are often magnitudes higher than pre-launch ones. That’s why valuation reports have a limited shelf life, and why getting it right matters.My guest is Neil Thakur, Managing Director and Founding Me
#89: A Legal Guide for Token Launches with Jonathan Turnham from NXT Law
Before a token hits the market, founders face complex legal and tax decisions that can make or break their project.Where to incorporate? What type of token to issue? How does your personal residency affect taxes?On Ep. 89, I’m joined by Jonathan Turnham, Managing Partner at NXT Law, who’s helped launch over 350 Cayman Foundations and advised crypto projects since the ICO era.If you're involved
#88: Fund Accounting for Digital Assets with MG Stover & Otto
The investment fund industry is massive, spanning everything from mutual funds and hedge funds to private equity and ETFs. But something’s changing.Finance is shifting from slow, opaque off-chain transactions to fast, transparent on-chain finance. Tokenized funds are here, with institutional AUM now over $470 million (rwa.xyz).Leading this evolution is MG Stover, managing $40billion+ in digital as
#87: The Future of Crypto Accounting with Chandan Lodha from CoinTracker
Tokenization is hitting an inflection point, with $4–5 trillion in digital securities expected by 2030.Crypto accounting has come a long way from the Wild West days, but challenges remain for crypto accountants.Regulators and accounting bodies are stepping in, and a real crypto finance stack is finally emerging.On Episode 87, I'm joined by Chandan Lodha, Co-Founder of CoinTracker, who’s helped
#86: Launching a Fractional Web3 CFO Practice with Nauman Mustafa from Celo Foundation & HashLedger
Fractional leadership is booming, especially in web3.Startups can tap into C-suite expertise without the full-time salary. But once VC money hits, if your financial ops aren’t solid, you’re not scaling, you’re stalling.Enter the Fractional CFO: a strategic partner handling fundraising, treasury, and audit readiness.In this episode, I chat with Nauman Mustafa (Managing Partner at HashLedger & C
#85: Onchain Treasury Allocation with Octav
In traditional finance, Treasury Management is a well-documented practice with plenty of guidance and literature. But in web3, many of those concepts don’t quite apply.Foundations, DAOs, and other web3 startups often hold their treasuries in wallets, with those assets remaining idle.But by strategically allocating part of their treasury to generate yield, these organizations can create an addition
#84: Building an Enterprise Crypto Accounting Software with Cryptio
Crypto sub-ledgers have evolved from their early days when they would only be required to categorize onchain transactions and calculate the realized gain/loss under the appropriate cost basis method.To satisfy their existing customers and bring new players into the industry, sub-ledgers have to adapt to new requirements from local GAAP & IFRS, and regional regulatory requirements like MiCA in
#83: Yield Bearing Stablecoins with Coinshift
The extra steps needed to tap into DeFi protocols often intimidate web3 companies from putting idle capital to work.Many of these companies hold large amounts of stablecoins like USDC and USDT, sitting idle and earning no yield.Since the start of 2025, Coinshift has been redefining how users earn passive income on stable assets through their liquid lending token, csUSDL, backed by U.S. Treasury Bi
#82: Managing Data in a Multi-Blockchain World with Noves
As the number of new blockchains and protocols continues to surge, accountants face an increasingly complex challenge in reconciling on-chain data.
With no universal standard for blockchain data, and significant variations in how different chains operate, the task becomes even more daunting.
Accountants are not engineers, they rely on tools like sub-ledgers and tax tracking platforms to handle cr
#81: Digital Assets Tax Updates for 2025 with RSM US
Donald Trump’s presidency is stirring up buzz in the web3 communities.
Builders and users alike are optimistic about how the new administration could shape the future of digital assets, with promises of clearer regulations and greater adoption of cryptocurrencies on the horizon.
But while we wait for these changes to take effect, there are already some major tax updates you need to know.
To help
#80: 2024 Wrapped - plus new courses & upgraded community for 2025
In this special New Year's episode, I’m pulling back the curtain on what The Accountant Quits has been up to in 2024 and giving you an exclusive preview of what’s ahead in 2025.
I’ll dive into the milestones we’ve hit, from the Crypto Accounting Academy’s relative success to the launch of the Crypto Accounting Accelerator. Plus, I’ll highlight the growth of our weekly newsletter, the debut of our
#79: DAO Services in the Cayman Islands with Karel Olivier from Lemma
One school of thought argues that DAOs should avoid any legal structure and remain unregistered in all jurisdictions.
But having a legal entity allows the DAO to engage in contracts with other real-world entities, and perhaps the biggest of all,
A legal entity protects the individual participants of a DAO from unlimited liability.
One structure that has gained popularity is the Cayman Islands Fou
#78: Becoming a Web3 CFO with Zac Hogg from Solana Foundation
A recurring theme among the CFOs I've interviewed is their common starting point: a lot of them started out at the Big4 accounting firms.
I call these places boot camps for accountants - you’re surrounded by some of the brightest minds in accounting, working on massive clients, and the name on your resume alone gets people to take you seriously.
Yes, the hours are grueling, and the starting pay is
#77: Building a Crypto SaaS with a Two-Person Team with Bassil Eid & Selem Essaied from Breezing
For the past 2 years, downsizing has been rampant across the board at companies embracing AI.
According to Techcrunch, in 2024 alone, there have been more than 130,000 job cuts across 457 companies, from tech giants like Google, Salesforce, Dropbox, Microsoft and Consensys.
If existing companies are slashing their workforce, the new startups are also leveraging AI to build a lean workforce.
For
#76: Crypto Powered Neobank for Businesses with Ryan Bozarth from Dakota
With traditional banks, it takes days to move your money, they offer little to no yield, and worst of all, they can freeze your account without warning.
Also, you no longer control your assets once deposited - they become liabilities on the bank’s balance sheet. That means if things go wrong, your best hope is a bailout.
We’re currently ushering into a new era of banking, one powered by stablecoin
#75: Becoming an Entrepreneurial Crypto Accountant with Patrick Camuso
If you’re a technical accountant who’s also bringing in new business for your company, I have to ask - why haven’t you started your own firm yet?
Yeah, the idea sounds terrifying at first. You’re stepping out of the cozy safety net of a guaranteed paycheck.
But if you’ve got grit and the guts to be an entrepreneur, why keep waiting? Sure, it’s hard work, but in the end, it’s worth every ounce of
# 74: Token Compensation & Tax Compliance, with Dominika Stobiecka from Toku on
Many projects in web3 label themselves as payroll products when they’re payment products.
If you’re looking for a crypto payroll provider, an important prerequisite should be that they know how to handle the following;
Calculate tax withholdings,
Run social security deductions,
File taxes for employees
Platforms like Deel, Oyster, or Remote.com allow you to have access to a global pool of ta
#73: Jeremiah Smith from OpenCover on DeFi Insurance
Since 2017, over $8billion has been lost on-chain due to smart contract hacks, infrastructure issues and rugpulls.
The figure becomes even larger when you count phishing attacks and scam coins.
Yet today the vast majority of on-chain transactions and protocol positions aren’t protected… for example if you look at DeFi current TVL which is around $80billion, there is only about $100m which is cover
#72: Audit & Attestation Tools for Digital Assets with Jeremy Nau from LedgerLens
As the world moves “on-chain,” so too will the need for auditors.
With auditors naturally evolving their practices from periodic paper reporting, to digitally native, API-enabled, Oracle-ready, and real-time reporting.
But how do auditors bridge the gap and how can the auditing industry as a whole remove the technical barriers to entry?
Enter LedgerLens, a platform made for auditors, by auditors.
#71: Internal Controls for Digital Assets with David Byrd from EY
When it comes to internal controls, management is responsible for designing, implementing, and maintaining effective internal controls.
Auditors on the other hand would test for the operating effectiveness of these controls.
Many auditors today lack the specialized expertise needed to provide assurance for companies holding digital assets, but if we are rooting for cryptocurrencies to become mai
#70: Financial Reporting for DAOs with adcv from Steakhouse Financial
There is no current standard framework on how transactions within DAOs should be structured and accounted for.
Transactions on the blockchain or so-called block explorers are cash-based and do not comply with accrual-based accounting.
Today many companies having on-chain transactions use crypto sub-ledgers, but the essence of DAOs is to reduce the financial asymmetry of information and instead of
#69: MPC wallets for digital assets operations with Bentzi Rabi from Utila
In its early days, businesses used crypto mainly for trading.
However, more use cases have emerged in recent times.
Making payments with crypto as we all know is lightning fast, but businesses utilizing self-custodial wallets need a full-fledged infrastructure with advanced customization.
For example, managing user permissions and roles, creating approval workflows, and having quick integrations w
#68: Crypto Payments for a Globally Distributed Workforce with Hugo Finkelstein from Rise
Can crypto payments accentuate the trend for a globally distributed workforce?
More and more people in emerging markets such as freelancers are using crypto to get paid, and having crypto as a payment option enables people to get employed anywhere in the world.
So if you as an employer want to have the best talent globally, using crypto as a means of payment seem to work hand in hand.
One compa
#67: Getting Ready for MiCA with Anne-Grace Kleczewski & Anne-Lorinne Mognetti from MME
The deadline for new crypto regulation in the EU, termed the Market in Crypto-Assets (MiCA) is fast approaching, and many are wondering - What exactly does MiCA entail, and how can you prepare for it?
For starters, MiCA applies to a broad range of entities providing services related to crypto, including exchanges, custodians, wallet providers, brokers, investment firms, and more.
There are two key
#66: Becoming a Web3 CFO with Greg Mocnik from Celestia Labs
A recurring theme among the CFOs I've interviewed is their common starting point: many began their careers at top accounting firms, such as the Big4.
And the benefits of working for them are not insignificant - you are often surrounded by the brightest minds in accounting, work with some of the biggest clients, and your experience commands respect.
Despite the long hours and relatively low initi
#65: Statement of Digital Assets (SoDA) with Samuel Leichman
Blockchain technology is open source right, but to advance the development of accounting standards for digital assets, we need accounting bodies to be more open for collaboration in these changing times.
This revolution cannot take place in an ivory tower.
A group of accountants at Propeller Industries have answered the call, and are pioneering a new reporting methodology for digital assets, thr
#64: CFO's Guide for Tokenomics with Roderick McKinley
The tokenomics is the catch-all of the elements that make a particular crypto project particularly valuable and interesting to investors. That includes everything from its initial minting process, the token’s supply, and what utility it has.
Understanding tokenomics is crucial for making informed investment decisions. A project with well-designed incentives for buying and holding tokens is more li
#63: Crypto Technical Accounting (SAFT, Derivatives, Staking, Stablecoins) with Andrei Belonogov
Digital assets and their underlying blockchain technology are an evolving area, and as such accountants frequently face the daunting challenge of scrutinizing existing accounting standards to derive the most reasonable interpretation.
Innovation outpaces the speed of accounting regulation, leaving standard-setting bodies like the FASB for US GAAP or the IASB for IFRS struggling to keep pace.
Whils
#62: Global Crypto Payroll through EOR Model with Nabin Banskota from Niural
COVID has changed the game for companies hiring internationally.
Previously, if an employer didn’t have an established business, or a legal entity in the jurisdiction where the foreign worker lived, often their only option would be to hire the worker as an independent contractor.
Companies couldn’t hire full-time employees and were thus unable to grant health insurance, pension, and other benefit
#61: Becoming a Web3CFO with Léopold Wenger from Cometh
If you’ve previously worked as an accountant or auditor at a Big4 or other accounting firm, you’ve been through a rigorous & highly sought-after working methodology and have a huge boost on your resume.
You’re now equipped to get your foot in the door of most firms looking to hire a Financial Controller, Head of Finance, or even a CFO.
Being a product of Big4 myself, I have no regret looking
#60: Enterprise Accounting Software for Crypto & Fiat with Request Finance
A finance technology stack is the set of tools that a business uses to streamline and optimize its financial and accounting processes.
These tools and software typically fall into categories like payments, payroll, spend & expense management, accounting & reporting, financial planning, and analysis.
Until now, web3 teams have had a fragmented finance stack, thereby increasing the manual wo
#59: AI & Blockchain for Accounting with Kareem Khattab from Entendre
Blockchain at its core allows the transfer of value without an intermediary and offers an immutable ledger that provides real-time access to financial data while AI-based applications can be used to analyze financial data, and automate repetitive tasks like data entry,
A powerful combo for accounting.
We’re on the brink of a fundamental transformation and the impact on the accounting industry wil
#58: Company Formation for Web3 Startups & DAOs with Han Verstraete from Otonomos
Anyone who decides to build a project in web3 involuntarily accepts to have to surmount heaps of legal challenges, to be legally compliant.
Many web3 businesses are borderless and this places a big regulatory burden, especially for those in their very early days.
Whether you are a centralized or decentralized project in web3, planning to issue tokens, finding the appropriate legal structure for y
#57: Web3 Treasury Management with Nik Pletikos from DeFiWaves
While there is a lot of guidance and literature on Treasury Management in traditional finance, in web3, a lot of those concepts don’t apply.
Managing treasury fiat currencies in traditional finance largely involves managing banking partners whereas with cryptocurrencies, that involves managing your wallet addresses in the event you’re using self-custodial wallets.
Many web3 firms do not have a d
#56: Becoming a Web3 CFO with Shivani Phull from Pixelynx
Choosing accounting as a career path seems to be losing some of its prestige in recent years.
Technologies like AI and blockchain will not take the accountants’ jobs but rather, it’s those accountants who have upskilled themselves on blockchain who will.
So rather than being seen as a threat, many accountants are evolving with blockchain.
On Episode 56, I spoke with Shivani Phull, the VP of Fin
#55: US GAAP Fair Value Accounting for Crypto with Mackenzie Patel from Hash Basis
The 2 words on every crypto accountant’s lips these days are fair value.
Until now, crypto assets had to be measured at initial cost and could not be revalued at its market price.
To make matters worse for investors, they were also subject to an annual impairment review, and any subsequent gains in the value of the asset could only be realized at the time of disposal.
In December 2023, the FASB
#54: Crypto Taxation in the US with Aryeh Munk & David Zareh from OnChain Accounting
Are you as a company contemplating using crypto assets in your business? Be it for investment purposes or rather in your daily operations?
The 1st advice irrespective of the jurisdiction you’re in, is to speak with a qualified tax advisor.
Once you understand the crypto inflows and outflows, you can also determine the character of income of your crypto.
Which fall under 2 buckets - ordinary inc
#53: Getting Crypto Companies Audit Ready with Marnus Kruger & Chris O'Reilly from Harris & Trotter
An external auditor is appointed to provide an independent examination of the financial statements to ensure they provide a true and fair view.
And in return provide the confidence to stakeholders that management is doing their job well.
Auditors proceed by testing the internal controls and performing substantive tests.
What substantive tests mean is that auditors have a range of assertions, su
#52: Launching the Crypto Accounting Academy
The Crypto Accounting Academy is a 6-week course, brought to you by experts in the web3 industry, to give you the practical knowledge of running a business on crypto.
After the course, you will be equipped with the knowledge to be hired at a web3 company as an Accountant, Financial Controller and/or CFO.
Learning crypto accounting by yourself involves months of frustration, as having an underst
#51: Subscription Billing with Fiat & Crypto with Bisola Asolo from Super
If a business has a subscription pricing model and wants to accept both fiat & crypto as payments, that would mean using a combination of fiat and crypto payment gateways.
For example, Stripe works for fiat, and Coinbase Commerce works for crypto payments.
The issue here is that the merchant has to manually reconcile payments flowing through these 2 payment gateways, and so far a unified web
#50: Tracking DeFi & TradFi Transactions Simultaneously with Tal Zackon from Tres Finance
The theme of this episode is tracking DeFi transactions, and providing the CFO managing their crypto treasury with how to generate a historical report of their DeFi positions, with their realized & unrealized gains/losses, interest income & losses & rewards earned.
If you’re not using a dedicated crypto tool, and having to manually retrieve the data from inspection tools, like block e
Episode 49 | Tarun Gupta from Coinshift on Transforming the Multi-Signature UX through Safe for simplifying Treasury Management
While Safe (previously Gnosis Safe) has become the gold standard for self-custodial wallets, anyone listening who has previously used Safe, which requires the approval of more than one user for transaction execution, would often say that the user experience is sub-optimal.
Some of the examples of the recurring pain points using a Safe alone for approving multisig transactions are that only the sa
Episode 48 | Jozef Vogel from Ether.fi on Becoming a Web3 CFO
This is the 2nd episode of a new series I started called ‘Becoming a Web3 CFO’ - where I dive into the inspiring stories of accounting & finance professionals who transitioned from traditional finance to web3.
In Episode 48, I speak with Jozef Vogel, the newly appointed VP of Finance and Operations at Ether.fi, a decentralized non-custodial ETH staking protocol.
And previously Jozef had bee
Episode 47 | Mo Yang from Fuel Labs on Becoming a Web3 CFO
The ‘Becoming a Web3CFO’ Series, is where I dive into the inspiring stories of accounting & finance professionals who transitioned from TradFi to web3.
In this series, we explore their unique experiences, challenges, motivations, and career advice.
The reason I started this podcast was to inspire and prepare accountants for blockchain. If people with similar roles at similar companies have su
Episode 46 | Charles Naut from Rain on Crypto Corporate Cards
Many web3 projects have a significant portion of their treasury in crypto, and paying for expenses like travel bills, SaaS tools subscriptions can be a headache as offramping often comes with friction points.
Having spoken to a few founders in web3 startups & DAOs, often times these teams would rather pay for such expenses using their personal accounts, and then later get reimbursed.
But tha
Episode 45 | Chuck Cummings from Bankless Consulting on BUIDling a Web3 Consulting Firm
Whenever I speak to people who are currently working or have worked in large accounting, investment and consulting firms, there is a recurring pattern I hear.
The distribution of wealth is heavily skewed towards those in positions of power and authority, that is the partners of these firms
Besides the disproportionate gap in remuneration, the people down the hierarchical ladder do not enjoy as muc
Episode 44 | How to become a Crypto Accountant (Best of episode)
If you’ve never listened to this podcast, this will be a good intro on the impact of blockchain in accounting.
After recording 43 episodes, I thought it’s high time that I revisit some of the content and share the best best bits on what’s this podcast all about - helping you become a web3 accountant.
You know even if the name of this show is called The Accountant Quits, it’s not about me quitting
Episode 42 | Eleni Steinman from Loop on Crypto Autopay (subscriptions, payroll)
The autopay function is prevalent in TradFi - think about all instances where payments are automated, like your subscriptions , loan repayment, salaries, utilities payment, credit card repayment.
Having to manually approve such recurring payments would be a headache for you.
Today in the web3 space, projects having a subscription pricing model have a tough time automating these recurring payments
Episode 41 | Megan Knab from Franklin on Tax Compliant Web3 Payroll
If you’re an employee receiving your net salary at the end of the month, there is a series of financial operations that your employer must address.
Starting with your gross salary, there is a string of deductions like taxation, pensions, social security, medical insurance before arriving at your net salary - the actual funds that get credited in your bank account.
If you’re a company seeking to
Episode 40 | Jacob Kobler from Consola Finance on Crypto Bookkeeping
If you are contemplating to run your business on crypto rails, the framework for your bookkeeping is a combination of traditional and crypto native accounting softwares.
Like any traditional business, you will need a traditional ERP solution softwares like Quickbooks, Xero, Oracle NetSuite being used as your Main Ledger.
And a specialized crypto accounting software to be used a Sub ledger -
Episode 39 | Robin Ji from Liquifi on Token Based Compensation
In order to allow you to hire and retain the best talent to build your web3 company, having a sound token based compensation is crucial.
Resorting yourself to manually distributing and sending tokens is a painful process, and using excel spreadsheets runs the risk of making transfer mistakes or missing payments.
Token-based compensation is a new and powerful form of incentive alignment and i
Episode 38 | Thibaut Sahaghian from Multis on Building a Business on Crypto
Embracing cryptocurrencies into your business can be a daunting undertaking.
3 of the biggest hurdles to going corporate with crypto today are the following;
(i) First payments and treasury managements
(ii) Secondly tracking your wallets and transactions
(iii) And finally exchanging crypto to fiat
To discuss how you can start building your business on crypto and embrace the open financial syst
Episode 37 | Gísli Kristjánsson from Monerium on using your wallet as a bank account
One of the barriers for crypto adoption today lies in connecting the legacy financial system to the decentralized one.
While crypto ramps exist to allow the economic value to flow from fiat money into cryptoassets, and vice versa, the process can be painstakingly long for the inexperienced user, as it involves using a crypto exchange.
One company that has built a bridge between the banking syste
Episode 36 | Pat White from Bitwave on Institutional Adoption of Digital Assets & Compliance
If you have the intention to run your business on crypto, the traditional back office operations stack won’t make the cut.
Your current processes around your invoicing and payments, accounting and reporting, tax compliance and treasury management requires an overhaul to remain compliant and mitigate the risks involved.
The transition to having crypto on your balance sheet thus requires establishi
Episode 35 | Michael Revy from Bulla Network on NFT Invoicing
The future of decentralized commerce will transform traditional commerce, as instead of being built upon siloed systems, it intends to be interoperable between its network participants.
One of the foundations to achieve interoperability for commerce lies in tokenizing an invoice.
In other words, having an invoice minted as an NFT provides an immutable document of ownership for commerce, resultin
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