The Accountant Quits Podcast

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 2.5M+ users with crypto taxes and is now tackling enterprise accounting with a new crypto subledger.✅ OUR RESOURCES

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 & CFO at Celo Foundation) about what it takes to launch a Fractional Web3 CFO practice.✅ OUR RESOURCES

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 additional revenue stream to help finance daily operations.The companies that understand DeFi tend to have a longer runway. They burn less of their initial funding because DeFi yield covers some or all of their working capital needs. But how do you identify the right protocols? How do you invest according to your risk profile and revenue goals?On Episode 85, I spoke with Mathieu Baril, the CEO & Founder of Octav, to provide us with the tips & tricks on managing a treasury in crypto, & how to leverage DeFi yield. ✅ OUR RESOURCES

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 Europe or VARA in the UAE. Finding a sub-ledger that only provides crypto bookkeeping features is no longer sufficient. You need one that addresses regulatory & audit readiness. For over six years, Cryptio has powered the crypto back office of more than 400 organizations, including industry heavyweights like Circle, Uniswap, Consensys, Gemini, Paxos, 1inch, Transak, and even the government of El Salvador. On Episode 84, I spoke with Antoine Scalia, the CEO & Founder of Cryptio, to share how they're building their platform's 3rd generation to meet regulatory, audit & accounting requirements. ✅ OUR RESOURCES

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 Bills.Unlike traditional stablecoins like USDC, where users need to actively lend or stake to generate yield, csUSDL is designed to earn yield natively.On Episode 83, I spoke with Tarun Gupta, Founder & CEO of Coinshift, to talk about the company's business model evolution, what this pivot means for the broader stablecoin market, and how csUSDL is positioning itself in an increasingly competitive space.✅ OUR RESOURCES

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 crypto accounting and tax compliance. To help us understand how to navigate through managing data in a multi-blockchain world, I spoke with Ben Roy, the CEO & Co-Founder at Noves. Noves offers infinite scalability in on-chain data coverage, enabling seamless retrieval and transformation of data from any chain. Instead of merely providing raw data, Noves enriches and standardizes it into useful formats tailored for accounting and tax purposes. ✅ OUR RESOURCES

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 us navigate these complex but important updates, I spoke with RSM US, one of the largest accounting firms in the world and a leader in the digital assets space, with some of their web3 clients including Ondo, Stellar, Binance, Paradigm, Bitgo and Consensys. And joining us are Skip Carlson, Digital Assets Market Leader at RSM US, and John Cardone, Senior Tax Director. ✅ OUR RESOURCES

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 tools page for navigating crypto accounting, finance, and operations, and key takeaways from the conferences I attended in 2024. But that's not all, I'm also revealing exciting new courses for 2025, the launch of our community offering, and the highly anticipated accreditation that's been in the works. ✅ OUR RESOURCES

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 Foundation structure. This facilitates opening bank accounts, exchange accounts, or dealing with vendors and market makers for the DAO. Now while this setup doesn't need shareholders, it does require local directors, a Supervisor, a Secretary, and a DAO Administrator. On Episode 79, I spoke with Karel Olivier, Lemma's CEO & Co-Founder, to discuss their range of DAO Administrator services for DAOs in the Cayman Islands. Some of the DAOs that Lemma works with include SuperRare, Balancer, ENS, Gitcoin, Ethena, and more. ✅ OUR RESOURCES

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 modest. But for those willing to embrace the grind, the payoff isn't just a paycheck - it's the foundation for a career that stands out in the crowded accounting space. On Episode 78, I spoke with Zac Hogg, the Financial Controller at the Solana Foundation. Zac's journey started with nearly three years at PwC in their assurance department before he made the leap into the industry, working in companies like eToro & now the Solana Foundation. ✅ OUR RESOURCES ✨Become a confident Web3 Accountant with our weekly free newsletter: https://www.theaccountantquits.com/newsletter

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 the past year and a half, Breezing, a crypto subledger, has been quietly hustling, shipping products and onboarding customers - with just two people running the entire show. I spoke with Bassil Eid, the CEO of Breezing and Managing Partner at Detof, a crypto accounting firm, and Selem Essaied, their CTO. Some of their customers include industry-renowned names like SAFE, SingularityNET, Zerion, and well-known accounting firms like Harris & Trotter, Myna, R3gen and OnChainAccounting. ✅ OUR RESOURCES ✨Become a confident Web3 Accountant with our weekly free newsletter: https://www.theaccountantquits.com/newsletter

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 stablecoins. One company building on this vision is Dakota, a crypto-powered neo-bank designed for global businesses. With Dakota, your deposits are fully backed by U.S Treasuries, you can send money globally with no transaction fees, and earn yield on your assets through U.S Treasuries and DeFi products, all within a single platform.  On Episode 76, I spoke with Ryan Bozarth, the Co-Founder & CEO of Dakota.  If you're a fan of the smooth, user-friendly experience of Neobanks like Mercury, Brex, Wise, or Revolut, then you're going to love Dakota. Think all that, but with the speed of crypto - where international wires don't take days, but minutes. ✅ OUR RESOURCES ✨Become a confident Web3 Accountant with our weekly free newsletter: https://www.theaccountantquits.com/newsletter

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 effort. It's the satisfaction of creating something that's yours. Being a crypto accountant is an emerging career field, and I'm excited to talk with someone who took the leap of faith when it was still brand new, 8 years ago. I'm talking about Patrick Camuso, a well-respected and recognizable voice of the web3 industry. He's the founder of Camuso CPA, a full-service firm specializing in tax, accounting, and advisory services for web3 businesses. ✅ OUR RESOURCES ✨Become a confident Web3 Accountant with our weekly free newsletter: https://www.theaccountantquits.com/newsletter

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 talent. But, they were built for fiat, not crypto. On Episode 74,  Dominika Stobiecka, CEO and Co-Founder of Toku helps us to learn about token-based compensation and tax compliance. Toku is an all-in-one crypto-native solution that helps you manage employment, stablecoins, native token payroll, and token grant administration for your international team in +100 countries. ✅ OUR RESOURCES ✨Become a confident Web3 Accountant with our weekly free newsletter: ⁠https://www.theaccountantquits.com/newsletter⁠

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 covered or insured against protocol risk. One company that is on a mission to make DeFi safe and accessible is OpenCover. Since 2022, OpenCover has protected thousands of businesses and individuals against on-chain transaction and protocol risks. On Episode 73, I spoke with its Co-Founder & CEO, Jeremiah Smith, who provided us a short masterclass into DeFi cover and Insurance, and how finance & accounting professionals at web3 startups & DAOs can mitigate their on-chain risks. Download the State of DeFi Insurance Report ✅ OUR RESOURCES ✨Become a confident Web3 Accountant with our weekly free newsletter: https://www.theaccountantquits.com/newsletter

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. Providing a suite of crypto-audit and attestation tools, enabling auditors to complete financial statement audits with digital assets on the balance sheet. LedgerLens also provides additional “Proof of Reserve”-specific tooling, enabling you to take on new engagements for stablecoins, exchanges, and RWAs.  ✅ OUR RESOURCES ✨Become a confident Web3 Accountant with our weekly free newsletter: https://www.theaccountantquits.com/newsletter

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 mainstream, auditors will have to quickly come to grips with how to provide assurance for digital assets. Blockchain has the potential to allow auditors to have absolute assurance over on-chain transactions, which is an enormous leap forward from the limiting sample-based approach currently used. To help us know understand the knowledge gap, I spoke with David Byrd, a Partner and the Blockchain Strategy Leader at E&Y US. Topics covered; TAQ intro (0:00) Episode intro (1:04) David's story into blockchain (2:43) Challenges specific to digital assets (4:28) Centralized Custody vs. Self-Custody (7:40) Good practices around storage of private keys (11:59) Sponsor Harris & Trotter's Scholarship & Job Guarantee Program (16:28) Completeness and accuracy of data on blockchains (18:32) Thanks to our sponsor Web3Finance Club (25:15) How not having a SOC 2 –Type II report will affect your audit process (26:57) Understanding audit readiness (33:33) Independence threat of audit readiness (37:51) Digital assets services provided by EY US (39:16) Proof of reserve post-FTX meltdown (42:08) Real-world blockchain use cases (45:11) How web3 auditors & accountants can upskill (47:19) The 3 main points to summarize (51:33) How we can make the future of crypto better (53:19) How to reach out to David (54:17) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow David Byrd: LinkedIN: https://www.linkedin.com/in/david-byrd-2727054/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 offer real-time and transparent accounting records.  One company making a significant contribution to advancing the state of on-chain accounting is Steakhouse Financial, a web3 consulting services firm, which has developed a methodology to offer real-time & independently verifiable financial statements for DAOs.   Steakhouse contributors collaborate with industry-renowned names such as MakerDAO, ENS, Lido, Morpho, Badger, and more.  To help us understand this novel way of accounting and reporting on-chain transactions for DAOs, I spoke with Adrian (also known as ‘@adcv_' on Twitter, the Co-Founder at Steakhouse Financial. Topics covered; Episode intro (0:47) Adrian's story into blockchain (3:10) Starting Steakhouse Financial (5:37) Using Dune Analytics to prepare MakerDAO's financials (7:17) Can Steakhouse commercialize Dune Analytics dashboards as a product (14:30) Dune Analytics dashboards for Lido, ENS (15:52) How to start with Dune Analytics (18:22) SQL knowledge to learn Dubne Analytics (19:30) Using owner labels (21:59) Web3 tools used by Steakhouse Financial (24:03) Using AI for crypto accounting (26:27) Thanks to our sponsor Web3Finance Club (27:51) Benchmarks & performance attribution for DAO treasuries (29:38) Diversifying into wBTC, stETH, sDAI (36:30) DAO Accounting research paper, and should DAOs use sub ledgers (38:11) What is a rebased token and wrapping stETH to wstETH (42:47) Accounting for stETH & wstETH (46:58) How CFOs can manage treasury with staking (47:53) Overview of Steakhouse's services (57:13) How should accountants upskill with blockchain (1:01:17) How to reach out to Adrian (1:04:19) Highly recommended reading - Nikolai's principles (1:04:58) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow adcv_: Twitter: https://x.com/adcv_  Follow Steakhouse Financial: Twitter: https://x.com/steakhousefi  Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 with exchanges or DeFi apps. The war for enterprise wallets is raging, and teams have to decide whether to opt for a fully decentralized multisig solution or rather a centralized MPC wallet infrastructure. To help us understand how companies can use crypto for operations and manage their treasury, I spoke with Bentzi Rabi, the CEO and founder of Utila, an enterprise-grade solution for digital assets. Topics covered; Episode intro (0:41) Challenges of web3 teams for operations (1:23) Multisig v/s MPC wallets (3:41) Why would a Gnosis Safe user switch to an MPC wallet (7:36) Thanks to our sponsor Cryptoworth (11:07) Onboarding with Utila (13:09) Receiving payments use case (17:39) DeFi & CEX connections (20:55) On-ramping & off-ramping (21:59) Integrations available (24:00) How Utila compares with Fireblocks (25:57) What companies should use Utila (29:50) Challenges for mainstream adoption (32:47) Bentzi's favourite maxim (34:42) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Bentzi Rabi: LinkedIN: https://www.linkedin.com/in/bentzi-rabi/ Twitter: https://x.com/bentzzi Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 company that has garnered substantial growth over the past months is Rise, which offers a platform to pay employees and contractors globally with crypto and has processed more than $150million in volume of payments to date. Some of their clients include t3rn, Bitcoin.com, Velodrome Finance, LIDO, P2P, Zen Academy to name a few. On Episode 68, I spoke with Hugo Finkelstein, the Co-Founder & CEO of Rise, on how compensation is evolving & the incentives companies are proposing to attract talent globally. Topics covered; Episode intro (0:47) Hugo's background and story behind Rise (2:28) The current regulatory environment for crypto payments (8:42) Tax considerations (10:55) Web2 companies using stablecoins (13:10) Payroll for a globally distributed workforce (14:32) Thanks to our sponsor Web3Finance Club (16:05) Rise overview & onboarding (17:47) Using a SAFE to fund Rise account (20:36) Rise ID & keeping payroll transactions private (21:56) What does compliance mean (25:27) 1099s for contractors (27:46) Success stories at Rise (28:21) How is Rise different from its competitors - Request Finance, Coinshift, Acctual, BitPay, Parcel, Niural, Toku, & Franklin (29:48) Upcoming features for Rise (32:09) How EOR works for a South African employee (33:05) Closing thoughts (34:50) Using Rise ID to skip KYC checks (35:45) Maxim of Hugo Finkelstein (37:22) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Hugo Finkelstein: LinkedIN: https://www.linkedin.com/in/hugo-finkelstein/ Twitter: https://x.com/hugfink Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 compliance deadlines based on the nature of your services: June and December 2024. Now in the absence of a dedicated compliance specialist, the task of ensuring your web3 startup is MiCA-ready might fall on you, the Head of Operations or Finance. Being proactive and seeking legal expertise early is crucial. To help us get prepared for MiCA, I spoke with Anne-Grace Kleczewski & Anne-Lorinne Mognetti from MME. MME has been instrumental in the development of the "Crypto Valley" ecosystem and is a leading Swiss firm offering comprehensive legal, tax, and compliance services for digital assets and blockchain technology. Topics covered: Episode intro (00:47) Anne-Grace's background (2:51) Anne-Lorinne's background (6:21) What is MiCA & why it's being introduced (7:41) Scope & requirements for MiCA compliance (10:42) MiCA & DeFi (13:11) Deadline of 30th December 2024 (19:19) Grandfathering rule and verifying the level of decentralization (22:46) Thanks to our sponsor Web3Finance Club (27:17) MiCA v/s current crypto regulations (29:11) Passporting feature & obligations for non EU companies (37:03) Reverse solicitation exemption (39:55) Attractive jurisdictions for non-EU companies (43:59) How MME helps with MiCA compliance (47:24) Services most requested by accountants & CFOs (50:26) How to make DeFi more accessible (53:35) Closing thoughts (58:20) Maxim of Anne-Grace & Anne-Lorinne (59:07) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Anne-Grace Kleczewski: LinkedIN: https://www.linkedin.com/in/anne-grace-kleczewski-789baa81/ Follow Anne-Lorinne Mognetti: LinkedIN: https://www.linkedin.com/in/anne-lorinne-mognetti-766586152/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 initial compensation, many professionals accept these challenges, hoping that the skills and experiences gained will provide a competitive edge later in their careers. The Accountant Quits aims to highlight the stories of CFOs who have successfully made the leap from traditional finance to blockchain. On Episode 66, I spoke with Greg Mocnik, the CFO at Celestia Labs and previous Head of Finance at dYdX Foundation, supporting the growth of the dYdX protocol, one of the most prominent decentralized exchanges. Greg spent nearly five years at EY in their advisory department, and since many of you have similar backgrounds and aspirations to start working in web3, I hope this episode will serve as a source of inspiration. Topics covered: Episode intro (00:47) Early years working at E&Y (2:39) Working at Meta & learning SQL (8:18) Getting hired at dYdX Foundation (9:36) Hiring process at dYdX Foundation (12:41) Challenges starting at dYdX Foundation (14:25) Extracting information from block explorers through Etherscan API (19:49) Thanks to our sponsor Web3Finance Club (23:47) Using Acctual as an AR & AP tool (25:30) Other tools for the web3 CFO (30:25) Learning from external audits & need for documentation (31:38) Skills required to be a web3 accountant (39:25) Taking time off (43:31) Greg's favourite maxim (47:55) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Greg Mocnik: LinkedIN: linkedin.com/in/gregmocnik/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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, through the Statement of Digital Assets, or short for SoDA. SoDA is a standardized reporting methodology that bridges Generally Accepted Accounting Principles (GAAP) with on-chain holdings. By providing a transparent lens through which to view digital assets, SoDA demystifies the often-opaque GAAP balance sheets, offering stakeholders a clear picture of a firm's liquidity and digital asset holdings. On Episode 65, I spoke with Sam Leichman, the leader of the Blockchain Practice Area at Propeller Industries, who is leading the SoDA initiative. Propeller provides ‘full stack' CFO and accounting outsourced services to VC-backed startups. Currently they work with over 50 web3 clients including Optimism, cLabs, Figment, POAP, and VeeFriends. Topics covered; Episode intro (00:47) Sam's background & story learning blockchain (3:04) FASB digital assets 2023 update (9:26) SoDA vision's & origin story (14:44) Thanks to our sponsor Web3Finance Club (23:30) Contributing to SoDA (25:12) Disclosures required in SoDA (29:54) Is SoDA for management reports or annual financial statements (33:30) SoDA reports in sub-ledgers (35:35) Use cases for SoDA (39:55) Propeller Industries & its web3 accounting services (43:46) Roadmap for SoDA (47:17) Favorite maxim of Sam (50:06) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Samuel Leichman: LinkedIN: https://www.linkedin.com/in/samleichman/ Twitter: https://x.com/samleichman Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 likely to thrive and endure than one that lacks a robust ecosystem around its token. While the founding team of a project will be responsible for designing the tokenomics of a project, for this episode, I'd like to go through the CFO's guide for tokenomics. On Episode 64, I spoke with Roderick Mckinley, a Tokenomics & Finance Advisor who has helped projects raise over $100m, by structuring their token sale offers and designing their token economies. Some of his clients include ParallelChain, Ternoa, Paid Ignition Launchpad, and ShopX. Roderick is also a prolific content creator, and on his YouTube channel Token Design, he spends time educating others about the opportunities being unlocked by blockchain. Recently he joined the Token Engineering Academy to teach a course on OnChain Analytics using Dune & ChatGPT. Topics Covered; Episode intro (00:47) Roderick's background & story learning blockchain (3:04) Defining tokenomics (5:54) Value accrual concept (8:58) Web3 project examples capturing value (11:45) Does every web3 project need a token (16:41) Thanks to our sponsor Web3CFO Club (21:26) Plan for launching a token (23:08) Financial modeling with tokens (28:07) Managing token distribution - investors & employees (33:07) Token design services offered by Roderick (35:58) OnChain analytics course using Dune and ChatGPT (39:05) Emerging career opportunities with token engineering (42:57) Real-world asset tokenization interest (45:14) Other areas in web3 Roderick is paying attention to (50:27) Favorite quote (53:36) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Roderick McKinley: LinkedIN: https://www.linkedin.com/in/roderickmckinley/ Twitter: https://x.com/RealTokenDesign Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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. Whilst the Wall Street Journal reported that 300,000 accountants quit their jobs between 2019 and 2021, There is an emerging class of accountants who have upskilled themselves to understand blockchain for accounting. On Episode 63, I spoke with Andrei Belonogov, the Managing Partner of TechAccountingPro, a company that provides accounting & US GAAP advisory services for digital assets. Andrei is not your typical accountant. His blog focused on deciphering the accounting treatment of digital assets under US GAAP was recognized in the top 100 accounting blogs by Feedspot. Topics covered; Episode intro (00:47) SAFT accounting (2:54) SAFT measurement with & without active market (5:08) Token development costs (6:05) Accounting for smart contracts (7:23) Receivables & embedded derivative (8:56) Staking rewards for delegators (12:33) Do sub-ledgers help with tracking staking income (15:14) Thanks to our sponsor Web3CFO Club (16:52) Classification between non-current & current assets (18:33) Accounting for stablecoins (21:49) Andrei's story transitioning to web3 (25:24) Services offered by TechAccountingPro (27:40) The act of writing (29:48) Why should accountants learn blockchain (31:21) Should accountants learn how to code (34:10) How to reach out to Andrei (36:01) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Andrei Belonogov: LinkedIN: https://www.linkedin.com/in/andrewbelonogov/ Twitter: https://twitter.com/tech_accounting Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 benefits, like stock options. Enter the Employer of Records model which allows companies without entities abroad to employ workers full time and give them benefits they couldn't grant to them as contractors. A few of the notable names in web2 would be Deel, Oyster or Remote.com Now if you're a web3 team and wish to pay employees in crypto, these companies offer limited features for Global crypto payroll. Enter Niural, the EOR platform designed for crypto, which also provides a single HR tech platform for Payroll, Contractor Management, Employee Benefits, and Bill Pay. Some of their web3 users include companies such as Alliance DAO, Tensor, Flare, Hadron Labs, Omni, and Glo Dollar to name a few. On Episode 62, I spoke with its Founder Nabin Banskota, a serial entrepreneur with 20+ years of experience in fin-tech, HR, payroll, and sales to learn more about how they facilitate global crypto payroll. Topics covered; Episode intro (00:47) Nabin's background & story behind Niural (3:27) Trends in web3 hiring (5:38) Hiring as a contractor (10:37) Hiring an employee & EOR model (13:07) Difference between EOR & PEO (14:55) Adoption of crypto from web2 companies (17:55) Overview of Niural (23:28) Monthly payroll process through Niural (26:52) Countries eligible for onboarding (29:25) Thanks to our sponsor Web3CFO Club (32:08) Experience of a true payroll product with a paystub (33:50) Withdrawing funds from Niural (36:54) Roadmap & upcoming milestones (39:37) Trends accelerating crypto adoption (42:09) Closing thoughts (45:35) Favorite quote or maxim (47:32) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Nabin Banskota : LinkedIN: https://www.linkedin.com/in/nabinbanskota/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 back at the long hours and pressure my audit assignments meant, but in the long term, the lower salaries as compared to an industry role was a turn-off. With opportunities in web3 for accountants surging, I spoke with Léopold Wenger, the CFO at Cometh, a web3 development platform for developers to help build games and DApps. Just like me, Léopold started his career as a financial auditor and his desire to learn emerging technologies like blockchain & AI meant he was taking his career growth into his own hands and not remaining complacent. On Episode 61, Léopold shares his story which can hopefully inspire other accountants and auditors from Big4 companies to also make that transition. Topics covered; Episode intro (00:47) Léo's background (2:52) Pre-requisites to work for a web3 startup (4:57) Challenges working as a web3 CFO (8:23) Advice for a CFO starting in web3 (11:07) Managing financial reporting (12:51) Time taken to build a sub-ledger (15:20) Outsourcing of accounting (16:35) Internal controls for digital assets (18:35) Thanks to our sponsor Web3CFO Club (21:50) Advice for Big4 accountants to transition to web3 (23:51) Regulation in France with PSAN (25:59) Crypto-friendly banks in France (29:27) Paying employees & vendors in crypto in France (31:35) M&A opportunities in web3 gaming (32:55) Mainstream adoption through gaming (35:48) How to contact Léo (38:51) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Léopold Wenger: Twitter: http://@leo_wgr LinkedIN: https://www.linkedin.com/in/l%C3%A9opold-wenger-076015b4/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 workload of running their finance and accounting processes. Request Finance the web3 industry leader for invoicing, payroll & expenses, with a payment processing volume of more than $700m under its belt understood & capitalized on the pain points most web3 CFOs & accountants face. Recently Request Finance acquired Consola Finance, a crypto sub ledger to offer an all-in-one finance stack for both crypto payments & accounting. With more businesses adopting stablecoins as a means of payment, I spoke with Christophe Lassuyt, the CEO of Request Finance, and Christophe Fonteneau, their Head of Partnerships & Strategy. Topics covered: Episode intro (00:48) Learnings driving stablecoins adoption (2:47) What is Request Finance (7:08) Scaling product growth (8:57) Launching Crypto-to-fiat payments (14:58) Difference with Fiat-to-Crypto payments (17:11) Why Request Finance acquired Consola Finance (19:40) Thanks to our sponsor Web3CFO Club (22:52) Loyalty for crypto sub-ledgers (24:34) Is Request Finance now competing with other sub-ledgers? (27:40) The success of the subscription pricing model (31:02) The story behind the Web3CFO Club (35:46) Vision for the Web3CFO Club (38:00) Paid partners of the Club (40:01) Roadmap & corporate cards (41:27) ROI between side events & conference booths (43:41) Advice for being an entrepreneur (46:37) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Christophe Lassuyt: Twitter: https://twitter.com/LassuytChristop LinkedIN: https://www.linkedin.com/in/christophel1310/ Follow Christophe Fonteneau: Twitter: https://twitter.com/chfonteneau LinkedIN: https://www.linkedin.com/in/fonteneau/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 will be generational. So where do accountants go from here? Will AI replace accountants and 10 years from now, what will the accountants of today be doing? To help us find some answers through a discussion on the intersection of Blockchain and AI in accounting, today I've the pleasure to be speaking with Kareem Khattab, the Founder & CEO of Entendre Finance, an AI-powered crypto accounting software to help automate your fiat + digital assets activities. Topics covered; Episode intro (00:48) Kareem's background (2:35) The intersection of AI & Blockchain (5:16) Onchain data collection with AI (7:00) Tracking & labelling of onchain transactions with AI (9:27) Challenges building a sub ledger (12:52) AI agents for crypto (14:23) Overview of Entendre Finance (17:33) Thanks to our sponsor Web3CFO Club (20:30) Data privacy with AI (22:13) Using ChatGPT prompts in Entendre (25:54) Onboarding with Entendre (29:35) Positioning against competitors like Cryptio, Bitwave, Cryptoworth, TRES (31:56) What does Entendre actually mean (35:39) Integrations with web3 companies like Loop, Rain, Hedgey Finance (37:36) How can accountants upskill with AI (39:29) Acceleration of crypto with AI (42:52) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Kareem Khattab: Twitter: https://twitter.com/kvreem LinkedIN: https://www.linkedin.com/in/kareem-khattab/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 your DAO, and understanding the legal implications of distributing tokens to employees, speaking with an experienced web3 legal specialist might save you hours and money in the long term. You don't want to be losing sleep thinking “Are we allowed to do that” or “Have we overlooked something in our legal structure” To help us better understand how to define the legal strategy for your web3 startup and DAO, I spoke with Han Verstraete, the CEO & Founder of Otonomos. Since 2015, Otonomos has helped builders and investors in crypto form and maintain their legal entities in all major jurisdictions around the world. Topics covered; Episode intro (00:48) Han's background and story founding Otonomos (2:34) What is a Token SPV (5:45) VASP jurisdictions to issue tokens (8:59) When to choose BVI, Cayman Islands, Switzerland (12:20) Legal structures for DAOs (15:27) Best jurisdictions for DAOs (23:58) Thanks to our sponsor Web3CFO Club (29:09) Do you even need a bank? (30:57) Framework for legal structure for web3 startups (38:00) Overview of Otonomos (43:14) OtoCo & creating an on-chain company (47:27) Getting started with OtoCo (52:46) Adoption of crypto in 2024 (53:56) Closing thoughts (58:39) How to reach out to Han (01:01:26) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Han Verstraete: Twitter: https://twitter.com/hanverstraete LinkedIN: https://www.linkedin.com/in/hanverstraete/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 dedicated Treasury Manager, and therefore it's up to that person to figure out things like custody, using DeFi platforms, on and off ramps, tokenomics if applicable, or managing payroll and expenses using crypto. To help us better understand web3 treasury management, I spoke with Nik Pletikos, the Founder of DeFiwaves, a consulting firm specializing in Tokenomics Design and Web3 Treasury Management. Nik currently manages the treasury & tokenomics for multiple protocols and previously spent 4 years building the treasury department at Bitstamp, one of the longest-running crypto exchanges. Nik has been working with some of the leaders in the industry, such as Hacken, and Sweat Economy. Topics covered; Episode intro (00:39) Nik's background & story learning blockchain (3:02) Hedging against volatile crypto assets (4:28) Fiat v/s stablecoins management (10:29) Solutions like OpenEden, Ondo Finance, Maple Finance (13:59) Thank you to our sponsor Web3CFO Club (16:29) Managing counterparty risk with banks & exchanges (18:13) Investing in DeFi protocols (21:19) Investment policies for DeFi (24:09) Laddered investment strategy for DeFi (26:57) Thank you to our sponsor Convoy Finance (31:21) Native token management (33:37) Overview of DeFiWaves for tokenomics design (38:37) Hiring a web3 CFO to manage treasury (40:52) Reach out to Nik (47:09) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Nik Pletikos: Twitter: https://twitter.com/ethreasurer LinkedIN: https://www.linkedin.com/in/nikpletikos/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 Finance & Investments at Pixelynx, an AI music creation platform. Shivani is also a CFO Advisor at the Crypto Accounting Group, a crypto accounting & taxation services firm, and a Mentor at Outlier Ventures, a web3 VC and accelerator. To inspire more accountants to upskill themselves with blockchain, this conversation today will revolve around Shivani sharing her experience, challenges, learnings, and career advice for transitioning from a web2 CFO to a web3 CFO. Topics covered: Episode intro (00:39) Shivani's story of becoming an accountant (2:37) Falling into the web3 rabbit role (4:43) Initial challenges with crypto accounting (8:52) Understanding block explorers (10:58) Thank you to our sponsor Cryptoworth (11:50) Helping early-stage founders with fundraising (13:33) Best practices around web3 accounting (16:22) Setting & tracking KPIs (19:37) Tooling for web3 accounting, sub-ledgers (21:55) Thank you to our sponsor Convoy Finance (23:58) Setting chart of accounts in main ledger (25:29) Career advice for unhappy accountants (26:50) Getting hired as a web3 accountant (30:00) How does Shivani take time off (31:28) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Shivani Phull: Twitter: https://twitter.com/shivv_p LinkedIN: https://www.linkedin.com/in/shivani-phull-30bb1953/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 published an update that seeks to better reflect the economics of crypto assets, thereby allowing companies to measure crypto assets at fair value. In short, these new changes seek to improve the accounting for and disclosure of crypto assets so investors can make more informed decisions. On Episode 55, I had the pleasure to have a returning guest, one of the most highly sought-after & well-respected crypto accountants in the industry, Mackenzie Patel, the Founding Partner at Hash Basis, a crypto accounting & taxation services firm. Topics Covered: Episode intro (00:39) Mackenzie's background (2:54) Cost less impairment accounting for crypto (4:17) US GAAP fair value accounting for crypto (5:39) Is impairment still required (7:46) Crypto assets fair value accounting applies to (9:22) New disclosure requirements (12:27) Thank you to our sponsor Cryptoworth (16:32) Concerns with new US GAAP update (18:06) Adjustment for retained earnings (20:04) Sub-ledger features for fair value accounting (23:59) Cash flow requirements (26:46) Thank you to our sponsor Web3CFO Club (29:35) Crypto accounting & tax services with Hash Basis (31:33) Career opportunities at Hash Basis (35:00) Onboarding of new clients at Hash Basis (36:14) Form 8300 and tax reporting over $10,000 (39:16) A failure that set Mackenzie up for success (42:55) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Hash Basis: Twitter: https://twitter.com/HashBasis LinkedIN: https://www.linkedin.com/company/hash-basis/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 income subject to income tax and capital income subject to capital gains tax. Since tax is jurisdiction-specific, I'm starting a new series on Crypto Taxation and for the 1st episode, we'll look into the US

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, such as completeness, existence, valuation, cut-off, and occurrence that they use to develop their audit procedures. To help us understand how to get companies having crypto on their balance sheet audit ready, I spoke with Marnus Kruger & Chris O'Reilly, Technical Accounting Manager and Lead Finance Engineer at Harris & Trotter. Harris & Trotter, which provides accounting, audit, and taxation services, has made a name for itself in the digital assets space. Today it serves around 450 companies including the likes of 1inch, Wintermute, The Sandbox, Blockchain.com, Bitfury, P2P and Mercuryo. In this episode, we will take each of the financial assertions to provide you with an understanding of how to be ready when auditors come knocking at your door. Topics Covered: Episode intro (00:37) Marnus & Chris's story of how they got into blockchain (3:02) Criteria for accepting an audit engagement (6:48) Verifying ownership of crypto (9:02) Valuation of crypto and choosing cut-off time (14:34) Recoverability of assets from DeFi protocols (18:49) Thank you to our sponsor Cryptoworth (20:50) Completeness of on-chain transactions (22:25) Good practices for wallet hygiene (27:12) Tests of controls for crypto (28:51) Harris & Trotter crypto accounting services (33:54) Audit readiness with Harris & Trotter (35:03) Thank you to our sponsor Convoy Finance (36:45) Signature matching tool to verify ownership (38:14) Live proof of stablecoin reserves tool (40:26) Do auditors rely on crypto sub-ledgers like Cryptio, Cryptoworth, Tres Finance, etc (41:44) Upskilling accountants & auditors for crypto (44:55) Closing thoughts (47:42) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Harris & Trotter: Twitter: https://twitter.com/HarrisTrotter_ LinkedIN: https://www.linkedin.com/showcase/harris-trotter-digital-assets/ Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 understanding of how to import 100% of transactions from block explorers is not straightforward. Through a 6-week cohort, we're bringing the following instructors to get you crypto-ready; Christophe Lassuyt - CEO & Co-Founder of Request Finance Tarun Gupta - CEO & Founder of Coinshift Mackenzie Patel - CEO & Co-Founder of Hashbasis Mo Yang - CEO of Convoy Finance & CFO at Fuel Labs Richard Pasquin - COO & Co-Founder at Cryptoworth Nik Pletikos - Head of Treasury at Sweat Economy Michael Cieri - Accounting Manager at Polygon Labs Umar Mallam Hassam - Creator of The Accountant Quits Sign up for the 1st cohort starting October 19 => https://www.theaccountantquits.com/crypto-accounting-academy Unsure Whether This Course Is Right For You => Book A 1 On 1 Call Topics Covered Episode intro (00:00) Problem learning crypto accounting (2:05) Modules in the academy (4:27) Instructors of the academy (10:10) What is the course not about (14:33) Who is this course for (16:15) Do you have to be an accountant to join (17:24) Resources offered with course (18:12) Pricing (19:26) Why I'm launching a Crypto Accounting Academy (21:06) Should you quit your job (22:19) How to decide whether this course is for you (24:26) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 web3 billing solution did not exist. Enter Super, a Web3 Subscription billing platform acting as a bridge between fiat and crypto payments. Super allows you to manage your subscribers' data and their subscriptions and helps you to get rid of the manual work involved in connecting fiat and crypto payments. On Episode 51, I spoke with its Co-Founder & CEO, Bisola Asolo. Topics covered; Episode intro (00:37) Story of Bisola co-founding Super (2:20) Subscription billing platform v/s Payment gateway (3:53) Are web3 teams collecting payments in crypto today (7:14) Thank you to our sponsor Cryptoworth (8:31) What is Super, & features for subscription billing (10:05) Onboarding new customers (12:05) Finding 1st customers with Super (13:23) Use cases & how clients use Super (15:13) Thank you to our sponsor Convoy Finance (16:51) Roadmap & upcoming milestones (18:46) Challenges on adoption from web2 businesses (20:15) Lessons learned in scaling a business (22:48) Closing thoughts (24:37) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Super: Twitter: https://twitter.com/trysuper_ Follow Bisola Asolo: Twitter: https://twitter.com/bisasolo Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 explorers, the monthly/annual reporting and cash flow forecasting can be very time-consuming. On episode 50, I spoke with Tal Zackon, the Co-Founder & CEO of Tres Finance. Tres Finance provides you with a one-source truth to track and consolidate your DeFi and TradFi transactions simultaneously and stay compliant with your accounting and audit. Topics covered; Episode intro (00:40) Story of Tal co-founding Tres (2:20) Challenges tracking on-chain transactions (8:27) What is Tres Finance (10:59) What is a financial data lake (15:02) Sub ledgers v/s financial data lake (18:16) Onboarding with Tres (19:13) Thank you to our sponsor Convoy Finance (20:54) Capturing onchain & offchain transactions with Tres Link (22:30) Use cases of clients using Tres (23:30) Automation practices & labeling (27:38) Integration with Xero, Quickbooks, Oracle Netsuite (29:27) Reconciliation with ERP integration (32:06) How Tres compares to its competitors - Bitwave, Cryptio, Cryptoworth (33:05) Banking integrations - Plaid (36:54) Thank you to our sponsor Web3CFO Club (37:53) Pricing with Tres (39:36) Certification program for accounting & audit firms (44:11) Roadmap and upcoming milestones (46:28) Challenges for adoption (48:57) Closing thoughts (50:15) How to reach out to Tal (51:43) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 safe signer can create a safe transaction or that transactions cannot be easily edited without canceling the initial transaction. One company helping crypto organisations better manage their multi-sig treasury transactions on top of Safe, is Coinshift. Coinshift's mission is to simplify on-chain treasury operations , whether for payments, reporting, and asset management. On episode 49, I spoke to its Founder & CEO Tarun Gupta. Topics Covered Episode intro (00:40) The story behind Coinshift (2:40) How Safe works (7:54) Pain points for users with Safe alone for multi-sig transactions (11:52) Overview of Coinshift (13:18) Thank you to our sponsor Cryptoworth (16:43) Onboarding with Coinshift (18:22) Pricing for Coinshift (21:36) Proposal on Coinshift v/s transaction on Safe (23:28) Most used chains & tokens (26:15) Financial reporting & asset management feature (27:17) Coinshift apps - CowSwap, Aave, LiFi, Request Finance (30:49) How CowSwap works with Coinshift (33:18) Integration with Request Finance (35:27 ) Why use Coinshift in combination with Request Finance (36:44) Thank you to our sponsor Web3CFO Club (38:40) Positioning against competitors like Utopia Labs, Multis, Parcel (40:24) Account abstraction and onboarding the next billion of web3 users with Safe (44:37) Closing thoughts of Tarun (49:24) How to reach out to Tarun & Coinshift (51:03) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 been the Financial Controller at Aave, one of the most well-known decentralized lending & borrowing protocols. Jozef is a highly sought-after crypto accountant as he has proven he can marry the best of both worlds in setting up the finance function of a web3 startup, that is using a combination of digital asset tracking tools and traditional ERP, payroll and treasury management solutions. Topics covered; Episode intro (00:39) Starting out as a CPA working for BDO (2:39) Falling down the web3 rabbit hole (5:39) Pre-requisites to get an accounting job in web3 (8:17) Starting out at Aave, & hiring process (9:10) Thank you to our sponsor Cryptoworth (11:18) Responsibilities & challenges at Aave (12:54) Starting out at Ether.fi (17:24) Web3 tooling for accounting & finance (19:30) Treasury Management advice for the new web3 CFO (22:22) Thank you to our sponsor Web3CFO Club (24:57) Difference between a web2 v/s web3 accountant (27:03) Emerging opportunities for accountants in web3 (28:45) Additional skills for the crypto accountant (30:25) Taking time off (32:31) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 successfully transitioned to blockchain, why can't you? For the 1st episode of this series, I spoke with Mo Yang, The CEO & Co-Founder of Nexoa and the Group CFO at Fuel Labs. As a Chartered Accountant and CFA charter holder, Mo started his career at traditional accounting firms like Grant Thornton and BDO, worked as a capital markets trader, undertook CFO roles at multiple web2 and web3 startups. Topics covered; Episode intro (00:39) Mo's early career path in web2 (2:44) How Mo fell into the blockchain rabbit hole (4:12) Pre-requisite for accountants to get crypto jobs (6:09) Launching Nexoa, a Fractional CFO services firm (8:42) Thank you to our sponsor Cryptoworth (11:34) What does a Fractional CFO do (13:31) Challenges being a web3 CFO (17:54) Treasury Management advice for the new web3 CFO (20:03) Thank you to our sponsor Web3CFO Club (23:01) Tooling for web3 accounting: Cryptio & Request Finance (25:01) Set up for wallet management (26:40) Impact of AI on accountants & opportunities to work in web3 (29:09) Taking time off (31:07) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 that's a messy way to build a web3 project. Enter Rain, a corporate card for web3 projects. Rain's mission is to allow you to spend in crypto, without ever needing a fiat bank account. Their platform is non-custodial, integrates with Gnosis Safe and allows you to have as many virtual cards as you'd like for your team. On Episode 46, I spoke to its co-founder, Charles Naut. Topics covered; Episode intro (00:39) Charles's background and how he got interested with blockchain (2:25) Where the idea for Rain came from (4:24) Friction points around off-ramping today (10:00) How do crypto corporate cards work with off-ramping (11:19) ACH & Wire transfer possible with Rain (13:26) What is Rain, and its different features (15:44) Thank you to our sponsor Cryptoworth (17:29) Getting onboarded & due diligence requirements (19:24) Does Rain plan to offer rewards/cash-back programs? (20:51) Examples of web3 projects using Rain (22:54) Using virtual cards as a spend management tool (23:45) New model for expenses reimbursement (26:49) Thank you to our sponsor Web3CFO Club (28:44) Accounting integrations with Rain (31:01) How does Rain differentiate from competitors like Brex, Ramp, Reap, AirWallex (33:28) Challenges faced for adoption (35:10) Upcoming trends for crypto spend management (36:43) How to reach out to Charles (38:18) Follow The Accountant Quits: LinkedIN: linkedin.com/company/the-accountant-quits Twitter: twitter.com/accountantquits Follow Rain: Twitter: https://twitter.com/raincards Follow Charles Naut: Twitter:  https://twitter.com/cnaut Review If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes. Website For show notes and past guests, please visit theaccountantquits.com/podcast/

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 much recognition for their work in these white-collar factories. So how does a consulting turn this broken business model to make sure everyone enjoys a fair piece of the pie Enter Bankless Consulting, the world's first web3-native professional services consultancy.  As a DAO, 90% of their revenue generated is allocated to the project team. On Episode 45, I spoke with Chuck Cummings, the co-founder & Head of Finance of Bankless Consulting.  Topics covered Episode intro (00:39) Chuck's background and how he got interested with blockchain (2:38) Web3 consulting firm principles on shared ownership & profit sharing (4:39) Creation of Bankless Consulting (8:02) Services offered - tokenomics, DAO consulting, web3 marketing strategy (10:15) Onboarding talent (13:36) Lessons learned from scaling a remote first consulting firm (17:12) Thank you to our sponsor Cryptoworth (18:47) Governance at Bankless Consulting, under a DAO model (20:21) Examples of projects working with Bankless Consulting (24:18) Lessons learned from invoicing in crypto/stablecoins (28:03) Using crypto accounting tools (31:20) Most used tools as the Head of Finance, Request Finance, Circle (33:08) Thank you to our sponsor Web3CFO Club (36:45) Experience from contributing to DAOs, & new career opportunities (39:16) Social impact projects Chuck is focusing on (44:11) Alpha on social impact projects - decentralized data marketplaces (47:42) Maxim that Chuck lives by (50:41) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 my accounting job,  But rather it's a bigger movement of accountants witnessing how technology is making them redundant in the near future.  I'm convinced that you can slowly use the accounting knowledge you have to learn blockchain , and then the sky really is the limit.  Topics covered; Intro on how to become a crypto accountant (00:39) Monica Singer from Consensys, on why CEOs won't be accountants anymore (3:10) Juan Iganacio Ibanez, on what triple entry accounting means (5:58) Thank you to our sponsor Cryptoworth (17:29) Shehnaaz Suleman, a Partner from BDO, on how to account for crypto assets (11:36) Christophe Lassuyt, the CEO of Request Finance, on the emerging career opportunities for accountants with web3 (16:34) Thank you to our sponsor Web3CFO Club (20:10) Antoine Scalia, the CEO of Cryptio, on why spreadsheets are inefficient for crypto accounting, & why you need an automated crypto accounting solution (21:52) Geeth Jay, the CEO of Cryptoworth on how can accountants start to specialize themselves on different blockchains (26:56) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 complex blockchain data from wallets, exchanges, and custodians into your accounting software to facilitate your reporting, audits and tax filings. Cryptoworth supports around 100 blockchains, 56 exchanges, over 700 DeFi protocols and has already onboarded more than 1,200 users using their platform.  Their users include web3 industry leaders, including Aave, Axie Infinity, Celo, Moonbeam, Request Finance amongst others. On Episode 43, I spoke with its co-founder & CEO Geeth Jay. Topics covered; Geeth's background and how he got interested with blockchain (2:24) Completeness & accuracy of transactions from block explorers (5:17) Different block explorers for the same blockchain (6:42) Different block explorers for different blockchains (7:56) Reconciliation exercises (9:49) Common transaction deviations (11:12) Running your own nodes & indexing the data yourself (12:19) Public v/s private blockchains (14:42) Overview of Cryptoworth (16:35) How to get on boarded with Cryptoworth (19:03) Use cases for using Cryptoworth (21:13) Difference between using Excel v/s Cryptoworth (23:06) How is Cryptoworth different to other competitors like Cryptio, Bitwave, Consola, Tres Finance, Integral (25:38) Joining Web3CFO Club (17:29) Can Cryptoworth be both a crypto sub ledger & main ledger (28:32) How does pricing work (30:41) Features available with minimum pricing package (33:50) Overview of Cryptoworth Alliance program (35:05) Challenges for adoption (36:32) Should accountants specialize on specific chains (39:04) Roadmap in 2023 (40:09) DeFi & NFT modules for tracking positions, income & expenses (41:13) Closing thoughts (43:28) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 if they want to be paid in crypto. That's because payments in crypto right now are push payments.  One company who wants to enable automatic recurring crypto payments, without locking up funds is Loop.  With Loop, you can embed a simple payment link on your application which allows your customers to pay their recurring subscriptions - with no code required.  On Episode 42, I spoke with Loop's CEO & Co-Founder Eleni Steinman Topics covered; Eleni's background and how he got interested with blockchain (2:24) Difference between push and pull payments (4:55) How does Loop automate recurring payments (6:24) How to integrate Loop (11:24) How to allow recurring payments using Loop's SDK & API (14:14) Integration with ChargeBee for crypto subscriptions (15:26) Usage based subscription model (17:55) Invoicing & receipts automatically generated with Loop (19:09) Joining Web3CFO Club and network with high profile web3 CFOs (21:46) Crypto2Fiat and Fiat2Crypto autopay with Loop (23:28) Run payroll without involving multi-sig wallet owners (25:09) Use cases for crypto autopay (29:00) Barriers for adoption for Loop (32:15) What is a token allowance (33:23) Roadmap & upcoming features (34:45) How can a protocol like Request Network build on top of Loop (36:24) How to reach out to Loop (37:20) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 pay your employees and contractors in crypto, you need a single dedicated payroll solution that takes into account all these components, otherwise the payroll process becomes fragmented. Enter Franklin, a hybrid fiat and crypto payroll solution which allows you to automate all payment flows for payroll. On Episode 41, I spoke with its co-founder and CEO, Megan Knab. Topics covered; Megan's background and how he got interested with blockchain (2:46) How payroll process works, financial deductions and net salary (7:44) Challenges creating a tax compliant web3 payroll product (11:03) How Franklin helps to automate crypto & fiat payroll (15:06) How Franklin handles tax payments (17:29) Mass pay payroll function (19:34) How to pay your workforce on multiple chains/crypto in 1 single transaction (23:22) Direct crypto deposit & direct bank deposit with Franklin (27:10) How is Franklin different to competitors like Request Finance, Bitwage, Utopia Labs, Parcel, Coinshift (28:22) Joining Web3CFO Club and network with high profile web3 CFOs (30:14) Tax implications of receiving salary in crypto (31:56) Barriers for adoption of crypto payroll (34:03) Streaming as a payroll product (37:01) Accounting for payment streams (43:40) Accounting integrations to ERPs like Xero, Quickbooks and crypto accounting solutions like Bitwave, Cryptio (45:02) Megan's favorite quote (48:26) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 - which would extract, process and feed in transactions from the blockchain to your Main ledger. If you are looking to scale your business using crypto, you need to start automating your crypto bookkeeping. On Episode 40, I speak with Jacob Kobler, the CEO & Founder of Consola Finance. Consola Finance allows you to convert the blockchain transactions from wallets, exchanges, and custodians into your accounting software to facilitate your reporting, audits and tax filings. Topics Covered: Jacob's background and how he got interested with blockchain (2:32) Common issues when not using a specialized crypto accounting software (5:10) Back office set-up for crypto bookkeeping (8:07) What is Consola Finance & features for on-chain accounting (10:51) Integrations with Quickbooks, Xero, Request Finance (13:53) How is Consola different to other competitors like Cryptio, Bitwave, Cryptoworth, Tres Finance, Integral (15:34) Joining Web3CFO club and network with high profile web3 CFOs (17:29) How to get onboarded on Consola, and minimum volume of crypto transactions (19:28) Impairment & different cost basis available (22:00) Fair value measurement and valuation using market price (24:04) Accounting for staking income (25:03) Challenges faced by Consola for adoption (27:29) Upcoming features & milestones for Consola (29:01) How to reach out to Jacob (30:34) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 is inherently different from traditional stock options compensation. To help us understand token based compensation, I spoke with Robin Ji, the CEO and co-founder of Liquifi. Liquifi is a platform that allows you to automate token distributions and track vesting schedules, and will save yourself time in managing your crypto payroll operations. Topics covered; Robin's story into blockchain and how Liquifi started (2:44) Differences between token based compensation and traditional equity (8:03) Designing a token compensation plan (11:34) Should all web3 projects have a token? (14:15) Should every DAO have a token? (18:00) Join web3CFOclub and network with high profile web3 CFOs (18:51) Benchmarks for token allocations for team, treasury & community (21:27) Token allocation strategy for the community (22:52) Token allocation strategy for the investors (25:17) What is Liquifi and overview of features (26:51) Onboarding process at Liquifi (29:23) Pricing structure of Liquifi (31:04) Difference between vesting & streaming tokens (32:17) How to manage token performance with token lock-ups (35:26) Main challenge for adoption is understanding token's utility (37:10) Upcoming features/milestones of Liquifi (39:00) Brought to you by Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations

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 system, I spoke to Thibaut Sahaghian, the CEO and founder of Multis. Multis allows organizations to manage their crypto treasury & cash flow, run crypto payroll, track spending across wallets, and have recently launched corporate cards to allow your business to off ramp and pay in USD within a few seconds. Topics covered; Thibaut's story into blockchain and how Multis started (2:21) Mindset change required to move one's business on crypto (self-custody, logging transactions) (4:27) What is Multis and its main features (7:01) Importance of having a multisig wallet, and why Multis choose Gnosis Safe (9:48) AR & AP workflows , and the need for specialized web3 tools like Request Network (12:32) Payroll process and how Multis allows batching of salaries to save time & money (14:17) Off ramping with Multis corporate cards to exchange crypto and spend in USD (17:00) Application process to get a Multis crypto corporate card (18:18) Product market fit for Multis & their target audience in next 12 months (22:57) Challenges faced by Multis for adoption (24:30) How to upskill staff when building a business on crypto (26:32) Closing thoughts on the easiest step to transition a business on crypto (28:44) Brought to you by Request Finance - an all in one platform to manage and track invoices, salaries & expenses in crypto.

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 system and blockchain without the need to use crypto exchanges is Monerium. Everyone understands how IBANs work, and using a blockchain IBAN, you are able to move funds from your bank account to your crypto wallet in a few seconds through the Monerium platform. To discuss how your wallet is now your bank account, I spoke to Gísli Kristjánsson, the co-founder and CTO of Monerium. Topics covered; How Gísli's got interested with blockchain and founded Monerium (2:15) How money moves around the current banking system (6:38) What is Monerium and what are e-money (11:49) How to use Monerium to send money directly from bank account to crypto wallet (13:24) Minting process for e-money, and how it compares to stablecoins (19:32) Gas fees/transaction fees when using Monerium platform (22:46) How to get started with Monerium (24:38) Is Monerium a bank, and what happens to reserves if Monerium goes bankrupt (29:02) How to make e-money business profitable with negative interest rates in EU (32:39) Building on Monerium and using the open source API (using Request Network as example) (35:58) Challenges faced by Monerium for crypto adoption (40:35) Upcoming new features & partnerships (Request Finance, Superfluid) (43:12) Closing thoughts on Monerium's infrastructure to change how the world works (47:47) Brought to you by Request Finance - an all in one platform to manage and track invoices, salaries & expenses in crypto.