The Accountant Quits Podcast

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 additi...

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...

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...

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 cry...

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 u...

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 ou...

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 Foun...

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...

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 th...

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...

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 e...

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....

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...

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....

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 mains...

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...

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...

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...

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...

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...

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, throu...

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...

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...

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...

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 b...