Episode 47 | Mo Yang from Fuel Labs on Becoming a Web3 CFO

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💌Join our weekly free newsletter and become a confident web3 Accountant ⁠⁠⁠https://www.theaccountantquits.com/newsletter⁠⁠⁠🙌 Join the next cohort of the Crypto Accounting Academy and learn how to manage a business using crypto ⁠⁠⁠https://www.theaccountantquits.com/crypto-accounting-academy⁠⁠⁠ ✊ Follow The Accountant Quits on Socials👉 LinkedIN: ⁠⁠⁠https://www.linkedin.com/school/the-accountant-quits⁠⁠⁠ 👉 Twitter(X): ⁠⁠⁠https://x.com/accountantquits⁠⁠⁠ 👉 YouTube: ⁠⁠⁠https://www.youtube.com/@theaccountantquits⁠⁠⁠ 🎙️ Follow Episode GuestChandan Lodha: https://www.linkedin.com/in/clodha/ ⁠⁠⁠⁠🎧 WebsiteFor show notes and past guests, please visit ⁠⁠⁠https://www.theaccountantquits.com/podcast⁠⁠⁠ Topics Covered;(0:00) Coming Up(0:41) Episode intro(2:25) Founding CoinTracker(4:29) How did Google work experience help(6:42) Challenges for businesses with crypto accounting(9:16) Why launch a subledger(14:21) Thanks to our sponsor Octav(16:03) How to build a subledger(19:42) Crypto tax tool v/s subledger(22:34) Should subledger offer AR/AP features(27:14) CoinTracker Enterprise & its subledger features(30:18) Can enterprise users generate tax reports(32:36) Learnings building a subledger(35:58) Thanks to our sponsor Request Finance(37:39) Marketing CoinTracker Enterprise(40:34) Upcoming features(41:35) Career opportunities for accountants with crypto(43:46) Practical steps to start using crypto in a business(45:43) Closing Thoughts(46:58) Get $500 off from CoinTracker Enterprise(47:20) Favourite quote

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💌Join our weekly free newsletter and become a confident web3 Accountant ⁠⁠https://www.theaccountantquits.com/newsletter⁠⁠🙌 Join the next cohort of the Crypto Accounting Academy and learn how to manage a business using crypto ⁠⁠https://www.theaccountantquits.com/crypto-accounting-academy⁠⁠ ✊ Follow The Accountant Quits on Socials👉 LinkedIN: ⁠⁠https://www.linkedin.com/school/the-accountant-quits⁠⁠ 👉 Twitter(X): ⁠⁠https://x.com/accountantquits⁠⁠ 👉 YouTube: ⁠⁠https://www.youtube.com/@theaccountantquits⁠⁠ 🎙️ Follow Episode GuestNauman Mustafa: ⁠https://www.linkedin.com/in/naumannazim/🎧 WebsiteFor show notes and past guests, please visit ⁠⁠https://www.theaccountantquits.com/podcast⁠⁠ Topics Covered;(0:00) Coming Up(0:55) Episode intro(3:00) Why launch a web3 Fractional CFO practice?(8:57) Fractional CFO v/s full-time CFO(13:11) Costs of hiring a Fractional CFO(19:57) Get 14 days for free on Octav(21:38) Pricing mistakes as a Founder(27:01) How to onboard a new client(30:43) Fundraising & CFO role(33:11) Knowledge gaps for a web2 CFO with fundraising(34:53) Get 2 months for free on Request Finance(36:30) Hiring & building a team(41:30) Systems that can scale a Fractional CFO practice(43:12) Web2 & web3 tech stack(45:48) HashLedger CFO services(49:24) Advice for accountants to work in web3(52:42) Nauman’s maxim(53:29) Reach out to Nauman

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💌Join our weekly free newsletter and become a confident web3 Accountant ⁠https://www.theaccountantquits.com/newsletter⁠🙌 Join the next cohort of the Crypto Accounting Academy and learn how to manage a business using crypto ⁠https://www.theaccountantquits.com/crypto-accounting-academy⁠ ✊ Follow The Accountant Quits on Socials👉 LinkedIN: ⁠https://www.linkedin.com/school/the-accountant-quits⁠ 👉 Twitter(X): ⁠https://x.com/accountantquits⁠ 👉 YouTube: ⁠https://www.youtube.com/@theaccountantquits⁠ 🎙️ Follow Episode GuestMathieu Baril: https://www.linkedin.com/in/mbaril010/🎧 WebsiteFor show notes and past guests, please visit ⁠https://www.theaccountantquits.com/podcast⁠ Topics Covered;(0:00) Coming Up(0:57) Episode intro(2:44) Mathieu’s background & story founding Octav(4:52) Cashflow forecasts for web3 startups(6:31) Investor updates learnings(7:56) Metrics for startups(8:50) Risk management with crypto(10:58) Sequoia anecdote(12:29)  DeFi v/s TradFi investments(16:16)  Generating yield in DeFi & borrowing with your tokens(17:59) Thanks to our sponsor Request Finance(19:37) Insurance cover for DeFi(21:18) Tokenized T-Bills v/s DeFi LPs(23:19) Octav as a DeFi data provider(24:42) Subledgers v/s Octav(26:53) How Beefy Finance uses Octav(28:24) Machine learning model of Octav(30:20) Pricing per wallet address(31:27) Working with family offices(34:07) Challenges building Octav(36:13) Working with accounting & tax firms(38:51) Education around web3 treasury management(39:55) Favourite maxim(41:05) Reach out to Mathieu

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💌Join our weekly free newsletter and become a confident web3 Accountant https://www.theaccountantquits.com/newsletter🙌 Join the next cohort of the Crypto Accounting Academy and learn how to manage a business using crypto https://www.theaccountantquits.com/crypto-accounting-academy✊ Follow The Accountant Quits on Socials👉 LinkedIN: https://www.linkedin.com/school/the-accountant-quits 👉 Twitter(X): https://x.com/accountantquits 👉 YouTube: https://www.youtube.com/@theaccountantquits 🎙️ Follow Episode GuestAntoine Scalia: https://www.linkedin.com/in/antoine-scalia/ 🎧 WebsiteFor show notes and past guests, please visit https://www.theaccountantquits.com/podcast Topics Covered:(0:00) Coming Up(0:55) Episode intro(3:08) Series A extension raise & what has changed since 2021(6:16) Macroeconomic shifts happening(8:41) Company culture & branding(12:49) Learnings from hiring(15:57) Does 100% remote work?(17:29) Lack of transparent pricing with subledgers(22:47) How to choose the right Cryptio product( 24:46) Thanks to our sponsor Octav(26:27) What is Cryptio Bedrock(30:41) Fair value module & roll forward reports(34:13) Choosing multiple pricing sources for principal market(36:35) How does Cryptio support a new blockchain(38:39) SOC reports for subledgers(45:22) Use cases for SOC reports(49:15) Audit readiness module(52:41) Thanks to our sponsor Request Finance(54:21) Should subledgers offer payment & main ledger features?(59:47) Multi inventory feature for custodians & exchanges(01:04:51) Gaps in crypto accounting education(01:08:47) Learning habits(01:11:13) Are you surprised by your success?(01:13:44) Career opportunities at Cryptio(01:14:44) Reach out to Antoine

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💌Join our weekly free newsletter and become a confident web3 Accountant https://www.theaccountantquits.com/newsletter🙌 Join the next cohort of the Crypto Accounting Academy and learn how to manage a business using crypto https://www.theaccountantquits.com/crypto-accounting-academy ✊ Follow The Accountant Quits on Socials👉 LinkedIN: https://www.linkedin.com/school/the-accountant-quits 👉 Twitter(X): https://x.com/accountantquits 👉 YouTube: https://www.youtube.com/@theaccountantquits 🎙️ Follow Episode GuestTarun Gupta: https://www.linkedin.com/in/tarun-gupta-1a0973a1/  🎧 WebsiteFor show notes and past guests, please visit https://www.theaccountantquits.com/podcast Topics covered; (0:00) Coming Up(0:48) Episode intro(2:42)  Why pivot & launch a stablecoin(10:27) Business model for payments(12:25) Business model of stablecoin issuers( 17:51) Thanks to our sponsor ⁠Octav⁠(19:32) Coinshift’s new stablecoin, csUSDL(21:20) Paxos USDL v/s Circle USDC(23:25) Morpho & Steakhouse Financial(27:11) UX of minting csUSDL(28:54) Paxos USDL & regulatory constraints(31:05) USDC and USDT v/s csUSDL(34:33) Thanks to our sponsor ⁠Request Finance⁠(36:11) Challenges on csUSDL liquidity(38:19) Team challenges in 2024(40:11) Coinshift DAO & SHIFT token(42:54) Coinshift’s vision(45:08) Lessons learned as a Founder(50:36) Reach out to Tarun

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 💌 Join our weekly free newsletter and become a confident web3 Accountant ⁠⁠https://www.theaccountantquits.com/newsletter⁠⁠ 🙌 Join the next cohort of the Crypto Accounting Academy and learn how to manage a business using crypto ⁠⁠https://www.theaccountantquits.com/crypto-accounting-academy⁠⁠  ✊ Follow The Accountant Quits on Socials 👉 LinkedIN: ⁠⁠https://www.linkedin.com/school/the-accountant-quits⁠⁠  👉 Twitter(X): ⁠⁠https://x.com/accountantquits⁠⁠  👉 YouTube: ⁠⁠https://www.youtube.com/@theaccountantquits⁠⁠  🎙️ Follow Episode Guest Ben Roy: https://www.linkedin.com/in/ben-roy-9a9a712/ 🎧 Website For show notes and past guests, please visit ⁠⁠https://www.theaccountantquits.com/podcast Topics covered; (0:00) Coming Up (0:55) Episode intro (2:49) Noves origin story (4:32) The current state blockchains, protocols, & tokens (8:06)  Why isn’t blockchain data formatted for accounting and tax reporting (12:24) Will onchain data become more standardized (14:22) Should sub-ledgers tackle the data problem (16:25) What should be the sub-ledger role ( 18:50) Thanks to our sponsor Octav (20:31) How does Noves help with managing onchain data (22:56) Use cases for Noves (24:27) How can accountants use Noves (26:27) API products (29:06) Thanks to our sponsor Request Finance (30:46) Positioning against competitors like Datai, Octav, DeBank (33:55) AI agents for onchain data (37:50) Closing thoughts (39:42) Reach out to Ben

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 💌 Join our weekly free newsletter and become a confident web3 Accountant ⁠https://www.theaccountantquits.com/newsletter⁠ 🙌 Join the next cohort of the Crypto Accounting Academy and learn how to manage a business using crypto ⁠https://www.theaccountantquits.com/crypto-accounting-academy⁠  ✊ Follow The Accountant Quits on Socials 👉 LinkedIN: ⁠https://www.linkedin.com/school/the-accountant-quits⁠  👉 Twitter(X): ⁠https://x.com/accountantquits⁠  👉 YouTube: ⁠https://www.youtube.com/@theaccountantquits⁠  🎙️ Follow Episode Guests 1. Skip Carlson, Digital Assets Market Leader: https://www.linkedin.com/in/sterlingcarlson/ 2. John Cardone, Senior Tax Director: https://www.linkedin.com/in/john-cardone-436412b1/ 🎧 Website For show notes and past guests, please visit ⁠https://www.theaccountantquits.com/podcast Topics Covered: (0:00) Coming Up (0:44) Episode intro (2:59) Guests intro & roles at RSM (4:21) Safe harbor relief & wallet-level tracking (9:11) How IRS defines a wallet (11:02) What to look for in a subledger with wallet-level tracking (12:45)  TD 121 and new broker reporting requirements (18:49) Notice 25-7 for taxpayers holding crypto with brokers ( 22:34) Thanks to our sponsor Octav ( 24:16) Created Property Argument & staking rewards (30:09) Role of node operator’s geography for recognizing revenue (31:51) Thanks to our sponsor Request Finance (33:30) Frozen staking rewards on exchanges (35:45) Valuing airdrops (38:59) Token migrations and tax liabilities (43:13) New regulations under Trump’s administration (44:33) Stand out US states for crypto (46:26) RSM services for digital assets (51:15) Upskilling RSM employees with blockchain (53:20) Areas to pay attention to in 2025 (56:24) Favorite maxim (57:29) How to reach out to John & Skip

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 💌 Join our weekly free newsletter and become a confident web3 Accountant ⁠https://www.theaccountantquits.com/newsletter⁠ 🙌 Join the next cohort of the Crypto Accounting Academy and learn how to manage a business using crypto ⁠https://www.theaccountantquits.com/crypto-accounting-academy⁠  ✊ Follow The Accountant Quits on Socials 👉 LinkedIN: ⁠https://www.linkedin.com/school/the-accountant-quits⁠  👉 Twitter(X): ⁠https://x.com/accountantquits⁠  👉 YouTube: ⁠https://www.youtube.com/@theaccountantquits⁠  🎧 Website For show notes and past guests, please visit ⁠https://www.theaccountantquits.com/podcast⁠ Topics Covered; (0:00) Intro (1:14) Crypto Accounting Academy Growth (4:22) Students’ feedback (5:14) New modules (8:59) Crypto Accounting Accelerator launch (9:57) Podcast recipe for consistency (12:13) Building an email list & weekly newsletter (13:59) Share your thought leadership through articles (15:51) Tools library for crypto accounting (16:45) Lessons from conferences in 2024 (19:29) New courses in 2025 (21:48) New community offering (22:35) NASBA accreditation (24:13) Closing thoughts and quote

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 💌 Join our weekly free newsletter and become a confident web3 Accountant https://www.theaccountantquits.com/newsletter 🙌 Join the next cohort of the Crypto Accounting Academy and learn how to manage a business using crypto https://www.theaccountantquits.com/crypto-accounting-academy  ✊ Follow The Accountant Quits on Socials 👉 LinkedIN: https://www.linkedin.com/school/the-accountant-quits  👉 Twitter(X): https://x.com/accountantquits  👉 YouTube: https://www.youtube.com/@theaccountantquits  🎙️ Follow Episode GuestsLinkedin: https://www.linkedin.com/in/karel-olivier/ 🎧 Website For show notes and past guests, please visit https://www.theaccountantquits.com/podcast Topics Covered; (0:00) Coming Up (0:50) Episode intro (2:55) Why Cayman Islands & incorporation set up (5:43) Roles of directors, secretary, supervisor & DAO administrator (8:27) DAO operator v/s DAO administrator (9:36) Should director & DAO operator be the same person (12:30) Role of supervisor with governance (15:23) Join the next cohort of the Crypto Accounting Academy (18:11) Pre-TGE, TGE & Post-TGE (25:11) Highlights of the 2024 amended VASP Act (27:28) Paragraph 8b on vested interest for directors (30:08) Governance process for DAOs & tools (33:59) ENS governance process (35:37) Thanks to our sponsor Request Finance (37:18) Opening a bank account & crypto-friendly banks (39:48) Other important service providers (42:15) Common mistakes around grants program (52:36) Lemma services for pre-TGE, TGE, post-TGE (56:04) Story behind Lemma’s name (57:55) Filing requirements for DAO foundations (59:45) Financial reporting of DAO to the community (1:02:15) Closing thoughts (1:04:03) Does Lemma work with other jurisdictions (1:05:47) Karel’s favorite quote (1:07:32) Reach out to Karel

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 💌 Join our weekly free newsletter and become a confident web3 Accountant ⁠https://www.theaccountantquits.com/newsletter⁠ 🙌 Join the next cohort of the Crypto Accounting Academy and learn how to manage a business using crypto https://www.theaccountantquits.com/crypto-accounting-academy  ✊ Follow The Accountant Quits on Socials 👉 LinkedIN: https://www.linkedin.com/school/the-accountant-quits  👉 Twitter(X): https://x.com/accountantquits  👉 YouTube: https://www.youtube.com/@theaccountantquits  🎙️ Follow Episode Guests Linkedin: https://www.linkedin.com/in/zachoggcpa/  🎧 Website For show notes and past guests, please visit https://www.theaccountantquits.com/podcast Topics Covered: (0:00) Coming Up (0:56) Episode intro (2:59) Experience working at PwC (9:29) Getting a job at eToro (15:04) Why work in web3 (17:06) Join the next cohort of the Crypto Accounting Academy (19:53) Getting hired at Solana Foundation (22:28) First responsibilities (26:33) Helpful resources when starting out (30:52) Size of the team (33:45) Solana’s growing ecosystem & impact on Finance team (35:35) Web3 tools that integrate with Solana (43:31) Thanks to our sponsor Request Finance (45:10) Tools to track staked assets & staking rewards on Solana (48:16) Subledgers & staking features (50:31) External audit learnings (58:42) Web2 accountant v/s web3 accountant (1:03:40) Exciting projects on Solana (1:06:48) Career opportunities in web3