cfo

According to market news, Nevin Shetty (42) from Washington State, USA, secretly transferred $35 million of company funds to his own DeFi platform HighTower Treasury while serving as CFO of a private software company, investing in high-yield lending protocols, which later resulted in the funds nearly being wiped out due to the Terra crash.The incident led to the company laying off 60 employees and nearly going bankrupt. Shetty was convicted of four counts of wire fraud, sentenced to two years in prison, ordered to pay $35 million in restitution, and will be subject to three years of supervised release after his release, during which he is prohibited from holding any executive position in any company without approval.

According to FinanceFeeds, Siddarth Bharwani, Joint Managing Director and Chief Financial Officer of Indian IT vocational training company Jetking Infotrain, stated on February 22 at the "Corporate Bitcoin" event in Las Vegas that the company will firmly advance its Bitcoin-based strategy.Jetking launched its Bitcoin reserve plan at the end of 2024, becoming the first listed company in India to list Bitcoin as a primary reserve asset. It currently holds 21 Bitcoins, valued at approximately $1.4 million, accounting for more than a quarter of the company's total market capitalization. Bharwani stated that this move aims to hedge against the long-term depreciation risk of the Indian Rupee, using Michael Saylor and Strategy as a strategic blueprint. The company's goal is to accumulate 210 Bitcoins by the end of 2026 and expand its holdings to 18,000 Bitcoins by 2030.On the regulatory front, the Bombay Stock Exchange (BSE) recently rejected Jetking's proposal to issue new shares for cryptocurrency investment purposes, citing a lack of a clear framework. However, Bharwani stated that the company is actively responding and views the current resistance as a "regulatory arbitrage opportunity" for early entrants.In addition to balance sheet management, Jetking is also incorporating Bitcoin and blockchain education into its vocational training programs. With over 100 training centers, the company trains 35,000 students annually, aiming to create a "Bitcoin learning ecosystem."Bharwani noted that as the ruling party in India begins discussions on a potential national Bitcoin strategic reserve, Jetking's exploratory practices are expected to provide a reference for the entire Asia-Pacific region.

JPMorgan Chase's Chief Financial Officer Jeremy Barnum stated during the company's fourth-quarter earnings call that JPMorgan supports blockchain technology and financial innovation, but holds a clear cautious attitude towards the design of certain yield-bearing stablecoins, believing they could replicate traditional banking functions in the absence of appropriate prudent regulation, thereby creating a "dangerous and unwelcome parallel banking system."Barnum pointed out that the bank's stance aligns with the regulatory intent set forth by the GENIUS Act, which aims to establish clear boundaries for stablecoin issuance. He emphasized that if stablecoins possess characteristics similar to "interest-bearing deposits" but do not adhere to the capital, risk control, and compliance requirements that have gradually developed over centuries of banking regulation, they would pose risks to the existing regulated financial system.While JPMorgan welcomes competition and innovation, it does not support "shadow" banking structures that circumvent existing regulatory frameworks. At the legislative level, the issue of stablecoin "yields" has become one of the core divergences during the U.S. Congress's review of the "Digital Asset Market Structure Act."The latest revised draft indicates that lawmakers are inclined to prohibit digital asset service providers from paying interest or yields to users solely for holding stablecoins, to avoid their functions being equivalent to bank deposits; at the same time, the draft still leaves room for incentive mechanisms related to liquidity provision, governance participation, staking, and other network activities.

According to PR Newswire, Bitmine, an Ethereum treasury company listed on NYSE American, disclosed executive updates, announcing the appointment of Young Kim, Partner and Senior Portfolio Manager at Axiom Investors, as Chief Financial Officer (CFO) and Chief Operating Officer (COO), reporting directly to Chairman Thomas "Tom" Lee. This appointment is effective immediately.It is reported that Young Kim also served as a Senior Portfolio Manager at Columbia Threadneedle Investments for ten years.

According to Jin10, Citigroup's Chief Financial Officer expects the Federal Reserve to cut interest rates this week.

According to Decrypt, Nevin Shetty, the former CFO of a software company in Washington State, was found guilty by a federal jury on four counts of wire fraud for unlawfully transferring $35 million of company funds to his self-built crypto platform and investing in high-risk DeFi protocols.Shetty secretly transferred company funds in 2022 after learning he would be fired, initially profiting about $133,000, but his investments nearly went to zero after the collapse of the Terra ecosystem in May 2022. He subsequently admitted to his actions and was fired by the company. Shetty is scheduled to be sentenced in February next year, facing a maximum of 20 years in prison.

OpenAI Chief Financial Officer Sarah Friar stated today that the market is overly worried and focused on the potential bubble in the field of artificial intelligence, and should show more "enthusiasm" for the potential of this AI technology. Friar said, "When I think about the actual impact of AI and its impact on individuals, I believe that people's enthusiasm for AI is not enough. We should continue to work hard."Recently, to support the construction of its AI data centers, OpenAI has reached a series of significant deals with Nvidia and AMD, which have been criticized as "internal circular financing arrangements." Friar denied this circularity and stated, "What we are currently doing is building a complete infrastructure to bring more computing into this world. I don't think this is circular at all. A lot of the work last year was to diversify the supply chain."

ChainCatcher news, according to Jin10, the CFO of a major American bank expects the Federal Reserve to cut interest rates twice more this year.

ChainCatcher news, according to Bloomberg, PayPal's head of capital markets David Knox has left to join digital asset treasury company Hyperion DeFi as Chief Financial Officer.It is reported that Hyperion DeFi is a U.S. publicly traded company dedicated to the long-term strategic reserve of the Hyperliquid native token HYPE.

ChainCatcher News, the CFO of Bank of America stated that as the regulatory framework becomes clearer, banks will be able to offer customers services related to stablecoins. He noted that banks can either independently develop stablecoins or choose to collaborate with industry partners for development.

ChainCatcher news, according to a court announcement, U.S. District Court Judge William Alsup has sentenced former CEO Daniel Schatt and CFO Joseph Podulka of the cryptocurrency lending institution Cred LLC to 52 months and 36 months of federal imprisonment, respectively, for conspiracy to commit wire fraud.In addition to imprisonment, Judge Alsup also sentenced Schatt and Podulka to three years of supervised release and ordered them to pay a fine of $25,000. The defendants are set to begin their sentences on October 28, 2025. Judge Alsup has scheduled a restitution hearing for October 7, 2025.According to the plea agreement, Schatt and Podulka conspired to provide incomplete and misleading positive descriptions of Cred's business while failing to disclose significant negative information regarding the challenges and risks facing Cred's business, which would harm Cred's customers.On November 7, 2020, Cred filed for bankruptcy. In the Cred bankruptcy proceedings, customers and investors of Cred submitted over 6,000 claims totaling more than $140 million.According to the government's sentencing memorandum, based on the valuation of various cryptocurrencies as of August 2025, the total amount of these claims exceeds $1 billion.

ChainCatcher news, according to Bitcoin Magazine, Amrita Ahuja, CFO of the crypto fintech company Block founded by Twitter co-founder Jack Dorsey, stated in an interview with CNBC that Bitcoin has the potential to become an open protocol for the internet, enhancing its speed and efficiency.Block Inc. plans to continue investing in Bitcoin, extracting 10% of its monthly gross profits from Bitcoin products to purchase Bitcoin as a long-term strategy. Amrita Ahuja believes that Bitcoin is not just digital gold, but it may also evolve into a currency, with thousands of merchants already signing agreements to accept Bitcoin payments.

ChainCatcher news, according to Cointelegraph, based on Deloitte's survey of Chief Financial Officers (CFOs) in the second quarter of 2025, cryptocurrency is becoming a priority for corporate financial planning, with 99% of billion-dollar company CFOs expecting to use it in business scenarios in the long term.The survey covered 200 CFOs from companies with annual revenues exceeding $1 billion, of which 23% expect their finance departments to use cryptocurrency for investments or payments within the next two years. Among companies with annual revenues exceeding $10 billion, this proportion is close to 40%.Despite the strong adoption trend, financial executives remain cautious. Price volatility is the primary barrier to adopting non-stablecoins, with 43% of respondents indicating this as a major concern. Other significant concerns include complex accounting treatment (42%) and regulatory uncertainty (40%), the latter being particularly influenced by changes in U.S. policy.

ChainCatcher news, according to PR Newswire, Nasdaq-listed company Canaan Inc. announced that its CEO Nangeng Zhang and CFO James Jin Cheng have increased their holdings in the company's stock in the open market, collectively purchasing 817,268 ADS at an average price of $0.76 per share.

ChainCatcher news, according to Cointelegraph, the former CEO of the bankrupt crypto lending service platform Cred, Daniel Schatt, and former CFO Joseph Podulka have pleaded guilty to telecommunications fraud in a California district court. Judge William Alsup accepted the plea agreement and scheduled the sentencing hearing for August 26.According to the plea agreement, the two defendants admitted to selectively presenting positive information while concealing negative news to induce users to lend fiat and digital currencies to Cred. The prosecution recommended a maximum sentence of 72 months in prison for Schatt and 62 months for Podulka.Cred filed for bankruptcy in November 2020, resulting in user losses of up to $150 million.

ChainCatcher news, according to CoinDesk, the crypto custody company Zodia Custody, supported by Standard Chartered, SBI, and others, confirmed that its Chief Financial Officer Jonathan Hugh left earlier this year, following the departure of Chief Operating Officer Samuel Howe.Despite the executive changes, the company stated that its workforce has grown from 97 employees in 2023 to the current 140, and it will continue to expand its global business in 2025.

ChainCatcher news, according to Barron's, three executives from Strategy took advantage of the company's recent preferred stock issuance opportunity to snap up shares priced low with a yield close to 12%.According to disclosures filed with the U.S. Securities and Exchange Commission, several insiders from Strategy (formerly MicroStrategy) purchased its latest issued preferred stock, including the company's CEO, CFO, and other executives. CEO Phong Le purchased 6,000 shares of preferred stock at a price of $85, CFO Andrew Kang bought 1,500 shares, and General Counsel Wei-Ming Shao acquired 500 shares.Strategy previously announced the issuance of 5 million Series A Perpetual Preferred Stock with a par value of $100 per share, which will raise $500 million in incremental funds to implement its Bitcoin strategy, but later increased the issuance to 8.5 million shares, with the price per share also lowered to $85.

ChainCatcher news, cryptocurrency exchange platform Gemini has appointed Dan Chen as the new Chief Financial Officer (CFO), possibly preparing for a potential IPO. Chen, who previously served as Vice President of Capital Markets at Affirm, stated: "Cryptocurrency is the most dynamic industry in the financial sector, and Gemini is at the forefront of this revolution, enabling users to participate in the digital asset market in a simple and secure way."