Blockchain & Crypto Accounting Services

Propeller Industries delivers enterprise-grade blockchain and cryptocurrency accounting services specifically designed for Web3 companies, foundations, and digital asset projects navigating the complexities of crypto financial management.

Service Overview

Established in 2019 with Solana Labs as the first blockchain client, Propeller's dedicated crypto practice has grown to serve 75+ blockchain engagements representing $70B in token market capitalization. The specialized team of 12 US-based full-time crypto finance and accounting specialists brings deep expertise across Layer 1 blockchains, infrastructure projects, Web3 applications, NFT and gaming companies, media platforms, and foundations. The practice has processed over 500M on-chain transactions translated to QuickBooks Online and supported clients in raising $1B in VC funding.

What's Included

Proprietary Crypto Financial Statements

• Statement of Digital Assets (SoDA) - proprietary financial statement for crypto holdings
• Balance sheet reconciliation and schedules for digital assets
• Crypto subledger setup and maintenance
• Customized month-end close reporting with budget vs. actual analysis
• Weekly bank reconciliations for both fiat and crypto accounts

Comprehensive Accounting Operations

• Accounts payable and receivable including on-chain transactions
• Cash applications for fiat and crypto transactions
• Payroll processing with crypto compensation support
• Multi-level approval workflows for vendor payments
• Tax and compliance support including 1099 reporting
• Integration of sales tax software

Strategic Finance & Advisory

• FP&A support with crypto-specific financial modeling
• Monthly and quarterly board reporting tailored for blockchain companies
• Borrowing base financing support
• Fractional CFO services with veteran Web3 expertise
• Fundraising guidance and investor relations management
• Benchmark reporting using proprietary data from similar Web3 companies

Technology & Systems

• QuickBooks Online integration with on-chain transaction processing
• Crypto subledger management and reconciliation
• Evaluation and implementation of crypto-specific accounting tools
• Process optimization to improve efficiency and accuracy

Why Choose Propeller Industries

Propeller's blockchain accounting team offers unique competitive advantages built on six years of specialized crypto experience. The portfolio approach enables sub-vertical benchmarking across different blockchain ecosystems (L1s, L2s, dApps), providing insights unavailable from generalist accountants. Pattern recognition from serving diverse Web3 companies - from Solana Labs and Optimism to Rarible and Gitcoin - translates to best practices for digital asset accounting, regulatory compliance, and operational efficiency.

The team maintains partnerships with leading crypto industry service providers for tax, legal, audit, and regulatory needs, ensuring clients receive coordinated support across all compliance requirements. Propeller contributes thought leadership through the Statement of Digital Assets (SoDA) whitepaper and maintains active participation in major industry conferences including Consensus, Mainnet, Breakpoint, and Moonclave.

The fractional model provides access to enterprise-grade financial expertise without the cost and commitment of full-time hires, while the technology-enabled platform delivers real-time financial visibility through best-in-class systems and workflow optimization tools.