ConsenSys, the leading Ethereum and Web3 software company, is delighted to announce that veteran financial leader, Phil Davis, is joining the firm and will assume the role of Chief Financial Officer (CFO). Davis joins ConsenSys from Afiniti, where he was the company’s CFO. He brings a variety of other experiences from earlier in his career, including investment banking at Goldman Sachs, strategy and corporate finance consulting at McKinsey, and advanced data science and algorithm design experience at the MIT Media Lab and MIT Lincoln Lab.
Davis will oversee ConsenSys’ finance and accounting functions, including expanding the company’s pioneering treasury strategy. ConsenSys has long maintained a significant treasury of ETH, stablecoins and other crypto tokens that support projects across the Web3 ecosystem, and actively uses its own financial infrastructure, including MetaMask Institutional and Codefi Staking, to put these assets to work in DeFi protocols and via staking. This appointment comes following ConsenSys’ Series D raise of $450m last month, valuing the Web3 leader at over $7bn.
Commenting on today’s appointment, Joseph Lubin, Co-Founder of Ethereum and Founder and CEO of ConsenSys, said: “We are delighted to have Phil join us at this critical time in the growth of our company. To paraphrase Marc Andreessen, ‘decentralized software will eat the world’ and understanding that Decentralized Finance will soon just be called Finance, a new kind of company like ConsenSys, which takes in thousands of different kinds of tokens in exchange for its products and services, needs a CFO that is not only world class with respect to traditional finance functions but who also possesses the deep technical chops to build next generation crypto financial accounting, treasury management and analytics tooling. In Phil we’ve found that rare breed. Phil’s experience in the field is unparalleled, and will benefit us massively as we continue to strategically deploy our financial resources across the ecosystem, and look toward potentially raising the first ever ‘Series ETH’ investment round.”
Commenting on his new role, Phil said, “I have long admired ConsenSys’ business and the firm’s reputation in designing the foundational software for the next wave of the internet, Web3. I’m a firm believer in ConsenSys’ mission to support and build a fairer, more inclusive and transparent digital economy, and am thrilled to take on this role during such a pivotal time in the company’s evolution. ConsenSys’s finance department is executing a treasury strategy which is entirely at the vanguard of current financial practice, and it’s incredibly exciting to be leading a team whose approach will likely come to be emulated across the Web3 ecosystem in years to come.”