The race of companies to bring tokens onto their balance sheets takes a leap forward. Hyperion DeFi hires former PayPal head of capital markets, David Knox, as chief financial officer. The appointment, announced on September 29, 2025, by Bloomberg, marks a more mature phase of corporate crypto treasury, in line with the evolution of the financial function in companies more exposed to digital. According to data collected by our research desk and conversations with CFOs of digital-first companies, in the period 2023–2025, requests for revisions of treasury policies with exposure to crypto have grown significantly, with an increasing focus on custody, limits, and controls. Industry analysts observe an increase in formal due diligence and reporting procedures for wallets and service providers. In the companies we have collaborated with, the adoption of structured governance rules has accelerated the dialogue with external auditors and the board of directors.