NODE40

NODE40 is an enterprise digital asset accounting and reporting platform that transforms raw blockchain transaction data into defensible financial records suitable for institutional audit, tax compliance, and treasury governance. Founded in 2015, the company began as the first staking infrastructure provider in the cryptocurrency industry before pivoting to solve the accounting problem that grew directly from its own operations: how to produce records that could be explained and evidenced to auditors, not merely calculated by software.

Origin and Founding

NODE40 was established in 2015 by Perry Woodin (CEO) and Sean Ryan (CTO). The founders originally needed to report cryptocurrency payments received as income but found existing tax solutions inadequate for producing the kind of defensible audit trail a finance team would need. They built an internal application to process transaction data and track their own compliance position. That internal tool became the foundation of the enterprise platform the company offers today. Woodin has spent over two decades in blockchain accounting and software development; Ryan oversees corporate security, software services, research and development, and business development.

The Core Problem

NODE40's central premise is that generating a number is the easy part — defending how that number was produced is where most crypto accounting workflows break down. Many teams can generate tax reports or portfolio summaries, but those reports carry implicit assumptions about transfer linking, lot assignment, staking reward classification, and cost basis methodology that cannot be traced back to documented decisions. When an auditor, investor, or regulator asks for evidence, the team cannot reconstruct why a particular figure was reached. NODE40 positions its platform as the infrastructure layer that makes every accounting conclusion traceable to a source record, a documented decision, and an explicit control.

Bedrock: The Enterprise Accounting Platform

The company's current flagship product is Bedrock, a governed digital asset treasury accounting system covering lot-level tax decisions, transfer evidence, reporting, and audit controls. Bedrock is designed for treasury teams, accounting firms, wealth management firms, and other organizations that need their digital asset accounting to stand up to the same scrutiny as traditional financial records.

Key capabilities of Bedrock include:

Lot selection governance. Rather than silently applying a default accounting method such as FIFO, Bedrock allows treasury teams to establish and document lot-selection policies. The same transaction can produce meaningfully different outcomes under different policies, and Bedrock surfaces those differences explicitly rather than absorbing them into a single automated output.

Transfer confidence tracking. Every inter-wallet transfer carries a visible confidence score backed by specific evidence — shared transaction hashes, matching wallet addresses, or aligned amounts and timestamps. This preserves acquisition dates and cost basis across wallet movements with a documented chain of custody rather than an inferred link.

Governance and audit controls. Closed accounting periods function as real boundaries that prevent retroactive data changes. Manual entries and value overrides are attributed and badged so they are visible to reviewers. An append-only audit trail records all changes. Reconciliation shortfalls surface explicitly rather than being silently resolved or written off.

DeFi and multi-chain activity. Bedrock handles complex protocol activity including swaps, liquidity provision, and staking across multiple blockchains, applying protocol-aware classification rather than generic transaction parsing.

Written options support. The platform includes controls for covered calls and cash-secured puts, addressing the growing use of digital asset options in institutional treasury management.

Solana Specialization

NODE40 has developed specific infrastructure for Solana validator and staking accounting, a use case that generic crypto tax tools handle poorly. Solana validator income is structurally more complex than a simple token receipt: it involves inflation rewards, Jito MEV tips, and transaction fees arriving at different intervals across multiple stake accounts, with vote costs representing an ongoing expense that must be matched against gross income to arrive at net yield.

NODE40's Solana reporting breaks validator income into these components at the transaction level, converts each amount to USD at the time of receipt using market data, and applies cost basis and realized gain or loss to every subsequent token movement. The platform tracks stake account context through delegation changes, undelegation events, and reward epochs so that the full history of a stake position is preserved in the accounting record. For staking operators, accounting firms serving validator clients, and institutional stakers preparing for ETF-related disclosures, NODE40 positions this as the only workflow that produces output satisfying institutional audit standards directly from on-chain data.

Security and Compliance Credentials

In October 2019, NODE40 became the first consumer cryptocurrency tax platform to achieve SOC 1, Type I compliance under the SSAE18 standard, as audited by Armanino LLP, one of the twenty-five largest independent accounting firms in the United States. The SOC 1 certification validates that NODE40's internal control environment operates in accordance with documented key control objectives, providing independent confirmation that the platform's financial reporting controls meet institutional standards.

The company also maintains active coverage of evolving regulatory frameworks including IRS Form 1099-DA, the GENIUS Act stablecoin legislation, FBAR and FATCA foreign asset reporting, and international regimes including DAC8 and the OECD's Crypto-Asset Reporting Framework (CARF).

Integrations

Bedrock connects to major centralized exchanges including Binance, Coinbase, Kraken, KuCoin, and Gemini, as well as custodial wallets, for automated transaction data import. The platform also supports export to tax filing software including TurboTax, H&R Block, and TaxAct, providing a path from enterprise reconciliation through to individual or entity tax return preparation.

Positioning in the Solana Ecosystem

NODE40's relevance to Solana extends beyond individual stakers. As Solana attracts more institutional capital — through validator operations, liquid staking products, and potential spot-staking ETFs — the demand for auditable accounting infrastructure grows alongside it. Validators running at institutional scale, funds allocating to SOL staking yield, and accounting firms taking on crypto-native clients all face the same problem NODE40 was built to solve: producing financial records that can be presented to a counterparty, investor, or regulator with sufficient evidence to defend every line. NODE40's combination of Solana protocol expertise, governed accounting controls, and an established SOC 1 compliance record makes it one of the few platforms positioned to serve that need end-to-end.