Good morning. Is the segment of crypto-friendly CFOs growing? That appears to be the case, as pursuing blockchain initiatives is becoming increasingly common.
Fortune’s Catherine McGrath reported last week that about 60% of Fortune 500 executives say their companies are “working on blockchain initiatives,” according to a new survey published by crypto exchange Coinbase in partnership with GLG Research. This is a 4% increase from last year.
The report also highlighted that 81% of crypto-aware, small- and medium-sized businesses are interested in using stablecoins to address their biggest financial pain points. That belief is catching on at large companies, with more than three times as many Fortune 500 executives now exploring stablecoins compared to last year, according to Coinbase.
Fortune’s Leo Schwartz and Ben Weiss exclusively reported that Meta is in discussions with crypto firms to introduce stablecoins as a means to manage payouts, and has also hired a VP of product with crypto experience to help shepherd the discussions. Amazon and Walmart are also looking into issuing their own stablecoins, the Wall Street Journal reports.
Shifting political dynamics have sparked renewed interest in blockchain among mainstream U.S. corporations. The Trump administration has advocated for a clear regulatory framework for crypto in support of the industry.
The crypto industry also is currently experiencing a surge in IPO activity. Circle, a leading issuer of the USDC stablecoin pegged to the U.S. dollar, went public this month with a valuation of $8 billion. Several other crypto companies also have filed for IPOs or are reportedly exploring the possibility.
Are legacy financial institutions at large prepared for crypto? Jenny Johnson, CEO of Franklin Templeton, doesn’t think so. Johnson helms a nearly 80-year-old, publicly traded financial institution. She writes in a Fortune opinion piece that financial institutions have attempted to integrate digital asset technology for more than 10 years “with little to show for their efforts,” as the total value of blockchain-based finance comprises less than 1% of the $300 trillion global system.
“We believe that the portfolios of the future will increasingly move away from today’s account-based system and rely instead on digital wallets that can hold a limitless number of tokenized assets in a single place—all of which can be transferred instantly, as well as lent out or staked for additional yield,” Johnson writes. She adds, “The advantages of blockchain are so compelling that we don’t foresee the shift to digital-asset technology being slow or incremental. Indeed, we expect our industry will evolve more in the next five years than in the last 50.”
Sheryl Estrada
sheryl.estrada@fortune.com
Leaderboard
Fortune 500 Power Moves
David Orr was promoted to CFO of ABM Industries (No. 458). Orr, who has been with the company since 2001, previously served as SVP of financial planning and analysis, succeeds Earl Ellis, who has served as CFO since November 2020.
Every Friday morning, the weekly Fortune 500 Power Moves column tracks Fortune 500 company C-suite shifts—see the most recent edition.
More notable moves
Nicholas (Nick) Grindstaff was appointed CFO of Sterling Infrastructure, Inc. (NasdaqGS: STRL), effective July 10. Grindstaff is succeeding Ron Ballschmiede, who served as Sterling’s EVP, CFO and CAO from November 2015 through May 2024, and as interim CFO from March 2025. Grindstaff brings over 30 years of experience to Sterling. Most recently, he served as CFO of Cinterra. Before that, he served as CFO of Orbital Infrastructure Group.
Sergio Maiworm was appointed CFO of Expro Group Holdings N.V. (NYSE: XPRO), effective June 30. Maiworm succeeds Quinn Fanning, who will be leaving the company. Maiworm has more than 20 years of energy and finance experience. He joins Expro from Talos Energy, where he served as CFO.
Big Deal
Pay is important to employees. But a new study shows that preventing turnover depends on more than just salary—work schedules are a major factor.
The American Job Quality Study, led by Jobs for the Future, The Families & Workers Fund, W.E. Upjohn Institute for Employment Research, and Gallup, surveyed over 18,000 U.S. workers. Employees with high-quality work schedules are more likely to feel financially secure, enjoy work-life balance, and be satisfied with their jobs, according to the findings.
However, 62% of U.S. workers lack high-quality schedules, which previous research links to lower productivity and higher turnover. Additionally, 27% of employees are in jobs with low-quality work schedules, according to the report.
Going deeper
“Everyone’s using AI at work. Here’s how companies can keep data safe” is a Fortune report by Sharon Goldman.
From the report: “Whether it is the AI agents of the future or the generative AI tools of today, striking the right balance between enabling productivity gains and doing so in a secure, responsible way may be tricky. But experts say every company is facing the same challenge—and meeting it is going to be the best way to ride the AI wave.”
Overheard
“If you want to be happy, think what you can do for somebody else. If you want to be miserable, think what’s owed to you.”
—Mitzi Perdue, the heiress of $10 billion Perdue farms and the $12 billion Sheraton hotel empire, told Fortune in an interview. Philanthropy and hard work make Perdue, 84, feel full. She has spent many years living in an apartment building in Salisbury, Maryland, alongside residents working in professions such as nursing and law enforcement. She told Fortune that a year’s rent for her one-bedroom apartment costs the same as a single month’s rent for her friends in New York City.
