Strategy Inc. said Thursday, October 29, that Chief Financial Officer Andrew Kang will resign effective November 5, ending a four-and-a-half-year tenure as the Bitcoin treasury company reports a multibillion-dollar quarterly gain from its digital assets.
Kang notified the company of his decision on October 26, according to its regulatory filing. Strategy said the resignation was for personal reasons and was not the result of a disagreement over its operations, policies or practices. He will remain in an advisory role through December 31.
Phong Le to Oversee Finance Before Virasteh Takes Over
Chief Executive Officer Phong Le will take over as principal financial officer and lead Strategy’s finance organization from November 6 through the end of 2026. Reza Virasteh, currently executive vice president of operations, will become chief financial officer on January 1, 2027.
The new arrangement divides responsibilities. Le will retain primary oversight of Bitcoin treasury management, capital markets, financing and investor relations. Virasteh will focus on finances and budgeting for Strategy’s enterprise software operations. Global Controller Shelley Khanna will become chief accounting officer on November 6.
The Departure Comes During a Major Bitcoin Reporting Quarter
Strategy reported $20.91 billion in third-quarter gains on digital assets and $19.53 billion in net income, figures driven principally by the accounting value of its Bitcoin holdings rather than revenue from software sales. Its software-related total revenue fell 3% from a year earlier to $125.4 million.
As of October 25, Strategy held 848,517 BTC, with an aggregate acquisition cost of $64.02 billion. Its reported market value was $68.90 billion, based on Bitcoin’s October 23 price of $81,200. The company also reported raising $21.23 billion in equity capital during 2026 through October 25, a measure of the financial scale of its Bitcoin-focused business.
The management change follows shareholder approval of daily preferred-stock dividends and renewed attention to Strategy’s credit and liquidity position. The company said it sold approximately $431.8 million in Bitcoin during 2026 to help fund preferred-stock dividends and STRC repurchases.
Strategy has not attributed any change in its Bitcoin investment policy to Kang’s departure. For shareholders, the immediate questions are how the finance handoff proceeds and how Le and Virasteh manage the company’s growing capital-markets commitments.
BitcoinVersus.Tech Editor’s Note: We volunteer daily to ensure the credibility of the information on this platform is Verifiably True. If you would like to support our work and help further secure the integrity of our research initiatives, please scan the QR code below to donate 5,000 sats.
For best results, open this article on a laptop or larger screen and scan the QR code using a compatible Bitcoin wallet. Verify the receiving address: 3C9o19EH5HSiwEPyCTmEKzxhNCbo2X6TTb.
BitcoinVersus.tech is not a financial advisor. This media platform reports on financial subjects purely for informational purposes.
Leave a Reply