[dboreham]

Disagree. Actually disagree twice. The company had approved a treasury policy (apparently written by the CFO) that said cash had to be in t-bills or similar (therefore not unbacked stablecoin). But the policy is orthogonal to access control to the cash. You can have a CFO who decides where to put cash, but still require two officers to approve any transfer > $1M (for example). This neatly takes care of the problem where your CFO is a criminal, or has to pay ransom for his kidnapped wife, etc.

[Animats]

Small startups often don't have enough of a finance staff for proper separation of functions. That's the problem. Who in the transaction path had the authority to stop this guy without being fired? Probably nobody.

Here's the company.[1] It sells a "headless commerce platform".

[1] https://fabric.inc/