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San Diego, CA, Nov. 06, 2025 — Roundtable and RYVYL Inc. (NASDAQ: RVYL) today revealed that renowned Web3 investor Aly Madhavji has consented to join the forthcoming merged entity as Chief Financial Officer (CFO), combining his distinctive background in traditional finance with extensive connections and experience overseeing over 200 investments in blockchain infrastructure technology.
In his role as CFO, Madhavji will facilitate Roundtable’s ongoing advancement through the merger and NASDAQ listing, while linking the vibrant blockchain investment landscape with Roundtable. Current RYVYL CFO George Oliva will transition to the position of Chief Accounting Officer for the newly merged organization upon the completion of the merger.
Madhavji’s financial qualifications are as exemplary as his profound insight into the Web3 realm, fostering relationships with over 500 blockchain co-investors across all continents, including Singapore, his base.
Roundtable’s CEO, James Heckman, lauded Madhavji’s leadership and expertise, commenting, “In my three decades of financing and managing technology firms, I’ve never encountered anyone with such passion and diligence as a board member and investor, which aligns perfectly with his technical and fiscal savvy. His contributions have been remarkable, prompting our invitation for him to partake in this exceptional opportunity to revolutionize an entire sector. Aly possesses a distinctive capability to convey the vision of our groundbreaking platform to both traditional and blockchain-oriented investment circles.”
Madhavji carries the title of licensed Chartered Accountant (CA, CPA, CMA, CIM), holding a Master’s in Global Affairs from Tsinghua University (清华大学), an MBA from INSEAD (Singapore/France) where he was a Blockchain Fellow, and a BA in Commerce with Distinction from the University of Toronto, where he serves on the Governing Council. Additionally, an internationally recognized author and prominent speaker at major Web3 conferences, Aly is also a contributing analyst for leading cryptocurrency publications and the esteemed lead on Amazon Prime Video’s series Crypto Knights. His position on the Roundtable board will mark his second service on NASDAQ, following his role with Soluna Holdings.
Madhavji expressed, “I’m joining Roundtable as CFO because Roundtable has transformed the long-desired Web3 vision of the media sector into tangible reality. The RYVYL merger introduces bank-level payments and public-market discipline; our platform delivers what publishers have yearned for years: immediate revenue, clear reporting, and control over their data, audiences, and intellectual property, attainable solely through Web3. After diligencing and investing in numerous blockchain infrastructure teams, this one stands out; and why Blockchain Founders Fund has made Roundtable our most significant investment, thus I’m stepping in to spearhead our NASDAQ journey and align Roundtable with both traditional and crypto-focused investors.”
Madhavji joins a seasoned executive team led by digital media entrepreneur James Heckman and blockchain frontrunner Eyal Hertzog. Hertzog, co-founder and designer of Roundtable’s “DeWeb” platform, is widely acknowledged as the technical innovator of decentralized finance (DeFi), comprising automated market-making and the liquidity pool mechanisms that support the transformative sector – and successfully brought it to market as the lead architect and founder of Bancor. He also co-founded the initial social video platform, MetaCafe, whose recommendation algorithm played a pivotal role in shaping social media foundations.
Heckman, a serial entrepreneur and former senior executive at Yahoo, Google, and News Corp, has created and scaled more than a dozen technology platforms, including Arena Group, which powered digital media for over 300 global brands. He collaborates with long-time technology partner and co-founder Bill Sornsin as COO, a former senior product leader at Microsoft and co-architect of various global-scale platforms with Heckman.
Collectively, this leadership team developed Roundtable, the first large-scale, Enterprise-level, Web3-powered media platform that amalgamates decentralized payments, clear real-time reporting, and on-chain audience and data control, establishing next-generation infrastructure for professional publishers and media networks globally. Heckman’s previous company, Arena, evolved into a nine-figure public enterprise fuelled publishing and monetization for global media brands such as Sports Illustrated, Maxim, History.com, and TheStreet. His prior positions have included Head of Global Media Strategy at Yahoo!, Chief Strategy Officer at Fox Interactive, and architect of the $1 billion ad alliance between MySpace and Google, where he led the team responsible for crafting Hulu’s original business model and established the inaugural “Premium Marketplace,” partnered with AOL, Yahoo!, MSN, and the top dozen major media corporations.
Overall, Heckman has established and brought public and/or sold to significant digital media entities ten large-scale ventures, including Rivals.com (acquired by Yahoo!), Scout.com (acquired by Fox), 5to1.com (public, acquired by Yahoo!), NFL Exclusive, and Arena. Notably, every business he launched achieved sustainability and substantial industry scale.
Visionary Partners and Board Members
Roundtable co-founders and strategic partners encompass incoming Chair Walton Comer, XBTO co-founder, Lucid Holdings co-founder (acquired by CINT for nearly $1 billion), and founding investor of Deribit, recently sold to Coinbase for over $3 billion; Aly Madhavji, Managing Partner of Blockchain Founders Fund; David Bailey, CEO of Nakamoto, Bitcoin Conference, and Bitcoin Magazine; Mike Alexander, former CEO of Jefferies Asia and CEO of Bullish’s EOS Venture Capital Fund; W. Graeme Roustan, Roundtable co-founder, former Chairman of Bauer Hockey, True Sports CEO, and CEO of The Hockey News, the first major network to publish on-chain with Roundtable; and Brock Pierce, Tether co-founder and early Bitcoin visionary.
Merger Details
A binding agreement has been executed between RYVYL (NASDAQ: RVYL) and Roundtable. The closing is still contingent on shareholder approval and standard regulatory review. Upon the completion of the merger:
- James Heckman will take the role of CEO
- Walton Comer will become Chairman, leading a seven-member board
- Aly Madhavji will retain his position as CFO (from Roundtable) in the merged companies
- George Oliva will remain as EVP/Finance and Chief Accounting Officer, reporting to Heckman
- The company will adopt the name RTB Digital, Inc., operating under the brand “Roundtable”
- Six directors will be appointed by RTB, while RYVYL independent director Brett Moyer will be retained; all other current directors of RYVYL will resign.
About Roundtable (RTB Digital, Inc.)
Roundtable is a Web3, digital media SaaS platform company, offering white-label, full stack distribution, community, publishing, and monetization solutions for professional media brands and journalists – bolstered and powered by a digital liquidity pool integrated into the platform. Visit
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RTB.io.
About RYVYL
RYVYL Inc. (NASDAQ: RVYL) conducts a digital transaction processing enterprise facilitating payments worldwide, including financial solutions for overlooked markets. RYVYL has created applications allowing a comprehensive suite of ready-to-use financial services with improved security and data confidentiality, top-tier identity theft protection, and swift settlement speeds. www.ryvyl.com
Cautionary Note Regarding Forward-Looking Statements
This press announcement comprises details that represent forward-looking statements as defined in Section 27A of the Securities Act of 1933, as modified, and Section 21E of the Securities Exchange Act of 1934, as revised. These forward-looking declarations are grounded in the Company’s present beliefs, assumptions, and anticipations pertaining to forthcoming events, which rely on information currently accessible to the Company. Such forward-looking statements encompass assertions characterized by future or conditional terminology like “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” and “continue” or comparable expressions. You should examine statements featuring these words cautiously as they address future expectations and strategies, which incorporate forecasts of future operational results or financial positions or articulate other forward-looking data.
Inherently, forward-looking statements tackle issues that are subject to risks and uncertainties. Numerous elements could lead to actual occurrences and outcomes differing significantly from those indicated or contemplated by the forward-looking statements. Risk factors influencing the Company are elaborated upon thoroughly in the Company’s submissions to the SEC. The Company assumes no responsibility to publicly refresh or amend any forward-looking statement, whether due to new information, future events, or otherwise, except as mandated by applicable regulations. These forward-looking statements comprise, but are not confined to, remarks about the proposed merger between the Company and the target (the “Parties”), the anticipated closure of the proposed merger and the timing thereof, and as adjusted descriptions of the post-transaction enterprise and its operations, strategies, and plans, including the management team and board of directors of the Company post-merger (the “Combined Company”). There are several risks and uncertainties that could result in actual outcomes differing materially from the forward-looking statements presented in this press release. These include: the risk that the Parties’ operations will not merge successfully and the risk that cost efficiencies, synergies, and growth from the proposed merger may not be fully realized or may take longer to realize than anticipated; the possibility that shareholders of the Company may not consent to the issuance of new shares of the Company’s common stock in the merger or that shareholders may reject the merger; the risk that a condition for closing the merger may not be fulfilled, that either party may terminate the definitive agreement, or that the merger closing may be postponed or might not occur at all; negative reactions or alterations to business or employee relationships, including those stemming from the announcement or finalization of the merger; the risk that the parties do not obtain regulatory or other approvals for the merger; the occurrence of any additional event, change, or other condition that might result in the termination of the merger agreement or alterations to the transactions; the risk that modifications in the Company’s capital structure and governance could negatively impact the market valuation of its securities; the ability of the Parties to keep customers and retain and recruit key personnel while preserving relationships with their suppliers and clients, and on the Parties’ operational results and business overall; the risk the merger could divert the management teams of the Parties from ongoing operations or lead the Parties to incur significant expenses; effects on the Parties’ strategies for value creation and competitive advantages, market size and growth possibilities, regulatory conditions, competitive stance, and the interest of other corporations in similar business strategies, technological and market trends, future financial status, performance, and anticipated financial impacts of the merger; the risk that the Parties might face challenges in reducing expenses or accessing financing or liquidity; the consequences of any economic downturn; the risk of regulatory changes or enforcement practices; and other significant elements that might cause actual results to differ markedly from those anticipated and the risk factors highlighted in the documents of the Company filed or to be filed with the SEC, which are or will be accessible on the Company’s site at www.ryvyl.com and on the SEC’s website at www.sec.gov.
RYVYL IR Contact:
Richard Land, Alliance Advisors Investor Relations
973-873-7686 ryvylinvestor@allianceadvisors.com
Roundtable PR Contact:
Mehab Qureshi, RTB Digital Inc.
+91 90289 77198, mehab@roundtable.io
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