Patrick O’Kain has joined SVRN as Chief Operating Officer. Patrick and our CEO, Sal Ternullo, go back to KPMG, where they worked together helping banks and fintechs bring cryptoasset products to market.
“I got to see Patrick work up close at KPMG, and I know what he brings to a team,” said Sal Ternullo, CEO of SVRN. “He understands what institutions need, he does what he says he’ll do, and he cares about our mission. We have a lot to build over the next year, and I wanted him in our corner for it.”
Patrick’s path to SVRN started in national security. He began his career in Washington supporting counterterrorism clients at Northrop Grumman, then led a client-facing team at SAIC on a technical program supporting national security objectives.
In 2012 he became a special agent at the U.S. Department of Justice, working crypto investigations while the government was still figuring out how to approach Bitcoin. He launched the cryptocurrency and cyber unit for the DOJ’s New York Division and helped build his agency’s first crypto investigative strategies and infrastructure.
From the DOJ he went to KPMG to scale the firm’s Cryptoasset Services. He then helped found a Web3 venture firm and later became a General Partner at Borderless Capital, backing the companies building crypto infrastructure.
We asked Patrick why he joined SVRN, what working with institutions taught him about adoption, and how he’ll help decide whether SVRN backs, builds, or buys. His answers are below.
After helping build a crypto unit at the DOJ and a crypto practice at KPMG, what drew you to SVRN and its work around NEAR?
A big part of my decision was the opportunity to work with Sal again. We worked together at KPMG, where I saw his leadership and the key role he played in helping institutions adopt this technology. Sal is an operator. He knows how to execute, how to bring people together, and how to turn a vision into something real. I know I can count on him to deliver, and that was a major factor in my decision.
I’m also deeply mission-driven. That’s been a consistent thread throughout my career, from national security and law enforcement to helping institutions navigate new technologies and investing in the companies building them.
And I think SVRN’s mission couldn’t be more important right now. We have entered a period where the way we interact with technology has fundamentally changed and will continue to change. AI will be increasingly involved in making decisions, managing information, and taking actions on our behalf. This new reality will open extraordinary opportunities, but it also raises serious questions about who ultimately has control.
To me, the ability for individuals to maintain control over their assets, their data, and the AI agents acting on their behalf needs to be foundational to how this next generation of technology is built.
At SVRN, we have the chance to build real businesses around that principle and help shape a future where technology expands individual freedom and agency and enhances all of our lives.
SVRN’s mission is to keep individuals in control of their assets, data, and AI agents. What makes that mission personally meaningful to you, given your background in investigations?
Throughout my career, I’ve seen how new technologies change the way people, institutions, and governments operate. My experience in investigations gave me an appreciation for the importance of privacy, security, accountability, and ultimately, trust. Those are principles I’ve carried with me throughout my career.
What makes SVRN’s mission particularly meaningful to me is where we’re headed with AI. We’re moving toward a world where technology doesn’t just give us information, but increasingly makes decisions and takes actions on our behalf.
The way we now interact with technology, through AI, changes the nature of trust. If we’re going to rely on these systems to act for us, we need to be confident that they are acting in our best interests, that we understand what they are doing, and ultimately, that we remain in control.
That’s what resonates with me about SVRN. I believe people should retain control over their assets, their information, and the decisions that affect their lives. We’re helping build a future where people can benefit from increasingly powerful technology without having to give up their independence.
At KPMG, you helped banks and fintechs develop crypto products. What did that teach you about winning institutional customers that you’ll bring to SVRN?
One of the biggest lessons I took from my time at KPMG:
Institutions don’t adopt technology simply because it’s new or exciting. They adopt it because it solves a real problem and because they have confidence that it can be implemented responsibly and reliably.
When you’re working with large institutions, having great technology is only part of the equation. You have to understand their business, the challenges they’re trying to solve, and the requirements they operate under. And you have to build trust, not just in the technology itself, but in the people and organizations behind it.
I also learned how important it is to bridge the gap between technical innovation and practical business needs. You can have an incredibly sophisticated product, but if you can’t clearly explain its value, integrate it into existing operations, and demonstrate that it works, adoption is going to be difficult.
That’s a perspective I’ll bring to SVRN. We need to build products that solve meaningful problems, establish trust with customers, and deliver measurable value. Ultimately, that’s what turns promising technology into a sustainable business.
As a venture investor, you worked closely with founders. What would you tell a builder who is considering working with SVRN?
I’ve spent a lot of my career working with founders, and one thing I’ve learned is just how difficult it is to build a successful business. It takes a great idea, but more importantly, it takes the right people, integrity, execution, and extreme resourcefulness.
I’d tell a builder that we’re looking for people who are ambitious about what they want to create and thoughtful about how they plan to do it.
What excites me about SVRN is the opportunity to be a genuine partner in that process. We’re not just looking to provide capital. We want to bring technology, resources, relationships, and operational support that can help founders build and scale their businesses.
Ultimately, if you’re building something meaningful and believe we can help you get there, we want to have that conversation. Our goal is to build successful businesses together.
Your career spans national security, consulting, investing, and now operations. How have those experiences shaped the way you lead?
I think the common thread throughout my career, despite working in some very different environments, has been the importance of trust.
Whether you’re working in government, consulting, or venture, so much of what you accomplish comes down to the relationships you build and the trust you establish with the people around you.
I like to think about trust as being “rented.” You don’t buy it one day and it’s yours, you have to pay for it every day.
That means working really hard to consistently follow through on commitments, communicating when things change, taking accountability when things don’t go as planned.
I want people to know they can count on me, and I want to build teams where people know they can count on each other.
How will you decide where SVRN should back an existing company, build a business internally, or make an acquisition?
I think it really comes down to understanding the opportunity and determining the best way to execute against it.
There isn’t going to be a single approach that makes sense in every situation. Sometimes the right decision is to back an exceptional founder who’s already building something compelling. Other times, we may have the capabilities and resources to build something ourselves. And there will certainly be situations where acquiring an existing business makes more sense.
Having spent much of my career in venture, I have a tremendous appreciation for how difficult it is to build a successful company. So I think we need to be thoughtful about where we have a genuine advantage and where we’re better off partnering with people who are already executing.
Ultimately, we’re allocating capital, time, and resources, and we need to be disciplined about those decisions. Each opportunity should have a clear rationale for how it creates value for SVRN and its shareholders.
I don’t think we should be attached to any particular model. We should be focused on making the best decision for the business and then executing against it.
Follow Patrick on LinkedIn.
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