New York – November 04, 2026 -- SVRN, Inc. (NASDAQ: SVRN) has appointed Patrick O'Kain as Chief Operating Officer, effective November 3, 2026, replacing David Schwed, who held the post since October 2025 and becomes Senior Advisor on January 1, 2027.
O'Kain brings 20 years across venture capital, advisory and law enforcement
O'Kain joins from Borderless Capital, a digital asset investment firm, where as General Partner he led development and management of the venture fund business, covering fundraising, investments and operations. Earlier, he helped establish and scale KPMG's crypto advisory practice, serving banks, fintechs and other institutional clients on digital asset products, blockchain infrastructure and regulatory strategy.
He previously served as a Special Agent with the U.S. Department of Justice, where he helped build the agency's cryptocurrency investigative strategies and led complex cryptocurrency and financial investigations. His career began in the U.S. Intelligence Community, focused on counterterrorism and national security. He holds an MBA from Columbia Business School.
COO role spans operations, product strategy and acquisition integration
O'Kain will lead SVRN's operations, product strategy and corporate development, including integration of acquired businesses. The appointment follows a year in which SVRN moved from managing a digital asset treasury to operating essential NEAR infrastructure, taking part in network governance and completing its first acquisition, FastNEAR.
CEO Sal Ternullo worked with O'Kain at KPMG and cited that history as the basis for the hire. He said the two helped some of the largest U.S. financial institutions make their first moves into digital assets. O'Kain said it is critical that "people retain control over their assets, their information, and the decisions that affect their lives" as AI becomes more capable.
Schwed stays on to advise on technology and security
Schwed guided SVRN through its transition from OceanPal Inc. to SVRN, Inc. In his new role he will keep working with company leadership, advising on technology and security.
Regulatory and listing questions remain open
SVRN's risk disclosures show the new COO takes over amid unresolved compliance issues. The company is in pre-filing consultation with the SEC's Office of the Chief Accountant and has not yet filed its delayed Annual Report on Form 20-F for fiscal 2025. It has also requested a hearing before the Nasdaq Hearings Panel, and the outcome will determine whether it keeps its Nasdaq listing.
The company also flags concentration of its assets in a single digital asset, NEAR, and the price volatility that comes with it.