Rhea Castellan

Follows where crypto is held, by whom, and what happens when that goes wrong.

What Rhea Castellan covers here

Everything published on Custody Watch is written by one person, and the scope is deliberately narrow: onramp, offramp, swap, corporate wallet, custody, acquiring, stablecoin payments, bitcoin payments, otc, licensing, cards, industries, exchange. Articles stay inside it rather than chasing whatever is trending.

How the writing is checked

Figures carry the date they were taken. Claims that can be verified link to a primary source rather than to another article summarising it. Where something is genuinely uncertain, the article says so instead of rounding the uncertainty away.

Corrections are published with a note saying what changed and when. If you find an error, the contact page is the fastest route.

Published on this site

• Concentration Risk: Holding Everything in One Place
• Staking Through a Custodian: Who Owns the Rewards
• Multi-Signature Arrangements That Survive an Employee Leaving
• Reading a Terms of Service for the Clause That Matters
• Operational Risk Beats Hacking Risk, and the Numbers Show It
• Regulated Custodian Versus Regulated Exchange: Not the Same Thing
• How Quickly Can You Actually Get Your Assets Back
• Audit Reports on Custodians: Which Ones Mean Anything
• Self-Custody for a Company: The Problems It Creates
• Questions a Business Should Ask Before Leaving Funds Anywhere
• A Teardown of One Custody Failure, From First Warning
• Cold Storage Percentages and Why the Number Moves
• Third-Party Sub-Custodians Nobody Mentions in Marketing
• Bankruptcy and Crypto: Where Customers Rank
• The Insurance Line in a Custody Agreement, Read Closely
• Who Signs: Key Management at Custodians, Compared
• When Withdrawals Pause: The Pattern Before a Failure
• What Proof of Reserves Proves, and What It Leaves Out
• Segregated or Pooled: Reading the Terms That Decide It
• Where Client Assets Actually Sit at a Typical Exchange