# Custody Watch > Who is holding it, and on what terms Custody Watch covers onramp, offramp, swap, corporate wallet, custody, acquiring, stablecoin payments, bitcoin payments, otc, licensing, cards, industries, exchange and nothing else. Every article is written by Rhea Castellan. Follows where crypto is held, by whom, and what happens when that goes wrong. The intended reader is people responsible for assets that belong to someone else. No price predictions, no investment advice and no paid placements: articles explain how something works so the reader can decide for themselves. Where a number matters, the article states where it came from and when it was measured. 20 articles, published 2026-08-30 to 2026-10-27. Every article is also served as plain Markdown: replace the trailing slash with `.md` — https://custodywatch.com/concentration-risk.md ## Custody - [Concentration Risk: Holding Everything in One Place](https://custodywatch.com/concentration-risk/): The simplest control available to any holder is also the least used. What splitting across venues actually buys. - [Staking Through a Custodian: Who Owns the Rewards](https://custodywatch.com/staking-through-a-custodian/): Delegating staking to the venue holding your assets adds three exposures that the advertised yield does not mention. - [Operational Risk Beats Hacking Risk, and the Numbers Show It](https://custodywatch.com/operational-risk-beats-hacking/): Attention goes to exploits. Most customer losses have come from mundane failures of process and governance. - [A Teardown of One Custody Failure, From First Warning](https://custodywatch.com/a-teardown-of-one-custody-failure/): The composite pattern of how venue failures have unfolded, assembled from the public record of several. - [Cold Storage Percentages and Why the Number Moves](https://custodywatch.com/cold-storage-percentages/): The exposure is in the hot portion. What the published percentage means, and what makes it change without announcement. - [Third-Party Sub-Custodians Nobody Mentions in Marketing](https://custodywatch.com/third-party-sub-custodians/): The exposure is a chain of custody longer than the one disclosed. Your assets may sit two entities away from the venue you chose. - [The Insurance Line in a Custody Agreement, Read Closely](https://custodywatch.com/the-insurance-line/): The exposure is assuming insurance covers your loss. Most policies cover a narrow set of events and a fraction of assets. - [Who Signs: Key Management at Custodians, Compared](https://custodywatch.com/who-signs-key-management/): The exposure is that one person can move everything. Four arrangements, and what each one survives. - [What Proof of Reserves Proves, and What It Leaves Out](https://custodywatch.com/what-proof-of-reserves-proves/): The exposure is treating an asset snapshot as a solvency statement. The two differ in three specific ways. - [Segregated or Pooled: Reading the Terms That Decide It](https://custodywatch.com/segregated-or-pooled/): Two sentences in the terms of service determine whether your assets are yours in an insolvency. Here is how to find them. - [Where Client Assets Actually Sit at a Typical Exchange](https://custodywatch.com/where-client-assets-sit/): The exposure is that your balance is an entry in a database and the assets behind it are held somewhere you have not been told about. ## Corporate wallet - [Multi-Signature Arrangements That Survive an Employee Leaving](https://custodywatch.com/multisig-that-survives-departure/): Most company multi-signature setups fail on staff turnover rather than on cryptography. Five provisions that prevent it. - [Self-Custody for a Company: The Problems It Creates](https://custodywatch.com/self-custody-for-a-company/): Removing counterparty risk introduces operational risk, and for an organisation the second is harder to manage than the first. - [Questions a Business Should Ask Before Leaving Funds Anywhere](https://custodywatch.com/questions-before-leaving-funds/): Eight questions, answerable in writing, that separate a venue that has thought about custody from one that has not. ## Licensing - [Reading a Terms of Service for the Clause That Matters](https://custodywatch.com/reading-terms-for-the-clause/): Six searches through a terms document that take ten minutes and tell you more than any review. - [Regulated Custodian Versus Regulated Exchange: Not the Same Thing](https://custodywatch.com/custodian-versus-exchange/): Two licences, two sets of obligations, and a difference that only becomes visible when something goes wrong. - [Audit Reports on Custodians: Which Ones Mean Anything](https://custodywatch.com/audit-reports-on-custodians/): Four kinds of report circulate and they differ enormously in what they examined. How to tell them apart. - [Bankruptcy and Crypto: Where Customers Rank](https://custodywatch.com/bankruptcy-and-crypto/): The exposure is discovering at the worst moment that your balance was an unsecured claim. What determines the ranking. ## Offramp - [How Quickly Can You Actually Get Your Assets Back](https://custodywatch.com/how-quickly-can-you-get-assets-back/): The exposure is a withdrawal process that has never been tested at your size. Four things decide the answer. - [When Withdrawals Pause: The Pattern Before a Failure](https://custodywatch.com/when-withdrawals-pause/): Withdrawal problems have preceded nearly every major venue failure. Which ones are routine and which are the signal. ## About this site - [About](https://custodywatch.com/about/): what the site covers, who writes it and how articles are checked. - [Author](https://custodywatch.com/author/): Rhea Castellan. Follows where crypto is held, by whom, and what happens when that goes wrong. - [Contact](https://custodywatch.com/contact/): corrections and questions. - [Privacy](https://custodywatch.com/privacy/): what the site does and does not collect. ## Machine-readable - [https://custodywatch.com/llms-full.txt](https://custodywatch.com/llms-full.txt): full text of every article in one file. - [https://custodywatch.com/sitemap-index.xml](https://custodywatch.com/sitemap-index.xml): every indexable URL. - [https://custodywatch.com/rss.xml](https://custodywatch.com/rss.xml): feed of new articles.