Separate ownership from operational control
A research framework should distinguish the economic interest in an asset from the ability to move or access it. Different custody arrangements create different dependencies.
Map the failure points
Consider key loss, unauthorized access, platform interruptions, and restrictions on withdrawals. Record who controls each part of the process and which assumptions rely on another party.
Understand the procedure
Security depends on procedures as well as technology. Access management, recovery plans, and the handling of sensitive credentials all affect the operational picture.
Keep the scope clear
A basic custody overview cannot validate a particular provider or setup. Use current primary documentation when assessing a specific arrangement and make the limits of your research explicit.
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