9–12 min чтения
What Breaks Custody
Custody fails in familiar ways. This note maps the incentives, dependencies, and governance gaps that turn access into something conditional.
ЧитатьВзгляды
Когда нам есть что сказать.
Мы публикуем, когда есть что-то значимое: взгляды на хранение, долгосрочное владение и то, что значит строить серьёзную биткойн-организацию.
Мы пишем редко и осознанно. Периоды тишины отражают наш фокус на операционной работе.
8-10 min чтения
Disclosures That Matter: What We Publish, What We Don’t, and Why
A clear disclosure posture makes custody legible. This note defines what should be public, what should stay controlled, and why clarity matters.
Читать9–11 min чтения
Why We Don't Offer Yield
Safeguarding bitcoin and keeping access predictable is one job. Yield is a different job. This note explains why we keep those categories separate.
Читать9–11 min чтения
Exitability: Withdrawals and Finality
The ability to leave defines whether custody is real. You can withdraw bitcoin to your own address, on-chain, under clear rules, with predictable handling.
Читать8–10 min чтения
Full-Reserve Custody
The simplest relationship in finance: if you hold bitcoin in custody, it is held 1:1 for you. This note defines what "full reserve" means and what it rules out.
Читать8–10 min чтения
Continuity as a Product
The real test happens on difficult days, not quiet ones. Continuity means designing custody to remain operable through stress, without improvisation.
Читать7–9 min чтения
What a Bitcoin Bank Is (and Isn't)
A bitcoin bank is not a new kind of exchange. It is closer to an older idea: a bank exists to safeguard capital, provide predictable access, and remain conservative when it is tempting not to be.
ЧитатьХотите узнать, когда мы публикуем что-то новое?
