News about crypto custody

Onramp CEO Michael Tanguma argues that corporate bitcoin adoption will stall until companies can show who controls the funds, who approves transfers and whether the assets still exist. BlockTower Capital founder Ari Paul accused Coinbase of losing roughly $25 million of his firm's assets and concealing more than $1 billion in hacks across a dozen institutions; Coinbase denies this, and Paul says ongoing litigation prevents him from publishing his evidence, so outsiders cannot verify either claim. Unlike corporate bank or brokerage accounts, bitcoin often sits behind a single exchange login or hardware wallet, as when QuadrigaCX's CEO died in 2018 holding the only keys and about $190 million in customer assets was lost. A Deloitte survey of 200 CFOs found that the complexity of accounting and controls held back 42% of respondents, while more than 360 physical attacks on holders have been logged since 2014. The author argues that multisignature custody, native to bitcoin's protocol, can distribute risk instead of concentrating it in one person or company.