In “Shuggie Bain,” Douglas Stuart’s award-winning and harrowing depiction of alcoholism, sectarianism and deprivation in post-industrial Scotland, money is always scarce and often dirty. Deserted by her second husband and unable to hold down a job, Shuggie’s mother, Agnes, relies on her twice-a-week child benefit to feed her children — or her booze habit.

When a billionaire hedge fund manager like Paul Tudor Jones with over 40 years of experience in the global financial markets admits to being “left speechless”, you know 2020 has been no ordinary year.

We believe that self-custody for crypto hedge funds trading on multiple exchanges is not a viable institutional solution (see this article on self-custody we wrote earlier). In short, although many custodians claim to have institutional custody, in practice they lose control of the fund’s crypto assets as soon as they are sent to an exchange.

A cryptocurrency custodian is a specialized financial institution responsible for safeguarding a firm’s or individual’s cryptocurrency assets. If a firm is only going to hold and not trade crypto assets then it doesn’t need a very sophisticated custody solution. However hedge funds that plan on trading crypto assets on multiple exchanges, require a different and more sophisticated custody solution.