BlockTower Capital used Silvergate and Signature Bank as asset custodians

It is reported that according to the latest regulatory documents required by the investment consultant, four private funds of BlockTower Capital, a crypto asset management company, use the closed Signature Bank and Silvergate Bank as the asset custodian. The total asset value of these funds is about $940 million.

Interpretation of this information:

The latest regulatory documents required by an investment consultant have revealed that BlockTower Capital, a crypto asset management company, uses closed Signature Bank and Silvergate Bank as the asset custodian for four of its private funds. The total worth of these funds is approximately $940 million.

This message implies that BlockTower Capital is managing a significant amount of crypto assets, given that their private funds have a combined value of nearly $1 billion. By using closed Signature Bank and Silvergate Bank as its asset custodians, BlockTower Capital is safeguarding its investors’ funds against cyber threats and theft. Banks specializing in crypto custodial services possess highly secure storage facilities, advanced encryption, and multi-layered authentication processes that provide top-notch protection against online criminal activity.

Furthermore, the mention of closed Signature Bank and Silvergate Bank indicates that these institutions only provide custodial services to a select group of clients who have a high net worth or meet specific criteria. For instance, Signature Bank only offers services to commercial clients who have a minimum balance of $25 million. Given the high-value assets that BlockTower Capital is managing, it is likely that the company meets these requirements.

This message highlights the increasing importance of asset custodians in the cryptocurrency industry. With cybercrimes on the rise, the storage of digital assets has become a significant issue for individual investors and institutions. Crypto custodial services provide a reliable solution to mitigate the chances of loss or theft of digital assets.

In summary, BlockTower Capital, a crypto asset management company, uses closed Signature Bank and Silvergate Bank as its asset custodian for four of its private funds, which are worth around $940 million in total. The message emphasizes the importance of crypto custodial services to safeguard digital asset investments against cyber threats and theft. The three keywords that summarize the content are BlockTower Capital, closed Signature Bank, and Silvergate Bank.