Solmate Discloses 1.26M SOL Custody Positions and Says It Has No Binance Exposure

TL;DR Solmate’s October 30 disclosure identifies three custody providers. The company said it had no accounts or exposure to Binance. The statement addresses counterparty exposure, not SOL market risk. Solmate Infrastructure has published a specific answer to a question facing crypto treasury companies after an exchange security incident: where are the assets held? In an October 30 disclosure, the company said it had no Binance accounts or exposure and identified the custodians holding its reported 1.26 million SOL. The Form 6-K places those holdings with Kraken, Anchorage Digital or BitGo as of October 29. It is a company statement about custody at a particular time, rather than an independent audit of every position. Asset ownership and asset access are separate questions A corporate balance sheet can show exposure to a cryptocurrency without explaining the complete operating arrangement behind it. Investors also need to know who controls transactions, how transfers are approved and whether the company can access the assets when it needs them. A treasury that plans to hold for years still faces shorter-term obligations. It may need cash for operating costs, collateral for financi...