Marathon Digital, a leading crypto company, has partnered with Zodia Custody, a digital asset custodian backed by Standard Chartered, to protect its crypto holdings. Zodia Custody will provide secure custody solutions for Marathon’s crypto assets located outside the US. The increasing need for secure storage of digital assets has led crypto companies to seek out custodians who offer comprehensive solutions to safeguard assets from theft, loss, or misuse. Zodia Custody offers advanced security measures such as multi-signature wallets and cold storage to protect assets from online hackers. This partnership with Zodia Custody strengthens Marathon’s risk management strategy by providing additional security measures and protection against custodian insolvency. Marathon already works with other trusted custodians, including Anchorage Digital and Fidelity Digital, to ensure the security and risk management of its Bitcoin treasury. Zodia Custody, incubated by Standard Chartered and Northern Trust, aims to become a leader in the digital asset custody industry by combining the experience of established financial institutions with the flexibility of a startup. In addition, Marathon Digital CEO Fred Thiel recently warned that smaller Bitcoin miners may face financial difficulties after the recent halving event. He highlighted the uneven playing field in the mining industry, with larger miners able to secure funding while smaller miners struggle to grow due to lack of financing. Thiel predicts that smaller miners will come under financial stress, leading to industry consolidation.
