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 "text": "Traditional custody has become highly concentrated, with four large banks holding roughly $114 trillion in assets under custody at the end of the first quarter of 2018, and barriers to entry make it likely that this concentration continues.",
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  "name": "Wulf A. Kaal",
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 "citation": "Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876",
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