Essay
What custody records actually prove
A custody record is a claim about process, not a prophecy about price. At best it shows who authorized an action, what evidence accompanied that authorization, and whether settlement matched intent. Stretching the same sheet to “prove prudence” or “prove alpha” invites reviewers to distrust every cell.
Proof that holds
Time-stamped approvals, role identifiers, and links to immutable transaction references can demonstrate that a movement followed a stated control. Dual timestamps help separate the decision from the chain confirmation so nobody pretends they are the same event.
Proof that slips
Screenshots without context, chat reactions treated as signatures, and narrative paragraphs that explain market motives rarely survive scrutiny. They may be useful for internal storytelling, but they are weak evidence of control.
A practical boundary
In our courses we ask learners to label each field with the question it answers. If a field answers “why the market moved,” it usually does not belong in the custody pack. Keep market commentary elsewhere.
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