Custodian Scrutiny
We conduct a comprehensive analysis of bitcoin custodians across multiple critical dimensions. Our evaluation examines their security infrastructure (hot/cold storage design, proof of reserves), operational focus (bitcoin-only vs multi-coin), business practices (leadership, jurisdiction, track record), ecosystem contributions (FOSS development, protocol adoption), and user protection measures (KYC requirements, security features, custody model). This thorough assessment helps users make informed decisions about which custodians best align with their security needs and bitcoin values.
Apps
River: Buy Bitcoin Instantly
River: Buy Bitcoin Instantly
Do they publish their hot wallet and cold storage design and processes?
Is it bitcoin-only/bitcoin-optimized?
Do they provide proof of reserves?
Where is the company located and who are the key team members?
Leadership Team
- Alexander Leishman - Founder, CEO & CTO
- Julia Duzon - Chief Operating Officer
- Cem Paya - Chief Security Officer
- Bill Mongan - General Counsel
- James Page - Chief Product Officer
- Ellen Weaver - Director of People
- Joe Bryan - Director of Finance
- Sam Wouters - Director of Marketing
How much bitcoin do they custody?
Cryptographic Proof of Reserves
Amount of BTC: 20K BTC
Total Assets under Custody: 20K BTC
Last Updated: 2025-04-02
Source: River Proof of Reserves
Third Party/Independent
Amount of BTC: 20,438 BTC
Total Assets under Custody: 20,438 BTC
Last Updated: 2025-04-29
Source: Arkham Intelligence
Self-Reported / Filings
Amount of BTC: 20,000 BTC
Total Assets under Custody: 20,000 BTC
Last Updated: 2025-04-28
Source: River CEO Tweet
What is their track record for customer complaints, down time, vulnerabilities, loss of coins?
Incident Response: --
Incident History
What is the business model and revenue stream?
Type: Bitcoin Brokerage, Custody & Mining
Services Offered
Restricted Countries
- Non-US Territories
How risky of a business do they run?
River Financial operates with minimal risk factors as a Bitcoin-only platform. They do not offer derivatives trading, memecoins, or gambling services, focusing exclusively on Bitcoin custody, brokerage, and mining operations with strong security practices.
What is the contribution to the Bitcoin ecosystem?
What are the user access requirements and restrictions?
Withdrawal Limits
What are the security features and measures in place?
Do your own research
In addition to reading our analysis, it is important to do your own checks. Before transferring any bitcoin to your wallet, look up reviews for the wallet you want to use. They should be easy to find. If they aren't, that itself is a reason to be extra careful.