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Blockchain security firm CertiK has released its 2025 Skynet Digital Asset Treasuries (DAT) report, which introduces a new data-driven framework to measure how securely and responsibly companies manage large crypto holdings. The report highlights a maturing corporate crypto market now facing closer regulatory and investor scrutiny.
Why ‘How You Hold’ Now Matters More Than ‘What You Hold’
CertiK notes that corporate crypto holdings have grown from an experimental strategy into a major financial asset class. Public companies now collectively hold over $130 billion in digital assets on their balance sheets.
As spot crypto ETFs make exposure to digital assets more accessible, investors are focusing less on what companies hold. Instead, they are focusing more on how those assets are managed securely and transparently. The report summarizes this shift: “DATs will be judged not by what they hold, but how they hold it.”
The ‘Five Pillars’ of Treasury Security
CertiK’s framework scores companies across five key areas that reflect operational strength and transparency:
- Custodian & Third-Party Diligence
- Internal Controls & Operational Security
- On-Chain Risk Exposure
- Capital Strategy Resilience
- Regulatory & Disclosure Posture
The assessment looks at factors like custodian diversification, insider threat mitigation, SOC 2 audit results, wallet security, and public reporting standards.
Strategy Inc. (MSTR) Tops the 2025 Rankings
Strategy Inc. (MSTR) achieved the highest Skynet Score of 91.8, leading the 2025 rankings. CertiK credited the company’s use of regulated custodians, multi-signature wallets, annual SOC 2 audits, and transparent SEC filings for its top performance.
