This article reflects its original publication date. Programme figures, entry routes, counterparties and availability mentioned here are historical, and must be confirmed against current written terms. Start with the current review checklist.
My May article on the T1D route said the first question on any large position is what the client actually controls. The update, drawn from recent files with all identifying details removed, is that the question gets asked more than once, and serious clients should expect that.
The position
The route itself is unchanged. T1D suits substantial positions, typically $50m and above, in BTC, USDT, USDC, ETH or fiat, depending on the structure and desk approval. The structure is normally non-custodial and handshake-led. The client's wallet stays under their control, and the desk verifies that the wallet is genuine, clean and suitable.
What recent experience adds
- Verification recurs. A control test at intake is the entry ticket, and follow-up checks during the trade are normal. One recent file required a fresh test mid-trade because the original supporting wallet failed a re-check. The client who cooperates quickly loses days. The client who argues loses the slot.
What to consider
- Exclusivity is enforced. Desks detect when the same wallet has been submitted through multiple channels, and the consequence is removal, sometimes permanently. A wallet committed to one route stays committed to that route.
- Documentation discipline protects payouts. On large files, payment schedules and contract addenda only hold up when every confirmation exists in writing. Verbal assurances have produced every dispute I have seen this year. Written confirmations have resolved them.
Preparing the file
The intake list is the same as it was in May. Asset type, value, custody route, beneficial owner, wallet or account history, source of funds, and evidence of control, with an A-to-B-to-A test where requested. Leased wallets, borrowed proof, proxy claims and screenshot-only submissions do not pass, and asset managers presenting wallets they do not control damage their own standing along with the file.
If the client controls a larger position, the first step is still proof. Returns come after.