This week’s Crypto Biz explores Hotbit’s closure, Hong Kong’s licensing of crypto firms, Bitstamp’s acquisition by Ripple and Ledger’s branding crisis. Another centralized exchange (CEX) bites the dust, with Hotbit announcing it will close operations due to adverse business conditions. As is common among CEX collapses in recent months, the crypto firm mentioned FTX, the…
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This week’s Crypto Biz explores Tether’s first quarter audit, Ripple’s partial victory against the SEC, Worldcoin fundraising and Ledger’s controversial recovery service. Banks want to reduce exposure to crypto businesses, just as crypto businesses are seeking to reduce exposure to the ongoing banking crisis. Tether’s latest audit report shows that the stablecoin issuer withdrew over…
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Ledger Recover is an over-the-air firmware update allowing users to back up their seed phrases by third-party entities if they opt-in to the new service. The launch of Ledger Recover — a new service allowing users of the Ledger hardware wallet to back up their secret recovery phrases — was met with immense resistance from…
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Ledger’s decision to introduce a third party to your wallet seed phrase created an exploit that could appeal to both governments and hackers. Self-custody is important in crypto, and security is essential to self-custody. Ledger, a notable hardware wallet manufacturer, has built its reputation on the secure storage of users’ private keys. Hardware wallets create…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Bank of England to Reject Revolut’s Banking Licence Application, ASX Abandons Blockchain, HashKey to Raise Funds at $1BN Valuation, Ledger Co-founder Calls Recover Service Launch a ‘Horrible Mess’…
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Amidst the recent controversy surrounding Ledger, a leading hardware wallet specialist, competitors are seizing the opportunity to address the concerns expressed by some users. One of these competitors is Trezor, a hardware producer, who aims to capitalize on Ledger’s troubles by offering a discount to buyers…. Read More: Hardware Wallet Rivals Offer Discounts in Wake…
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The popular hardware wallet maker Ledger has addressed some of the concerns from the community, after it introduced a new and controversial wallet recovery service. In a video posted on Tuesday, Ledger’s chief technology officer Charles Guillemet stressed that although the new wallet recovery feature may be convenient for some users, it will be completely…
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Hardware wallet maker Ledger is facing significant backlash for its recent introduction of a tool enabling users to back up their seed phrases through the transmission of encrypted key fragments to third-party firms. The crypto community has not embraced this new feature, with numerous digital currency users venting their frustration on social media platforms. Ledger’s…
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Many members of the crypto community believe Ledger’s latest seed phrase recovery feature is a bad idea. Several crypto community members, including Ledger wallet owners, have taken to social media to express their discontent following the release of Ledger’s latest feature. The newly introduced retrieval solution for its hardware crypto wallets, known as Ledger Recover,…
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The Biden administration has released a strategy document focusing on setting standards for “critical and emerging” technologies such as blockchain and digital ID. The administration of United States President Joe Biden released a national standards strategy for critical and emerging technologies on May 4. The strategy stated that the U.S. would prioritize standards development in…
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