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South African Rand Plunges to New Low After Benchmark Interest Rate Is Raised to 14-Year High
29.5.2023
The South African fiat currency’s exchange rate versus the U.S. dollar plunged to a new all-time low of 19.7640 per dollar on May 25 just moments after the South African Reserve Bank raised the benchmark interest rate to its highest since 2009. Although the currency has since made some...
Crypto Biz: Ledger halts recovery service, Web3 in Hong Kong, and another CEX goes down
27.5.2023
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
Ledger key recovery service paused amid backlash, will open-source code
24.5.2023
In a May 23 Twitter Space, Ledger CEO Pascal Gauthier said the past week has been a “humbling experience.”
Crypto Wallet Provider Ledger Postpones Release of Key Recovery Service After Public Criticism
23.5.2023
After criticism from the crypto community, the firm pledged to open-source the Ledger Recover code before releasing the controversial update
Ledger CEO says ‘sharded’ wallet keys could be shared if subpoenaed
23.5.2023
The private seed phrases of Ledger users could be shared with governments if they are ordered to, but this is “not a real concern,” says CEO Paul Gauthier
Ledger co-founder clarifies "there is no backdoor" in Recover firmware update
20.5.2023
Ledger Recover is an OTA firmware update, which would allow users to back up their seed phrases by third-party entities only if a user chooses to opt-in to the new service
Is Ledger’s New Bitcoin Key Recovery Feature Safe? Experts Have Doubts
19.5.2023
Ledger believes the service will help attract customers turned off by crypto's unforgiving self-custody ethos. But critics wonder whether the concept is compatible with a real hardware wallet
Crypto Market Recovery Unlikely Until Stablecoin Universe Stops Shrinking: JPMorgan
19.5.2023
Tether’s market cap has been growing at the expense of rival stablecoins such as USD Coin, the report said
Ledger Continues to Defend Recovery System, Says It's Always 'Technically' Possible to Extract Users' Keys
18.5.2023
"Technically speaking it is and always has been possible to write firmware that facilitates key extraction. You have always trusted Ledger not to deploy such firmware whether you knew it or not," Ledger said on Twitter
Ledger Hardware Wallet Addresses Criticism, Stands by New Wallet Recovery Service – What's Going On?
17.5.2023
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...
Ledger launches Ledger Recover, offering enhanced protection for Secret Recovery Phrase
17.5.2023
Ledger has announced the launch of Ledger Recover, an optional subscription-based service that enables users to add an enhanced layer of security. Meaning their Secret Recovery Phrase will be protected under Ledger Recover. Ledger Recover is yet to be released; however, the community can expect...
Ledger Bats Back Criticism of New Wallet Recovery Service
16.5.2023
“You’re saying this is not what customers want. Actually, this is what future customers want,” said Ledeger CEO Pascal Gauthier
Crypto community reacts to Ledger wallet's secret recovery phrase service
16.5.2023
Many members of the crypto community believe Ledger's latest seed phrase recovery feature is a bad idea
Bitcoin’s recovery may trigger buying in these 4 altcoins
14.5.2023
While most coins are reeling under pressure, Bitcoin and select altcoins such as ADA, ATOM, LDO, and ARB are showing promise
81% of SHIB Holders are in the Red While New Meme Coin NoMeme Eyes Recovery - Here's How to Buy
12.5.2023
81% of Shiba Inu (SHIB) investors are now in the red, with the world’s second most popular meme coin having largely failed to emulate the bull market seen in other major cryptocurrencies like Bitcoin and Ethereum this year.
That’s according to data from IntoTheBlock, whose summary of six on-chain...
FTX advisors billed the bankrupt firm for a whopping $103M in Q1
3.5.2023
After Sullivan & Cromwell, Consulting firm Alvarez & Marsal billed the second largest invoice for its finance and accounting work
Systemic Swiss Banks Not Ready for Crisis, Regulator Says
28.4.2023
Switzerland’s financial regulator is not satisfied with the emergency plans of two of the Alpine nation’s five major banks. The assessment refers to a period prior to the rescue of Credit Suisse by UBS when the authority viewed the troubled giant’s preparedness in positive terms. 2 Swiss Banks...
Bitcoin advocate cracks known 12-word seed phrase in minutes
27.4.2023
If the words of a 12-word seed phrase are known, it’s deceptively easy to enter the wallet and sweep the funds
FTX eyes recovery of assets with work for the future in process
13.4.2023
Since FTX’s collapse about four months ago, there has been instability in the cryptocurrency market, forcing holders to follow the wait-watch principle. Things have not been working well for Sam Bankman-Fried since then. He is the former Chief Executive Officer of FTX who has pleaded...
China’s Inflation Rate Drops to Lowest in 18 Months
12.4.2023
The annual inflation rate in China has unexpectedly slowed down in March to its lowest level in a year and a half, the latest statistical data indicates. On a monthly basis, consumer prices decreased for a second consecutive month, despite estimates suggesting they will remain unchanged. Post...