Reaffirming a fundamental rule in hardware wallets:
only buy directly from the producer (Ledger; Trezor, etc.). Pay the extra shipping cost.
only buy directly from the producer (Ledger; Trezor, etc.). Pay the extra shipping cost.
This is the last thing I plan to say on the Ledger situation, but I’d be mad at myself if I didn’t criticize their comms.
Aside from a supply chain nightmare, this is also a PR nightmare.
Ledger’s core promise was simple: buy from us or an authorized reseller and the device is safe. That promise is now broken because an authorized partner sold devices with implants that captured recovery phrases.
The technical issue is serious, but the bigger problem right now IMO is how Ledger is handling it.
We’re a few days in now and the response has been largely silence from the company, a statement from the CEO most likely drafted by legal, and canned replies from support accounts.
When a company doesn’t put a clear number on the impact or give regular updates, the market fills the gap - currently with claims north of $90 million. Fragmented messaging across multiple accounts do nothing but make it worse.
Users shouldn’t have to piece together the story from numerous different timelines. That’s a massive problem.
What Ledger SHOULD be doing is posting constant, plain-English updates from the people actually running the investigation: what you’re testing, what you’ve ruled out, and what users should do.
I’d like to give huge credit to the independent researchers who surfaced the details early.
A SINGLE source of truth and visible leadership close the trust gap while the forensics continue… silence just doesn’t. This is why we’re seeing people now question devices bought DIRECTLY from Ledger.
Your customers are human. They should be treated and talked to as such.
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Brian Grace retweeted
Clients in 2015: Is this document approved?
Some lawyers without AI: Yes.
Clients in 2026: Is this document approved?
Some lawyers with AI: Please see below for 45 paragraph bullet-points for every possibility applied generally rather than with specific experience and actual counsel regarding the matter at hand.
Some lawyers without AI: Yes.
Clients in 2026: Is this document approved?
Some lawyers with AI: Please see below for 45 paragraph bullet-points for every possibility applied generally rather than with specific experience and actual counsel regarding the matter at hand.
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Kalshi is looking cooked
Kalshi has now lost 15 consecutive federal court rulings since the Minnesota decision. With today’s reversal of Tennessee, States have prevailed in 38 out of 43 court decisions involving preliminary injunctions, TROs, or stays/injunctions pending appeal, an 88% success rate.
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The lawyers for Kalshi face palmed so hard when they came across this ad for the first time.
“In this court, Kalshi studiously wraps its product in the language of derivatives. Its advertising is less coy. The advertisement that the Tribes challenge in this appeal states that ‘Sports Betting [Is] Legal in all 50 States on Kalshi.’”
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Brian Grace retweeted
Our third-party e-mail provider has been breached. Please be aware that the email named ‘Critical Security Alert: STM32 Entropy Vulnerability’ is not coming from us, and it’s a phishing attempt. Do not click on any link.
We have taken down the domain, and we are investigating the situation, including how the hackers got access to our legit domain.
We have taken down the domain, and we are investigating the situation, including how the hackers got access to our legit domain.
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Thanks to @Blockworks for leading the charge re transparency in the industry!
NEW: Now tracking @metaplex, the leading Solana tokenization platform with over 1b+ in digital assets created.
Track Metaplex's financials, MPLX token, issuance, onchain activity, and its launchpad platform, Genesis, in a new public dashboard.
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Brian Grace retweeted
Congress can either:
(1) pass rules that govern how the Trump admin regulates crypto; or
(2) not pass rules and defer to the Trump admin on how to regulate crypto.
Pass CLARITY or abdicate.
(1) pass rules that govern how the Trump admin regulates crypto; or
(2) not pass rules and defer to the Trump admin on how to regulate crypto.
Pass CLARITY or abdicate.
🚨NEW: The @SECGov will hold an open meeting on Friday at 10AM ET to consider whether to issue a release proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets.
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Just copy paste them into Claude of ChatGPT and do the following: 1) explain the website and how you intend to use it; 2) a high level summary of the terms; and 3) whether based on your intended use case there are any terms you should be concerned about.
I wish everyone would take 10 minutes to read the terms and conditions of the platforms/ protocols/ services they use.
So many of them are predatory.
They quietly strip away the protections you think you have and leave you completely out in the cold if something goes wrong.
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Brian Grace retweeted
UPDATE: A new CLARITY Act draft has been released, merging the Senate Banking and Agriculture Committee versions and adding an ethics provision for the first time.
A motion to proceed is expected Monday or Tuesday, with a possible floor vote the week of August 3.
A motion to proceed is expected Monday or Tuesday, with a possible floor vote the week of August 3.
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Brian Grace retweeted
$30B of tokenized assets are already onchain, and that number is forecasted to grow 100x by 2030.
The U.S. has no regulatory framework for the blockchains those assets live on.
The safety and resilience of our financial system depends on passing CLARITY now.
The U.S. has no regulatory framework for the blockchains those assets live on.
The safety and resilience of our financial system depends on passing CLARITY now.
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Brian Grace retweeted
👀 Big news for @CandyDigital fans👇
Early this morning @CandyDigital started the mint of active fans’ digital collectibles on @solana using @metaplex core. First up is the top level tokens that administer each collection but fans may see signs of progress on their own assets when they log in to Candy.io beginning Monday. (True degens may see progress on-chain before then if they dig around.) Our CTO made some progress on speeding up the mint so (although he won’t commit), I am hopeful we will cut the time down a few days. We are also working with secondary markets to organize the collections into coherent groups but that won’t be until next week (so don’t be concerned if things start out looking a bit disorganized). In short: candy.io is game on‼️🔥💪📈
Coming up this week — lots of news on the “diamond economy” including plans for scarcity burns, auctions, and other primary sales (starting with @MLB ) as well as plans to open cash withdrawals. We won’t permit any secondary market trades until the entire mint to @solana is finished so maybe the end of the week for that one.
As ever, individual issues can be addressed at fan-help@candy.io
P.S. @nyknicks in 5‼️🏀🏆
Early this morning @CandyDigital started the mint of active fans’ digital collectibles on @solana using @metaplex core. First up is the top level tokens that administer each collection but fans may see signs of progress on their own assets when they log in to Candy.io beginning Monday. (True degens may see progress on-chain before then if they dig around.) Our CTO made some progress on speeding up the mint so (although he won’t commit), I am hopeful we will cut the time down a few days. We are also working with secondary markets to organize the collections into coherent groups but that won’t be until next week (so don’t be concerned if things start out looking a bit disorganized). In short: candy.io is game on‼️🔥💪📈
Coming up this week — lots of news on the “diamond economy” including plans for scarcity burns, auctions, and other primary sales (starting with @MLB ) as well as plans to open cash withdrawals. We won’t permit any secondary market trades until the entire mint to @solana is finished so maybe the end of the week for that one.
As ever, individual issues can be addressed at fan-help@candy.io
P.S. @nyknicks in 5‼️🏀🏆
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Brian Grace retweeted
We quietly minted our first batch of collectibles using the Metaplex Core Token Standard.
Core opens the door to new collectible formats, new experiences, and a few things that no other token standard can do.
We've been eager to build these things for a long time.
Core opens the door to new collectible formats, new experiences, and a few things that no other token standard can do.
We've been eager to build these things for a long time.
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Brian Grace retweeted
"We've processed 47M @x402 transactions on @solana"
@strangeviews15 just showed how @metaplex is building Solana's agentic future.
@strangeviews15 just showed how @metaplex is building Solana's agentic future.
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I want to share a quick story from a friend, who recently had ~$450k almost phished from a wallet
Thanks to @SEAL_911 - it was all completely recovered and returned. A happy ending that deserves highlighting!
I knew SEAL 911 existed, but this was the first time I've saw them in action.
Here's the story:
A friend got phished from a fake Ledger Live app (on the Apple App Store 2 weeks?!). His ETH was staked on Figment, and the phisher executed the withdrawal transaction, and the ETH entered the withdrawal queue.
He reached out to the Seal 911 group and within 15 min, he was on a discord call with the White Hat Recovery team.
You could imagine how shitty my friend felt, assuming that the $450k of ETH was simply going to be withdrawn and immediately captured by the attacker.
They made him feel at ease, shared case studies of similar rescues and said they charge 5% (totally agreeable amount imo) of whatever funds they recovered.
The tension was all down to the single block that the ETH became available for withdrawal after the exit-queue finished. $450k riding on a 12 second window.
My poor friend had to wait 4 days while this all hung in the balance lol.
The day finally came. Seal 911 has set up a script with Flashbots to engage in the bidding war required to access the funds. At 11pm that night, he received the long-awaited message:
“got it all, best possible outcome.”
Within 10 min, the funds were distributed to his new ETH wallet and the job was done.
Kudos to the Seal 911 team, really amazing group of professionals.
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One interesting part of the opinion: the Court explicitly says recent SEC guidance is not binding/persuasive but the Court reached the same conclusion as the SEC that a bonding curve memecoin w/o a concrete roadmap fails to satisfy the Howey test.
New litigation development re: memecoins: C.D. Cal.’s Judge Blumenfeld just dismissed claims against Caitlyn Jenner over the $JENNER memecoin, holding the token is not a security. The order is a pretty clean articulation of why most memecoins likely fail Howey. 🧵
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You should also ensure users click to accept for any app/product. This makes it much easier to rely on your t&cs if you need to enforce them.
I am begging you BEGGING YOU, please draft real terms and conditions.
These can either make you or literally break you.
Please.
*I say this as someone that has been reading through countless in prep for a lawsuit. Most are straight garbage.
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