Bessie Liu

DeFi protocols this week have largely kept the momentum going when it comes to taking in fresh venture capital dollars.&nbsp;



Investment platform Exponential — which specializes in decentralized yield opportunities — closed a $14 million seed round led by Paradigm.



Other investors that participated included Huan Ventures, FTX Ventures, Solana Ventures and Polygon.&nbsp;



Exponential plans to use the capital injection to continue developing DeFi products so that day-to-day investors can tap high-yield plays.&nbsp;



“We’ve assembled an all-star team of former Uber and Amazon employees with diverse expertise across engineering, crypto, fintech, and consumer products,” the co-founders of Exponential <a href="https://exponential.fi/blog/take-the-mystery-out-of-defi-with-exponential" target="_blank" rel="noreferrer noopener">wrote</a> in a blog post.



Centrifuge — a protocol that allows small businesses to access DeFi liquidity by putting down real-world assets — meanwhile raised a $4 million strategic round. It saw participation from Coinbase Ventures, L1 Digital and Scytale.



Investment firm BlockTower previously inked a $3 million strategic partnership with Centrifuge and has since financed over $182 million worth of real-world assets with DeFi liquidity.



&#8220;We’re building the credit market of the future and along with that we need to build out the financial ecosystem for institutions to transact on-chain,” said Lucas Vogelsang, Centrifuge’s chief executive.&nbsp;



&#8220;Partners like Coinbase and BlockTower are essential in building critical parts of this infrastructure, as Centrifuge becomes the go-to platform for real-world assets and on chain secured credit,” Vogelsang added.



Web3 communications protocol company WalletConnect also secured $12.5 million in an ecosystem round, with participation from the likes of Shopify, Coinbase Ventures, ConsenSys, Circle Ventures, Polygon and Uniswap Labs Ventures.



WalletConnect has earmarked the funding for the continued development of its encrypted communications technology. So far, its product has been integrated with more than 210 wallets and 450 apps and services including MetaMask, Uniswap and OpenSea.



Another wallet, Braavos, also received funding this week.



The cryptoasset management solution that offers smart-contract based wallets closed a $10 million financing round led by Pantrea Capital.&nbsp;



Braavos plans to use the latest fundraise to launch a suite of products — including a “forgot password” mechanism, multi-factor authentication and built-in DeFi capabilities for one-click yield inside the wallet.



“Our mission is to eliminate these high friction hurdles and provide users with the smooth experience they deserve, while preserving the core crypto values of decentralization and self-custody,” Motty Lavie, founder and CEO of Braavos, said in a statement.&nbsp;&nbsp;



Other noteworthy funding rounds this week include:



<ul><li>P​​ortuguese startup RealFevr closed a 10 million euro Series A, led by global sports investor ADvantage, to build a Web3 gaming finance sports ecosystem.</li><li>Dubai-based Trace Metaverse secured $3.5 million in a seed round to build a geo-location-based metaverse.</li><li>Australian startup Fluidity Money secured $1.3 million from BitScale in its seed round.</li></ul>



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Funding Roundup: DeFi Developers Have the Attention of Venture Capitalists

Ben Strack

<div id="highlights-block_6359783c5c706" class="highlights">
 <ul>
 <li>The bank&#8217;s digital wallet is “a proof of concept” that may never launch, according to a JPMorgan disclaimer</li>
 <li>Co-founder of decentralized Web3 passport creator Quadrata considers JPMorgan’s potential entrance in this space a positive</li>
 </ul>
 
</div>



JPMorgan is exploring the idea of a digital wallet that would allow users to control their digital identity and assets across platforms, though the potential offering’s level of decentralization remains to be seen.



The banking giant <a href="https://www.jpmorgan.com/onyx/content-hub/digital-identity-in-web3.htm" target="_blank" rel="noreferrer noopener">published a video</a> detailing a planned solution enabling people to choose the identity credentials they want to share in their interactions across Web3, the metaverse and DeFi protocols.



“As digital asset portability and ownership become more prevalent, you’ll need a digital identity that puts you in control over your identity credentials, enabling you to prove who you are, wherever you are by sharing only what you want to share,” the video says. “Imagine using only your credit score to take advantage of buy-now-pay-later options without revealing all of your personal information.”



Such a digital wallet could help people prove ownership of their NFTs, the video adds, as well as move the content they have created to a different platform.&nbsp;&nbsp;&nbsp;



A disclaimer at the end of the video notes that the digital wallet is “a proof of concept” and that there is no guarantee the company would launch such a solution.&nbsp;



A JPMorgan spokesperson declined to comment.&nbsp;



<h3>Digital identity not a new problem</h3>



Microsoft launched <a href="https://identity.foundation/ion/" target="_blank" rel="noreferrer noopener">ION</a> — a permissionless identification network — on Bitcoin mainnet in March 2021. The company noted <a href="https://techcommunity.microsoft.com/t5/identity-standards-blog/ion-we-have-liftoff/ba-p/1441555" target="_blank" rel="noreferrer noopener">in a blog post</a> that it had been developing decentralized identity for four years prior to the launch. 



Unlike traditional usernames and email addresses, decentralized identifiers are owned and controlled by the entity itself and can be used to secure access to resources, sign and verify credentials and facilitate application data exchange, according to Microsoft.



Jonathan Howle, co-founder of <a href="https://www.disco.xyz/" target="_blank" rel="noreferrer noopener">Disco</a>, told Blockworks in July that <a href="https://cms.blockworks.co/gitcoin-passport-to-make-fundraising-governance-more-fair/" target="_blank" rel="noreferrer noopener">decentralized identification can bridge existing trust gaps</a> in Web3, such as undercollateralized loans in DeFi and verifiable authorship in NFTs.



The South Korean government is set to allow citizens to <a href="https://cms.blockworks.co/south-korea-to-roll-out-blockchain-based-identity-report/" target="_blank" rel="noreferrer noopener">verify their identity via digital IDs</a> embedded into their smartphones by 2024, <a href="https://www.bloomberg.com/news/articles/2022-10-16/south-korea-aims-to-boost-economy-with-digital-id-on-blockchain?leadSource=uverify%20wall" target="_blank" rel="noreferrer noopener">Bloomberg reported</a> last week. 



Lisa Fridman, a co-founder of <a href="https://quadrata.com/" target="_blank" rel="noreferrer noopener">Quadrata</a>, said she agrees with JPMorgan&#8217;s view that a digital identity solution should allow users to selectively release information about their identity without revealing personally identifiable information. Quadrata launched a Web3 passport that is now live on the Ethereum mainnet and Polygon and is focused on integrating with applications to build a decentralized ecosystem, she said. 



The Quadrata co-founder added that it is hard to know during the proof-of-concept stage how decentralized JPMorgan’s potential offering would be. Still, she sees the development as a potential positive.&nbsp;&nbsp;&nbsp;



<blockquote class="wp-block-quote">“It is great to see leading traditional financial institutions like JPMorgan entering this space,” Fridman told Blockworks.</blockquote>



“We look forward to exploring potential collaboration on identity solutions with them,” she added.



<h3>The JPMorgan crypto journey</h3>



<a href="https://www.cnbc.com/2020/10/27/jpmorgan-creates-new-unit-for-blockchain-projects-as-it-says-the-technology-is-close-to-making-money.html" target="_blank" rel="noreferrer noopener">JPMorgan launched Onyx</a> — a unit developing a blockchain-based platform for wholesale payments transactions — in October 2020. The firm revealed at the time that its digital currency, <a href="https://www.jpmorgan.com/onyx/coin-system.htm" target="_blank" rel="noreferrer noopener">JPM Coin</a>, was being used commercially for the first time by a technology company for cross-border payments.



JPMorgan Chase hired an executive director of digital assets regulatory policy earlier this month, despite CEO Jamie Dimon calling crypto tokens “decentralized Ponzi schemes” in congressional testimony in September.



The bank has dipped its toes in the crypto space in various ways this year, making <a href="https://cms.blockworks.co/jpmorgan-chase-strategically-invests-in-blockchain-focused-trm-labs/" target="_blank" rel="noreferrer noopener">a strategic investment</a> in blockchain intelligence company TRM Labs in February.



Earlier that month, the company <a href="https://cms.blockworks.co/jpmorgan-enters-the-metaverse-with-virtual-decentraland-lounge/" target="_blank" rel="noreferrer noopener">unveiled a virtual lounge</a> in blockchain-based world Decentraland. The bank said in a report at the time that the metaverse has a market opportunity of $1 trillion in yearly revenue as creators increasingly turn to Web3 to monetize their work.



Analysts at the bank also said <a href="https://cms.blockworks.co/crypto-leapfrogs-real-estate-jpmorgan-says/" target="_blank" rel="noreferrer noopener">in a May report</a> that digital assets had replaced real estate as JPMorgan’s “preferred alternative asset class.”



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JPMorgan Exploring Applications of Digital Identity

Casey Wagner

<div id="highlights-block_63331874263dc" class="highlights">
 <ul>
 <li>Robinhood’s Web3 wallet enters beta testing with 10,000 users</li>
 <li>Polygon is currently the exclusive blockchain, but Robinhood expects the product to be multichain going forward</li>
 </ul>
 
</div>



Trading app Robinhood has rolled out a new Web3 self-custody wallet for select iOS customers, the company announced Tuesday.&nbsp;



Ten thousand Robinhood users who joined the waitlist in May will be able to beta test the product, the company said. The new product, called Robinhood Wallet, will support Polygon’s proof-of-stake chain as its first blockchain.&nbsp;



“We chose Polygon due to its scalability, speed, low network fees, and robust developer ecosystem to provide one of the best trading experiences for customers,” Robinhood wrote in a Tuesday <a href="https://blog.robinhood.com/news/robinhood-wallet-beta-now-live" target="_blank" rel="noreferrer noopener">blog post</a>. 



Polygon also became the first Ethereum-compatible blockchain, after Ethereum itself, to be <a href="https://twitter.com/Blockworks_/status/1540067145270398978" target="_blank" rel="noreferrer noopener">supported by Coinbase</a> for withdrawals and deposits of ether, Polygon’s native token MATIC, and the USDC stablecoin, in June.



Robinhood plans to eventually make its wallet a multichain product, the company added, and open the wallet to more users.



<h3>Robinhood’s crypto ambitions</h3>



The news comes shortly after Robinhood announced a roughly 23% decrease in its staff after a <a href="https://blog.robinhood.com/news/robinhood-wallet-beta-now-live" target="_blank" rel="noreferrer noopener">round of layoffs</a> in August. At the time, the stock and crypto trading platform said it estimates its total 2022 operating expenses to be roughly $1.7 billion, a nearly 10% decrease from the year prior. 



The headcount reduction did not slow the company’s crypto expansion plans, but deteriorating market conditions have dampened investor interest in digital asset investments.&nbsp;



In April, Robinhood agreed to purchase UK-based crypto exchange Ziglu for $170 million, before reducing its offer to $72.5 million in August.&nbsp;



“The board has spent significant time in discussion with Robinhood’s CEO and executive team negotiating and improving the terms of their revised offer,” Ziglu founder Mark Hipperson wrote in a letter to shareholders at the time. “Based on these discussions and other considerations, we believe the revised proposal&#8230;is the best and only reasonable path forward for the company.”&nbsp;



Robinhood, which has offered cryptocurrency trading since 2018, first announced its Robinhood Wallet plans in May. As of the second quarter of 2022, Robinhood currently has 14 million active monthly users, a 1.9 million decrease from the quarter prior, according to its latest <a href="https://investors.robinhood.com/news/news-details/2022/Robinhood-Reports-Second-Quarter-2022-Results/default.aspx#:~:text=(%E2%80%9CRobinhood%E2%80%9D)%20(NASDAQ,11%25%20sequentially%20to%20%24113%20million." target="_blank" rel="noreferrer noopener">earnings report</a>.



The platform did not reveal how many customers trade crypto, but it noted that cryptocurrency transaction-based revenue increased 7% from the first to second quarter.&nbsp;&nbsp;



Co-founder and CEO of Robinhood Vlad Tenev said the goal of the product was to simplify the often “clunky” and “cumbersome” design featured in decentralized finance, Web3 and&nbsp;



non-custodial wallets, during Blockwork’s Permissionless event in West Palm Beach, Florida following the announcement.&nbsp;



“There’s got to be a way to get all the security and privacy benefits of self custody with the low-cost simplicity and mobile-first design that you’re accustomed to with TradFi products,” Tenev added. 



Robinhood is still accepting users to the Wallet <a href="https://robinhood.com/web3-wallet/?utm_source=twitter" target="_blank" rel="noreferrer noopener">waitlist</a>, the company said on <a href="https://twitter.com/RobinhoodApp/status/1574745820573966336?s=20&amp;t=aSh98I7bPG1abrDmLOh5Wg" target="_blank" rel="noreferrer noopener">Twitter</a>, but did not reveal when the program will become widely available.



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Robinhood Beta Tests New Web3 Wallet With Polygon as First Blockchain

Ornella Hernandez

<div id="highlights-block_62fcdb453f067" class="highlights">
 <ul>
 <li>NFTfi is to become the first NFT lending platform to offer its users NFT rights management enabled loans</li>
 <li>Gnosis Safe recently rebranded to Safe following $100M raise</li>
 </ul>
 
</div>



The NFT lending protocol NFTfi and digital asset manager Safe, formerly Gnosis Safe, partnered to develop a new product for non-fungible token owners intended to provide added value to digital assets.



Usually, an NFT owner’s rights — to display an NFT, access token-gated content, sign transactions with it or receive an airdrop, for example — are tied to the blockchain address associated with the wallet holding the NFT.&nbsp;



When that digital asset is transferred out of that wallet, such as in the case of an NFT-collateralized loan or NFT rental, the holder may essentially be giving up physical ownership.&nbsp;



The challenge is to improve NFT rights efficiency. The solution proposed by NFTfi and Safe is an NFT Rights Management Wallet to allow Safe Ethereum wallet users to segregate and delegate certain rights and permissions associated with an NFT to other Ethereum addresses.&nbsp;



As part of the partnership, Safe announced an investment of an undisclosed amount in NFTfi, which will become part of the Safe product suite. Gnosis Safe recently rebranded to Safe following a <a href="https://snapshot.org/#/gnosis.eth/proposal/0x5187694133abfb3d140acce3b9ac2ecf033c657c816a18dc25d2e0c1a2a29ec7" target="_blank" rel="noreferrer noopener">community vote</a> to spin-off and a <a href="https://cms.blockworks.co/gnosis-spinoff-safe-gets-100m-to-further-ecosystem/" target="_blank" rel="noreferrer noopener">$100 million injection of capital led by 1kx</a> crypto fund.  



Web3 development studio BootNode led the technical implementation of the open-source NFT Rights Management Wallet product.



<h3>What are the benefits of a NFTfi NFT wallet?</h3>



Stephen Young, CEO of NFTfi, told Blockworks that the Rights Management Wallet is not use case specific, and that the long-term vision is to “usher in a new era of utility” and “unlock tremendous value for the entire NFT space.”



The immediate benefit for NFTfi, according to Young, is that it makes loans more convenient and cheap. If an NFT is used as collateral in a secured NFT loan, it is moved to an escrow third party wallet for the duration of the loan.&nbsp;



Programmable NFT assets plus rights management technology, on the other hand, would permit the NFT owner to delegate transfer rights to NFTfi, instead of transferring the asset for the loan period, while still retaining full NFT ownership.&nbsp;



As NFT financial products such as loans, liquidity tools and derivatives become more robust, NFTfi aspires to become the leading settlement layer for NFT financial transactions, added Young.&nbsp;



“It pursues a platform strategy in which external developers and teams can build agreement types, such as rentals or options, and use NFTfi&#8217;s existing distribution and liquidity to build profitable services on top” Young said.



Lukas Schor, the co-Founder of Safe, confirmed that the investment in NFTfi was not financed through the recent funding round because it occurred before the official spin-off from Gnosis and before the funding round was concluded.



When asked why Safe is focusing on NFT rights management, Schor said that Safe has already “gained significant traction with big treasuries” and that NFTs are an “important driver for retail users to adopt more secure self-custody setups.”&nbsp;



<blockquote class="wp-block-quote">“With NFTs we think the awareness of retail to seek out more robust options is much higher. Besides the monetary value, NFTs also have emotional, sentimental and cultural value which make them irreplaceable in case they’d get lost,” Schor added. </blockquote>



In a statement shared with Blockworks, Manu Garcia, the CEO and co-founder of BootNode said that the project will enable rights efficiency, “which is to NFTs what capital efficiency is to DeFi.”



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NFTfi Partners With Safe To Create First NFT Rights Management Wallet

<div id="highlights-block_62eaf20170465" class="highlights">
 <ul>
 <li>Investigations suggest private keys were exposed and transferred to third party</li>
 <li>Slope recommended users to open a new Slope wallet with a new seed phrase and transfer any assets to the new wallet</li>
 </ul>
 
</div>



Solana developers are distancing the protocol from a series of hacks that resulted in nearly 8,000 Solana wallets suddenly being <a href="https://cms.blockworks.co/clues-but-no-clarity-in-mysterious-solana-wallet-hack/" target="_blank" rel="noreferrer noopener">emptied</a> of their contents in the last 24 hours.



Solana Status, the blockchain’s hub for data and system performance, said “there is no evidence that the Solana protocol or its cryptography was compromised.”&nbsp;



What exactly caused the hack, then, is up in the air, but it appears to have originated from a vulnerability in Solana hot wallets and assorted third-party extensions. The breach impacted millions of dollars of the blockchain’s native token, SOL, non-fungible tokens (NFTs) and Solana-based tokens, including the stablecoin USDC.



The breach appears to have affected addresses that “were at one point created, imported, or used in Slope [Finance] mobile wallet applications,” according to Solana Status.



That would isolate the incident to Slope accounts, and to an exploit in “private key information” that was “transmitted to an application monitoring service” or third party.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">There is no evidence the Solana protocol or its cryptography was compromised. 3/3&mdash; Solana Status (@SolanaStatus) <a href="https://twitter.com/SolanaStatus/status/1554921399055257600?ref_src=twsrc%5Etfw">August 3, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



As such, seed phrases that Slope had access to could have exposed wallets to the unidentified hackers.



That appears to be why many Phantom wallets were also compromised, likely “due to complications related to importing accounts to and from a Slope wallet,” Phantom <a href="https://twitter.com/phantom/status/1554918069721604100?s=20&amp;t=S-iwRKgDTuCjvt2f7If0Kw" target="_blank" rel="noreferrer noopener">tweeted</a>. 



Phantom also encouraged users to create a new non-Slope wallet with a fresh seed phrase to move their assets to, in response to a statement <a href="https://slope-finance.medium.com/slopes-official-statement-regarding-the-breach-b964e70af0d6" target="_blank" rel="noreferrer noopener">published</a> by Slope.



Slope recommended users create a new wallet on its network with a corresponding, unique seed phrase, and transfer any assets to this new wallet. It also reiterated its commitment to “identify and rectify” the issue, but it has not “fully confirmed the nature of the breach.”&nbsp;



Consensus points to Slope being able to store users’ encrypted private keys and seed phrases, decipher them as plain text and transfer them to their own centralized servers, as <a href="https://twitter.com/0xfoobar/status/1554904067411001346?s=20&amp;t=kT2iagGWKFuy7m6O9OHs7A" target="_blank" rel="noreferrer noopener">suggested</a> by developer 0xfoobar.



Arthur Breitman, co-founder of Tezos, told Blockworks he believes there will likely be a bailout from venture capital firms and other asset managers, “even though this opens them up to unverifiable fraudulent claims.&#8221;



Anatoly Yakovenko, Solana Labs co-founder, tweeted that users ought to “order a ledger, setup a cold wallet!”&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">Order a ledger, setup a cold wallet! Start practicing the cold/hot wallet separation daily and tell all your friends how to do it.&mdash; SMS aey.sol, 🇺🇸 (@aeyakovenko) <a href="https://twitter.com/aeyakovenko/status/1554946827996213248?ref_src=twsrc%5Etfw">August 3, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>





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Solana Network Was Not Breached, Slope Wallet Blamed

Sebastian Sinclair

<div id="highlights-block_62ccf5e97668a" class="highlights">
 <ul>
 <li>Early-stage crypto fund 1kx led the round, which also saw participation from the likes of Tiger Global, A&#038;T Capital and Blockchain Capital </li>
 <li>The strategic funding round comes as investments in the industry have taken a hit in recent weeks</li>
 </ul>
 
</div>



Stewards of Ethereum-based Web3 wallet Gnosis Safe said Tuesday they&#8217;ve received millions of dollars in funding from industry veterans ahead of a planned pivot toward becoming a full-fledged digital asset management platform.



Originally tooled as an Ethereum-based multi-signature smart contract wallet, Gnosis Safe has dropped its blockchain namesake and rebranded to &#8220;Safe&#8221; following a <a href="https://snapshot.org/#/gnosis.eth/proposal/0x5187694133abfb3d140acce3b9ac2ecf033c657c816a18dc25d2e0c1a2a29ec7" target="_blank" rel="noreferrer noopener">community vote</a> to spin off from Gnosis Ltd in April, according to a statement.



<blockquote class="wp-block-quote">&#8220;For mainstream adoption of Web3, we need to overcome the risks and limitations of private key accounts,&#8221;Safe co-founder Lukas Schor said.</blockquote>



Non-profit organization Safe Ecosystem Foundation — development contributors to the Safe platform — has picked up $100 million for its efforts via a strategic funding round led by early-stage crypto fund 1kx.



Both the funding and strategic alliances will help Safe further its ambition of growing out an ecosystem of applications and tools to be built atop its smart contract account protocol, the foundation said.



The round, which comes as <a href="https://cms.blockworks.co/vc-funding-slows-again-in-june-but-experts-say-worthwhile-projects-will-get-money/" target="_blank" rel="noreferrer noopener">investments</a> in the industry have taken a hit in recent weeks, was also joined by industry heavyweights Tiger Global, A&amp;T Capital, Blockchain Capital and Digital Currency Group. 



A further 50 strategic partners and industry experts including Kraken Ventures, GSR, Polygon, ParaFi, Lightspeed, Polymorphic Capital and Superscrypt also participated.



Specifically, Safe evolved from a multi-signature application designed to leverage more than two parties to securely store user funds. Traditional Web3 accounts, including most crypto wallets, are controlled by a single private key that is often derived from a 24-word secret phrase. 



Safe attempts to decrease the point of failure resulting from a single key by spreading the risk to multiple parties in a group to green light a transaction before it is executed. The platform has since grown to include a decentralized autonomous organization, SafeDAO, as well as a native token, SAFE.



Built around its smart contracts protocol infrastructure, Safe plans to evolve into a platform designed to foster a host of other applications, including wallets.



Its developers said that as a self-custody solution, Safe has so far processed more than <a href="https://dune.com/queries/1173" target="_blank" rel="noreferrer noopener">600,000 transactions</a> with digital assets exceeding <a href="https://dune.com/gnosis_safe/Gnosis-Safe" target="_blank" rel="noreferrer noopener">$38 billion</a> under its belt. Many DAOs manage their treasury assets using Gnosis Safe.



The funding, the company said, will be used to build on its early success as it attempts to secure Web3 infrastructure.



&#8220;Safe provides a critical public good as a composable and use-case agnostic smart contract account that can control digital assets, data and identities,&#8221; Schor said.



&#8220;The transition towards smart contract accounts will be a joined effort by the entire Web3 community.&#8221;



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Gnosis Spinoff Safe Gets $100M To Further Ecosystem

<div id="highlights-block_62aa2d415a283" class="highlights">
 <ul>
 <li>The discovered vulnerability exposes browser wallet users’ secret recovery phrases</li>
 <li>Affected wallet providers were contacted, and the vulnerability was kept confidential until the security issues were remediated</li>
 </ul>
 
</div>



A number of popular browser-based crypto wallets are vulnerable to hacking under certain conditions, according to new research. 



Blockchain security firm Halborn found several instances where wallets including Brave, MetaMask and Phantom can be compromised under specific computer conditions — adding yet another wrinkle to traders still reeling from recent high-profile decentralized finance (DeFi) hacks.&nbsp;



The conditions can expose a crypto wallet user’s secret recovery phrase (a series of words generated that gives the owner access to their crypto), which can then be used to change their private key. All told, billions of dollars of digital assets are stored in software wallets.&nbsp;



Affected wallet providers were contacted and the vulnerability was kept under wraps until the security issues were remediated.



<h3>Who is affected? </h3>



Users who meet the following conditions may be at risk:



<ul><li>Users who have unencrypted hard drives</li><li>Users who have previously imported their secret recovery phrase into a web extension on a device that is in the possession of someone else or have had their computer compromised</li><li>Users who have used the “show secret recovery phrase” checkbox to view their secret recovery phrase on-screen during the import process</li></ul>



Cryptocurrency wallets like the ones impacted by this vulnerability, such as Metamask, are a self-custody wallet — meaning users alone are responsible for safeguarding their private keys. 



“Exchanges like Coinbase or Binance usually hold custody of those keys on the behalf of their customers,” Steven Walbroehl, Halborn’s chief security officer and co-founder, told Blockworks.



“This impact is only for those that self-custody those assets, and it is the users&#8217; responsibility to take it seriously, upgrade the wallets to the patched version listed on the wallet developer&#8217;s websites, and to rotate their mnemonic phrase if they think it may be at risk,” Walbroehl said.&nbsp;



MetaMask has <a href="https://medium.com/metamask/security-notice-extension-disk-encryption-issue-d437d4250863" target="_blank" rel="noreferrer noopener">asked</a> users to update their extension versions to 10.11.3 and later and to “take the time to enable full disk encryption on computers.”



Echoing Walbroehl, Dan Finlay, founder and group manager at MetaMask <a href="https://medium.com/metamask/security-notice-extension-disk-encryption-issue-d437d4250863" target="_blank" rel="noreferrer noopener">wrote in a blog post</a> that users should “remember that it’s your responsibility to keep your computer secure. No wallet or software can keep itself safe if the system it runs on is compromised. Take time to learn how to avoid installing a virus on your computer.” 



Phantom, meanwhile, wrote in a <a href="https://phantom.app/blog/demonic-vulnerability" target="_blank" rel="noreferrer noopener">blog post</a> that to protect themselves on Web3, on top of general internet safety measures, users should diversify their wallets to minimize risk and use hardware wallets to store large amounts of assets and currencies.



“Other mitigations include storing the mnemonic phrase/key on a hardware-based wallet like Trezor or Ledger. These wallets still work with software wallets like Metamask when physically connected via a USB cable&#8230;but it protects the keys from attackers that may access your disk,” Walbroehl said.



Halborn has been rewarded $50,000. The wallet providers did not immediately return requests for comment.



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Security Threat Exposed for Browser-based Crypto Wallets

Shalini Nagarajan

<div id="highlights-block_62a075457a2ad" class="highlights">
 <ul>
 <li>Select US users can transfer bitcoin, ethereum, bitcoin cash and litecoin to other wallets and exchanges</li>
 <li>Sending crypto outside of PayPal carries a fee determined by network congestion</li>
 </ul>
 
</div>



PayPal users can now transfer cryptocurrencies including bitcoin and ether to third-party wallets and exchanges, nearly two years after the payments giant opened up its platform to digital assets, the company announced on Tuesday.



Currently available to select US users, the feature will be extended to eligible US customers in the coming weeks, according to the <a href="https://newsroom.paypal-corp.com/2022-06-07-PayPal-Users-Can-Now-Transfer-Send-and-Receive-Bitcoin-Ethereum-Bitcoin-Cash-and-Litecoin" target="_blank" rel="noreferrer noopener">announcement</a>.



The San Jose, California-based company first began allowing customers to <a href="https://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency" target="_blank" rel="noreferrer noopener">buy, hold and sell</a> bitcoin, ether, bitcoin cash and litecoin in October 2020. But they had no option to move out their holdings from the platform to crypto wallets such as MetaMask and Electrum, or exchanges such as Coinbase.



This feature was one of the most requested updates since the purchase of cryptocurrencies were allowed, PayPal said, and executives had been discussing its implementation for a year.



Now users will be able to move their cryptocurrency from PayPal to other crypto addresses, including hardware wallets — and send crypto to family and friends for free within the same payments network. Sending cryptocurrency outside of PayPal carries a fee, which may fluctuate depending on network congestion.


<div class="wp-block-image">
<figure class="alignright is-resized"><a href="https://lh3.googleusercontent.com/JgSA8dGIUX2lsgumZ5P1vEALBga8bun-aGC85F9isEqWuG9qMPfwKRn1qx0osQGfM16IoxrcIylvVL1bpu-8cedE-dswKommurHldMNLXArR55a-aH64IvtPrhfUrHb4Ksxk-yB2oG1bu7Qfuw" target="_blank" rel="noreferrer noopener"><img loading="lazy" src="https://lh3.googleusercontent.com/JgSA8dGIUX2lsgumZ5P1vEALBga8bun-aGC85F9isEqWuG9qMPfwKRn1qx0osQGfM16IoxrcIylvVL1bpu-8cedE-dswKommurHldMNLXArR55a-aH64IvtPrhfUrHb4Ksxk-yB2oG1bu7Qfuw" alt="The fintech giant first enabled crypto buying and selling in late 2020, but users couldn’t transfer their assets to third-party wallets" width="395" height="205"/></a></figure></div>


The capability still applies only to bitcoin, ethereum, bitcoin cash and litecoin.



PayPal’s announcement carries weight, as the fintech giant has more than 426 million active users who use the network to transfer money around the world and to make payments to merchants.



In March last year, PayPal rolled out the ability for US customers to use crypto as a form of payment to merchants using its “<a href="https://newsroom.paypal-corp.com/2021-03-30-PayPal-Launches-Checkout-with-Crypto" target="_blank" rel="noreferrer noopener">Checkout with Crypto</a>” service.&nbsp;



“We will continue to roll out additional crypto features, products, and services in the months ahead,” Jose Fernandez da Ponte, general manager of blockchain, crypto and digital currencies at PayPal, said in a statement.



Dan Schulman, PayPal’s president and CEO, revealed last year the firm’s <a href="https://cms.blockworks.co/paypal-ceo-smart-contracts-defi-apps-part-of-companys-crypto-plans/" target="_blank" rel="noreferrer noopener">crypto capabilities</a> will expand into the use of central bank digital currencies and smart contracts.&nbsp;



Some of PayPal’s revenue stems from crypto purchases made on its platform, but the exact amount isn’t clear because the company excludes this figure from its total payment volume.



Venmo, a popular payments app owned by PayPal, supports the buying and selling of cryptocurrencies but doesn’t yet have the ability to transfer them externally. 



As for Robinhood, the trading app rolled out a <a href="https://cms.blockworks.co/robinhood-deploys-beta-crypto-wallets-allowing-select-customers-to-transfer-off-platform/" target="_blank" rel="noreferrer noopener">beta version</a> of its crypto wallet to 1,000 customers that allowed them to transfer digital assets to other crypto wallets for the first time in January. It later opened the feature to <a href="https://cms.blockworks.co/robinhood-opens-crypto-wallet-service-to-2-million-more-users/" target="_blank" rel="noreferrer noopener">2 million</a> more “eligible” users — <a href="https://blog.robinhood.com/news/2022/3/28/the-future-of-investing-is-247-s8ksg" target="_blank" rel="noreferrer noopener">excluding</a> those in New York, Hawaii and Nevada, due to regulatory hurdles.



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PayPal Enables Crypto Transfers to External Wallets, Exchanges

<div id="highlights-block_6283b12b5c0e0" class="highlights">
 <ul>
 <li>Robinhood is planning to develop a new digital wallet catered toward Web3 activity and functionality</li>
 <li>It&#8217;s a significant step for the stock trading app which only initially allowed its users to hold crypto within its ecosystem</li>
 </ul>
 
</div>



Stock trading platform Robinhood said it plans to develop a new digital Web3 wallet that will enable users, for the first time, to store their NFTs as well as connect them to online marketplaces.



In a press release on Tuesday, the platform said its new non-custodial &#8220;Robinhood 3&#8221; wallet would allow users to hold the keys for their own crypto, earn yield and trade or swap crypto, including NFTs (non-fungible tokens), without network fees. Commissions on transactions will also not be charged, the company said.



Co-founder and CEO of Robinhood Vlad Tenev speaking at Blockwork&#8217;s Permissionless event in West Palm Beach, Florida on Tuesday said the aim was to simplify the often &#8220;clunky&#8221; and &#8220;cumbersome&#8221; design featured in decentralized finance, Web3 and non-custodial wallets.



&#8220;There&#8217;s got to be a way to get all the security and privacy benefits of self custody with the low-cost simplicity and mobile-first design that you&#8217;re accustomed to with TradFi products,&#8221; Tenev said before playing a promotional video of Robinhood&#8217;s wallet to a live audience.



The move marks a significant step for the trading app which previously only allowed users to buy and hold cryptoassets within their Robinhood trading accounts. In February 2021, <a href="https://twitter.com/RobinhoodApp/status/1362143073510121472?s=20&amp;t=gmwdpfswJAPLdcO3ArmPVA" target="_blank" rel="noreferrer noopener">the app flagged</a> interest in enabling transfers off its platform amid heightened interest in crypto.



Robinhood eventually caved to public demand, creating a beta version of their first digital wallet — revealed in September — that was initially eligible to <a href="https://cms.blockworks.co/robinhood-deploys-beta-crypto-wallets-allowing-select-customers-to-transfer-off-platform/" target="_blank" rel="noreferrer noopener">1,000 customers</a> in January. That figure has since ballooned to <a href="https://cms.blockworks.co/robinhood-opens-crypto-wallet-service-to-2-million-more-users/" target="_blank" rel="noreferrer noopener">two million users</a> following a large waitlist.



The functionality of that wallet is currently limited to seven assets including bitcoin, bitcoin cash, bitcoin sv, dogecoin, ether, ether classic and litecoin.



“At Robinhood, we believe that crypto is more than just an asset class,” said Tenev in the release. &#8220;Our web3 wallet will make it easier for everyone to hold their own keys and experience all the opportunities that the open financial system has to offer.”



While Tenev&#8217;s statement makes it clear Robinhood&#8217;s stance on crypto has changed in recent years a reason for its two-pronged crypto wallet approach was not given.



Blockworks attempted to contact Robinhood on that point but did not receive a reply by press time.



Similar to the initial run of its crypto wallet, the app&#8217;s latest Web3 wallet will become available to select customers on a waitlist who will join its Beta program sometime this summer.



Robinhood also said it plans to make the product generally available to all of its customers by year&#8217;s end.



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Robinhood To Build Web3 Wallet in Bid To Capture NFT Hype

<div id="highlights-block_624a3801ea639" class="highlights">
 <ul>
 <li>Trezor said Saturday its newsletter had been breached by an &#8220;insider targeting crypto companies&#8221;</li>
 <li>The domain linked to the breach, ending in the extension .us, has since been taken down, the provider said</li>
 </ul>
 
</div>



Cryptocurrency hardware wallet provider Trezor said Saturday it was investigating a data breach of its opt-in newsletter hosted on marketing platform MailChimp.



A scam email warning of a breach began circulating last week, according to <a href="https://twitter.com/BitcoinUndisc/status/1510419050182193155?s=20&amp;t=OjLsoEmQ57LLJbPRig4NTA" target="_blank" rel="noreferrer noopener">affected users</a>. Trezor then sent a warning via <a href="https://twitter.com/Trezor/status/1510548489884815361?s=20&amp;t=6Trf0ek4sukiiyD2cFGbpw" target="_blank" rel="noreferrer noopener">Twitter</a> asking its users not to open emails originating from the phishing domain &#8220;noreply@trezor.us.&#8221; 



Users took to social media to warn against the scam email impersonating Trezor and its security team, which prompted victims to download the &#8220;latest version of Trezor Suite&#8221; and change their wallet PIN.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><a href="https://twitter.com/Trezor?ref_src=twsrc%5Etfw">@Trezor</a> Just got an email from “noreply@trezor.us” targeting TrezorSuite users. If you got similar, DO NOT ACT upon it. <a href="https://t.co/4cldJ46o3N">pic.twitter.com/4cldJ46o3N</a>&mdash; pbnather (@pbnather) <a href="https://twitter.com/pbnather/status/1510506712612184068?ref_src=twsrc%5Etfw">April 3, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The provider has since managed to take down multiple phishing domains targeting users including Trezor.us, according to a <a href="https://twitter.com/Trezor/status/1510558771944333312" target="_blank" rel="noreferrer noopener">follow-up tweet</a> on Sunday.



<blockquote class="wp-block-quote">&#8220;MailChimp has confirmed that their service has been compromised by an insider targeting crypto companies,&#8221; Trezor said. &#8220;We have managed to take the phishing domain offline. We are trying to determine how many email addresses have been affected.&#8221;</blockquote>



The company also said it would not communicate via its newsletter until the situation is resolved.



Questions have been <a href="https://twitter.com/CryptoShine/status/1510680599614394376?s=20&amp;t=R-0PAyuIpiHEbVXfEhhFYw" target="_blank" rel="noreferrer noopener">raised</a> by the community, wondering why the provider had not already registered top-level domains (TLD) including extensions .us, .net, and .com to prevent such attacks.



Still, <a href="https://twitter.com/0fab1e/status/1510697668946718720?s=20&amp;t=R-0PAyuIpiHEbVXfEhhFYw" target="_blank" rel="noreferrer noopener">some argue</a> hackers could easily circumvent TLD registration by imitating the domain name and changing a single character, such as &#8220;Trez0r,&#8221; to dupe victims.



Trezor did not immediately respond to Blockworks&#8217; request for comment.



This type of attack does not represent a threat to the cryptographic security of the hardware wallet, nor is it the first example of a crypto wallet firm being targeted. Rival hardware wallet manufacturer Ledger suffered a data leak of its marketing database <a href="https://www.ledger.com/addressing-the-july-2020-e-commerce-and-marketing-data-breach" target="_blank" rel="noreferrer noopener">in July 2020</a>, which resulted in its users being the target of phishing attacks and other forms of fraud.



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Hardware Wallet Provider Trezor Targeted in Phishing Attack

<div id="highlights-block_62410b3ae23ed" class="highlights">
 <ul>
 <li>Several amendments within the EU&#8217;s Transfer of Funds Regulation are taking aim at the way crypto transactions from so called &#8220;unhosted wallets&#8221; are handled</li>
 <li>Policymakers are also proposing that for every crypto transfer from an unhosted wallet over 1,000 euro are reported to relevent authorities</li>
 </ul>
 
</div>



The European Parliament is expected to vote on revised anti-money laundering (AML) legislation this week that would force crypto exchanges to share details of their customer&#8217;s anonymous transactions.



In a <a href="https://www.europarl.europa.eu/doceo/document/CJ12-PR-704888_EN.pdf" target="_blank" rel="noreferrer noopener">draft report</a> of the EU&#8217;s Transfer of Funds Regulation (TFR), policymakers are seeking new amendments that regulate the way unhosted digital wallets are treated within the bloc. 



Unhosted wallets, such as Metamask, refer to digital wallets not under the purview of the Financial Action Task Force (FATF) and its definition of a licensed virtual asset service provider (VASP).



Another provision within the document also seeks an obligation of financial institutions to accompany transfers of funds with information of the payer and recipient, even when the recipient isn&#8217;t a customer of a particular VASP.



Under Amendment 124 Section 29(a) the document states:



<blockquote class="wp-block-quote is-style-default">&#8220;In cases of a transfer of crypto-assets made from a distributed ledger address not linked to a crypto-asset service provider, known as an &#8216;unhosted wallet,&#8217; the crypto-asset service provider of the beneficiary should have to obtain information from the beneficiary both on the originator and the beneficiary,&#8221; the draft reads.</blockquote>



The amendments, which have already been criticized by several major industry figures, are expected to be voted on by no later than Thursday. According to major crypto exchange Coinbase&#8217;s Chief Legal Officer <a href="https://blog.coinbase.com/making-your-voice-heard-ahead-of-thursdays-critical-eu-vote-f03730e83e5c">Paul Grewal</a>, the changes are based on &#8220;bad facts&#8221; in the way regulators view crypto as a vehicle for criminal activity.



<blockquote class="wp-block-quote">&#8220;Among the worst of the proposed provisions are new obligations on exchanges to collect, verify and report information on&nbsp;non-customers&nbsp;using self-hosted wallets,&#8221; said Grewal. &#8220;For instance, one provision requires exchanges to not only collect personal data about wallet users who are&nbsp;not&nbsp;their customers, but to also verify the data’s accuracy before allowing a transfer to one of their customers.&#8221;</blockquote>



&#8220;If adopted, this revision would unleash an entire surveillance regime on exchanges like Coinbase, stifle innovation, and undermine the self-hosted wallets that individuals use to securely protect their digital assets,&#8221; Grewal said.



Ironically, Grewal&#8217;s comments come amid the exchange&#8217;s <a href="https://help.coinbase.com/en/coinbase/trading-and-funding/sending-or-receiving-cryptocurrency/how-to-send-crypto" target="_blank" rel="noreferrer noopener">announcement Friday</a> that will require its customers in Singapore, Japan and Canada, who are sending crypto to another exchange, to provide information about their transfers including recipients&#8217; names and addresses.



In July of last year, the European Commission adopted the FATF&#8217;s AML and counter financing of terrorism legislative package in a bid to make it possible to trace crypto transfers.



EU policymakers are claiming the measures are designed to &#8220;ensure crypto-assets from potentially dodgy sources do not enter the regulated financial system.&#8221;



To pass legislation within the EU, the Parliament, representing European citizens, and the Council, representing the governments of the 27 EU member states,&nbsp;must reach an agreement on an&nbsp;<a href="https://www.europarl.europa.eu/RegData/etudes/BRIE/2021/690614/EPRS_BRI(2021)690614_EN.pdf" target="_blank" rel="noreferrer noopener">identical text</a>&nbsp;of a given bill.



According to a <a href="https://twitter.com/paddi_hansen/status/1507741879563132928?s=20&amp;t=XBnbQKH77EVvuKqVWjCroA" target="_blank" rel="noreferrer noopener">tweet thread</a> by Patrick Hansen, DeFi wallet Unstoppable Finance’s head of growth, the EU&#8217;s proposed measures would seek to limit or otherwise force a soft ban on unhosted wallet usage.



<blockquote class="wp-block-quote">&#8220;For every crypto-transfer from an unhosted wallet over 1k EUR, companies are obliged to inform the “competent AML authorities”. For ALL these transactions, even if there is no sign/suspicion of money laundering. This is an absolute violation of privacy rights,” said Hansen.</blockquote>



&#8220;The consequence of this&#8230;is that most crypto companies won’t be able or willing to transact with unhosted wallets anymore in order to stay compliant,&#8221; he said.



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EU to Vote on Revised Regulation Targeting Crypto Transfers

Morgan Chittum

<div id="highlights-block_61e9cb902c84b" class="highlights">
 <ul>
 <li>Users have to pay $2.99 per month to utilize this feature via the Twitter Blue subscription service</li>
 <li>Twitter Inc. (TWTR) is trading 1.35% higher at $37.86 per share</li>
 </ul>
 
</div>



Twitter has brought non-fungible token integration to its platform, the social media giant&nbsp;<a href="https://twitter.com/TwitterBlue/status/1484226540984356864?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1484226540984356864%7Ctwgr%5E%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fwww.theblockcrypto.com%2Fpost%2F131052%2Ftwitter-begins-rolling-out-access-to-nft-profile-pictures" target="_blank" rel="noreferrer noopener">announced</a> on Thursday.&nbsp;



However, users have to pay $2.99 per month via the company’s Twitter Blue subscription service and use an IOS device to utilize the new feature.



Users can link their ether-based wallets to their account and display their digital collectibles as their profile pictures. These wallets include Coinbase Wallet, LedgerLive, MetaMask, Rainbow and Trust Wallet. Profiles with hexagon-shaped pictures have had their NFTs verified with the social media giant.&nbsp;



Twitter did not immediately respond to Blockworks’ request for comment.&nbsp;



​​“Setting up an NFT profile picture means people can associate your Twitter account with your connected wallet’s public crypto wallet address,&#8221; Twitter wrote on its <a href="https://help.twitter.com/en/using-twitter/twitter-blue-labs#nft" target="_blank" rel="noreferrer noopener">website.</a> &#8220;This means your Twitter account will be associated with your current and historical crypto wallet transactions and holdings, including all other NFTs in that wallet, because this information is all available on the public blockchain.&#8221;



<blockquote class="twitter-tweet">Ready to show off your NFT? Follow these simple steps to connect your crypto wallet and let’s see your NFT PFPs! <a href="https://t.co/epSL7VXG5o">pic.twitter.com/epSL7VXG5o</a>— Twitter Blue (@TwitterBlue) <a href="https://twitter.com/TwitterBlue/status/1484226540984356864?ref_src=twsrc%5Etfw">January 20, 2022</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>



The move signals the company’s first official step into the non-fungible token space. However, the company made its debut into the cryptocurrency world in September, announcing that users can tip each other using bitcoin via the Lightning Network, Blockworks previously<a href="https://cms.blockworks.co/twitter-users-can-now-get-paid-in-bitcoin/" target="_blank" rel="noreferrer noopener"> reported.</a>&nbsp;



The news comes on the heels of a Financial Times report about <a href="https://cms.blockworks.co/report-meta-will-incorporate-nfts-into-ambitious-metaverse-plans/" target="_blank" rel="noreferrer noopener">Meta’s alleged NFT plans</a>, which cites several sources saying Meta has discussed launching an NFT marketplace and is developing a feature to allow users to showcase NFTs on their profiles.&nbsp;



Twitter Inc. (TWTR) is trading 1.35% higher at $37.86 per share, at time of publication.&nbsp;&nbsp;



This is a developing story.



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Twitter Integrates NFTs With New Profile-Picture Feature

Jacquelyn Melinek

<div id="highlights-block_60e8585c7fad9" class="highlights">
 <ul>
 <li>“We have decided to build a hardware wallet and service to make bitcoin custody more mainstream,” Dorogusker said</li>
 <li>Dorsey said the wallet would be “entirely in the open, from software to hardware design, and in collaboration with the community”</li>
 </ul>
 
</div>



Square, a digital payments service company led by Twitter CEO Jack Dorsey, is going forward with building a hardware wallet for bitcoin after Dorsey <a href="https://twitter.com/jack/status/1400839179513339905">hinted</a> at the possibility in early June.&nbsp;



The decision was announced in a tweet by Jesse Dorogusker, the hardware lead and TIDAL lead at Square.&nbsp;



“We have decided to build a hardware wallet and service to make bitcoin custody more mainstream,” Dorogusker said.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">We have decided to build a hardware wallet and service to make bitcoin custody more mainstream. We’ll continue to ask and answer questions in the open. This community’s response to our thread about this project has been awesome &#8211; encouraging, generous, collaborative, &amp; inspiring. <a href="https://t.co/CHf9hAmKnn">https://t.co/CHf9hAmKnn</a>&mdash; Jesse Dorogusker (@JesseDorogusker) <a href="https://twitter.com/JesseDorogusker/status/1413222597207134214?ref_src=twsrc%5Etfw">July 8, 2021</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Following Dorogusker’s tweet, Dorsey quoted his tweet and <a href="https://twitter.com/jack/status/1413261505156599809">replied</a>, “We’re doing it #Bitcoin.”



Neither of them provided specific details or a timeline for the product creation and Square was not available for immediate comment, but Dorogusker shared some details about the plan.&nbsp;



Dorogusker said there are still “a lot of questions and issues to reconcile” and the company will start with a production direction of bitcoin first, while supporting multisig to achieve “assisted-self-custody,” and prioritizing mobile use. 



In general, bitcoin hardware wallets are physical devices plugged into a computer or phone that allow owners to securely store and access bitcoin through private keys.



When Dorsey tweeted that Square was considering making a hardware ballet for bitcoin, he <a href="https://twitter.com/jack/status/1400839191320313860">said</a> it would be “entirely in the open, from software to hardware design, and in collaboration with the community.”&nbsp;



He added that they wanted to build “an inclusive product that brings a non-custodial solution to the global market,” making bitcoin for everyone.