It turns out that Ledger can hold some of your crypto wallets keys, if you accept it

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After all the backlash, Ledger attempted to defend its position, but managed to further enrage its users in a now-deleted tweet. Technically speaking, it is and always has been possible to write firmware that makes key extraction easier. You always trusted Ledger not to deploy such firmware, whether you knew it or not.

On Thursday, the company’s technical director, Charles Guillemet, posted a tweet thread in an attempt to put out the fire. If you want to use Ledger Recover, you will need to provide consent on your device for the backup or recovery process.

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This week in web3

Coinbase launches subscription service focused on European expansion (TC+)

Coinbase, the world’s second-largest crypto exchange, is launching its subscription service, Coinbase One, in 35 countries in a bid to build user loyalty and increase its recurring revenue streams as the crypto economy grows. debate in a bear market. Coinbase One was originally introduced in fall 2021 as a beta and will be publicly available starting today in the US, UK, Germany and Ireland, the company told TechCrunch+ exclusively. .

Your first look at Alliance DAO’s latest cohort of web3 startups

Alliance DAO, a community of web3 accelerators and builders, saw its newest cohort, also known as ALL10, pitch their ideas on Wednesday in a demo day, exclusively covered by TechCrunch. The latest cohort provides a good overview of what’s happening in the industry in general, said Qiao Wang, one of the main contributors to Alliance DAO. Many teams are looking to improve popular crypto subsectors, like the Bitcoin network, application chains, rollups as a service, zero-knowledge proofs, physical proof of work, and real-time blockchain data. , to name a few.

LayerZero and Immunefi Launch Largest Crypto Bug Bounty Program With Up to $15M in Rewards

LayerZero Labs, the team behind the LayerZero cross-chain messaging protocol, has teamed up with bug bounty and security services platform Immunefi to launch a $15 million bug bounty for its protocol, Bryan Pellegrino, co-founder and CEO of LayerZero, told TechCrunch exclusively. We have enough money to pay a lot of bonuses. Protocol security comes before anything else, Pellegrino said. The reward money will come from the company’s equity entity, Pellegrino added.

Even if Crypto Exchanges Leave Canada, Coinbase Intends to Play the Long Game (TC+)

The world’s largest crypto exchange, Binance, said last week that it would stop serving Canadian customers due to new stablecoin guidelines and investor limits provided to crypto exchanges. But while the exchange has declared that it will one day return to the country, its exit leaves behind a huge void that its competitors aim to fill. Coinbase, Kraken, Gemini, and Crypto.com are a few big players in the space planning to do just that.

Binance Betting Big on M&As and Venture Capital Deals (TC+)

The world’s largest crypto exchange by volume, Binance, is making big bets on mergers and acquisitions this year, paying close attention to geographic and customer gaps. And helping the exchange achieve this is the company’s Chief Commercial Officer, Yibo Ling. I sat down with Ling at Consensus 2023 to learn more about Binances’ focus on investments, layer 1 blockchains and geographic growth and enterprise products, among a ton of other things.

Pudgy Penguins wants to use its NFT-inspired toys to bring IP to the real world (TC+)

Pudgy Penguins, an (admittedly adorable) NFT collection that also doubles as a web3 IP company, is launching a line of toys dubbed Pudgy Toys, the company’s CEO Luca Netz exclusively told TechCrunch+. The initial launch will include approximately 100,000 toys, priced from $5 to $35, which will be sold online and through international retailers. Each toy comes with a birth certificate and a QR code that unlocks a series of NFTs, or box of traits, on its online platform, Pudgy World, Netz said.

The last capsule

For this week’s episode, Jacquelyn interviewed Sergey Nazarov, co-founder of Chainlink, a protocol that provides an oracle network to power smart contracts.

Chainlink is also known as a web3 service platform that connects people, businesses and data with the web3 world. And for good reason, it has enabled over $7 trillion in transaction volume across DeFi, gaming, NFT, and other major industries.

Prior to co-founding Chainlink, Nazarov co-founded four other companies, most recently SmartContract, which focused on smart contracts.

We discussed a number of things regarding smart contracts, Oracle networks, cross-chain interoperability, and Nazarov’s long-term vision for Chainlink.

We also dove into:

Unexpected use cases of smart contracts Crypto collateral How traditional businesses can tokenize assets AI and blockchain technology CCIP Updates

Subscribe to Chain Reaction on Apple Podcasts, Spotify or your favorite pod platform to keep up with the latest episodes, and leave us a comment if you like what you hear!

Follow the Money Jia, a Blockchain-Based Small Business Lender in Emerging Markets, Raised $4.3M Success with Rihannas’ Music Rights Helps Marketplace Web3 Royal Raise $71M Bitcoin Brokerage River Financial raised $35m in Series B Cormint raised $30m to scale bitcoin mining operations Web3 music company anotherblock raised $4.3m

This list was compiled with information from Messari as well as TechCrunch’s own reports.

To get a roundup of the biggest and most important crypto stories from TechCrunchs delivered to your inbox every Thursday at 12:00 a.m. PT, subscribe here.

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