🔪 1 big thing: Terms of Use treachery 

Illustration of a bomb with lit fuse and Celsius logo

🐩 2. Charted: A tale of two altcoins

 🌄 3. A course on money and the good life

Photo illusration of Andrew Bailey with columns and digital coins.

🏃🏻‍♀️ 4. Catch up quick

Top coins

🎄 5. Culture hash: Bitcoin on sale!

Bitcoin Christmas ornament at Urban Outfitters

Et tu? Thursday is about betrayal in the Terms of Use. Plus, a crash course on the good life. 

So...what did everybody think about the thing? crypto@axios.com

Today's newsletter is 1,149 words, a 4-minute read.

This newsletter was edited by Pete Gannon and copy edited by Carolyn DiPaolo.

👷 Blockchain workers who have fallen on hard times should check out the IlluminatiJOBS Telegram channel. —C & B

Crypto

green

Follow how cryptocurrency and blockchain are upending markets and the regulatory shifts. With Brady Dale.

Axios Crypto

🥾 1 big thing: The U.S. is driving crypto business out

Illustration of a briefcase combined with an emergency exit sign

📊 2. Only Bitmain's very best miner remains profitable

👛 3. Hardware wallet demand is booming

A hand holding a Ledger Stax with a computer screen in the background.

🚤 4. Catch up quick

📺 5. Culture hash: Have a seat

Rep. Maxine Waters would like to see SBF on stage one more time. 

This newsletter might seem to be less about FTX, but the truth is the downward vibe that unwinding has put on everything is the larger story behind all these seemingly discrete stories. Read on!

Is anything in crypto not about the FTX unwinding? crypto@axios.com

Today's newsletter is 1,118 words, a 4-minute read.

A family member in Kansas told me he's been trying to buy a Ledger, but the nearest Best Buy told him that they are going super fast. Have any of you tried to buy one recently? —Brady

📞 1 big thing: A phone call with SBF

Photo illustration of Sam Bankman-Fried with downward arrows and abstract shapes.

👨‍👧‍👦 2. Charted: Bitcoin diverging from... bitcoin?

Bankrupt crypto lender wants to return deposits, but it's not that simple

🙏 3. BlockFi moves to return deposits now, your honor 

Illustration of a pixelated coin sticking out of a pixelated wallet.

🚕 4. Catch up quick

🙋‍♂️ 5. The senator has questions (a lot of them)

Sen. Wyden asks questions during a hearing, Feb. 8, 2022.

For a minute it looked like part of this newsletter would not be related to FTX today, but... nope. It all ties back to the big story today, too. 😶‍🌫️

If something out there is interesting all of you besides the big disaster, please let us know: crypto@axios.com.

Today's newsletter is 1,415 words, a 5-minute read.

This newsletter was edited by Pete Gannon and copy edited by Rob Reinalda. 

All the trader types are saying that the big candle on bitcoin and ether price last night wasn't the Brazil news, but it sure seems like the market must have been reacting to something tangible. —C & B

👀 1 big thing: The fate of the SBF bill

CFTC Chair Rostin Benham at a Senate hearing. 

👻 2. Charted: VGX gets a second life

⛸ 3. Catch up quick

🍏 4. Apple stymies NFTs in Coinbase Wallet

Illustration of the Apple logo made out of a repeating hundred dollar bill pattern. 

🍲 5. Culture hash: Plz, ser, I want some more

TGIF! On iPhones, Apple can't afford to let you give things away, plus the new crypto mood in the U.S. Congress.

🏖 Who's betting the crypto scene will just kinda chill this weekend? No doubt! So if you're bored, feel free to email: crypto@axios.com.

Today's newsletter is 1,165 words, a 4-minute read.

🙀 The New Yorker has a nuanced piece on the philosophy driving SBF (and the crisis of faith his fall engendered).—C & B

💼 1 big thing: IRS playing catch-up

😖 2. Charted: Just not looking

👟 3. Catch up quick

🎠 4. Circle will stay private for now

Illustration of several U.S. coins as well as a coin with the Circle logo 

☸️ 5. Culture hash: Wheels within wheels

Hello! More signs of the times today with the inevitable breakup of one of the big crypto SPACs finally being confirmed.

Of note: Crystal is out this week so help Brady keep up: crypto@axios.com.

Today's newsletter is 1,154 words, a 4-minute read.

🐶 Good news for dogecoin may be bad news for everyone else. WOW! —Brady

National

A round of layoffs have begun at GameStop, the company at the center of 2021's meme stock craze, according to a source familiar with the matter and multiple LinkedIn posts from people claiming to be impacted.

Details: One source within the company tells Axios that the team building GameStop's blockchain wallet was heavily impacted.

Subsequently, at least six software engineers have claimed on LinkedIn to have been let go.

Axios has been unable to confirm the approximate scale of the layoff.

GameStop has not replied to multiple requests for comment from Axios. 

What they're saying: A software engineer at GameStop posted on LinkedIn: "Another big round of layoffs from GameStop currently in progress... E-commerce Product and Engineers... Lots of them."

A second GameStop software engineer wrote, "Super sad to say I was apart of the layoffs today at GameStop."

Another posted on Twitter about being let go, but under a pseudonym.

By the numbers: GameStop's stock is trading above $25, more than 500% above its price going into 2021's reddit-powered boom. 

Flashback: GameStop also announced a round of layoffs after sacking its CFO in July.

What we're watching: GameStop's quarterly earnings call is Dec. 7.

GameStop begins layoff

A source within the company tells Axios that the team building GameStop's blockchain wallet was heavily impacted.

Illustration of a video game controller with an absurd number of buttons.   

GameStop

A round of layoffs have begun at GameStop, the company at the center of 2021&#x27;s <a class="gtmContentClick" data-vars-link-text="meme stock craze" data-vars-click-url="https://www.axios.com/2021/12/10/meme-stock-hype-dies-down-gamestop-amc" data-vars-content-id="6f982c8e-086c-468d-8bb2-c791f5a62be0" data-vars-headline="GameStop begins layoff" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2021/12/10/meme-stock-hype-dies-down-gamestop-amc" target="_self">meme stock craze</a>, according to a source familiar with the matter and multiple LinkedIn posts from people claiming to be impacted.Details: One source within the company tells Axios that the team building GameStop&#x27;s <a class="gtmContentClick" data-vars-link-text="blockchain wallet" data-vars-click-url="https://www.retaildive.com/news/gamestop-launches-digital-wallet-for-cryptocurrency-nfts/624401/" data-vars-content-id="6f982c8e-086c-468d-8bb2-c791f5a62be0" data-vars-headline="GameStop begins layoff" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.retaildive.com/news/gamestop-launches-digital-wallet-for-cryptocurrency-nfts/624401/" target="_blank">blockchain wallet</a> was heavily impacted.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

The Department of Justice's U.S. Trustee in the FTX bankruptcy case has moved for the court to appoint an independent examiner.

Why it matters: The examiner would likely produce a large and independent report from a perspective the trustee describes as a "true neutral." This is prudent as a means to unpack "what is likely the fastest big corporate failure in American history," Andrew R. Vara, the U.S. Trustee, wrote in his motion to Delaware's U.S. bankruptcy court.

Quick take: In simple terms, an examiner would be like a P.I. for the court. 

How it works: An examiner works independently on behalf of the court and the public, while John Ray III will continue to act as the CEO, seeking to either preserve what remains of the estate or liquidate it in the interest of all stakeholders.

The examiner's scope of work can be narrow or broad, depending on what the court decides. 

Vara's motion seems to be especially focused on whether or not criminal conduct took place within FTX and related companies owned by Sam Bankman-Fried.

Comparing the case to that of "Lehman, Washington Mutual Bank, and New Century Financial," Vara writes that an examiner should "investigate the substantial and serious allegations of fraud, dishonesty, incompetence, misconduct, and mismanagement."

In the first section under "Basis for Relief," Vara argues that the law effectively requires an examiner to be appointed in a case if the Trustee requests it and at least one condition is met. 

The trustee argues that at least two conditions have been met in its motion.

What they're saying: "Was this an unsuccessful business or a successful fraud? In other words, is there anything to save here?" Vara wrote.

The bottomline: An examiner would produce a report the public could study and evaluate, such as the one produced in the case of Lehman Bros, which fell at the start of the 2008 financial crisis, or a recent report showing that crypto lender Celsius was not segregating customer deposits correctly.

U.S. Trustee moves for independent examiner in FTX bankruptcy

The examiner would likely produce a large and independent report from a perspective the trustee describes as a "true neutral."

FTX attorneys arriving for a hearing in Delaware, Nov. 22, 2022.

James Bromley, attorney for FTX, left, arriving for a hearing in Wilimington, Delaware on Nov. 22, 2022. Photo: Eric Lee/Getty

Cryptocurrencies

Fintech Deals

Pro Rata

Axios Pro Rata

Circle is holding off on going public. The stablecoin maker became yet another company to ditch its SPAC plans, which it planned to do via a vehicle formed by former Barclays CEO Bob Diamond. 

Why it matters: The company will have to weather the crypto market storm solo, as a private entity, for now. 

Of note: Circle founder and CEO Jeremy Allaire told Axios on Monday that the company is generating cash-flow, producing $274 million in Q3 revenue and has around $400 million on its balance sheet: 

"We are committed to becoming a public company, but don't have specific plans at the moment," he said.

Background: The deal with Diamond's Concord Acquisition Corp. had been set to expire later this week, after having previously been extended and recut. In September, Circle announced $400m in new funding.

Regulators have given crypto SPACs a lot of side-eye, however, even costing one several hundred million dollars. Beyond the crypto sector, SPACs of all stripes evaporated starting late last year, after a post-pandemic craze. 

Context: Circle operates the second largest stablecoin in the crypto market, usd coin (USDC). It currently has a $43 billion market cap.

The largest stablecoin is tether, at $65 billion. The first one behind USDC is binance usd (BUSD) at $22 billion. 

Zoom out: Stablecoins are in something of a strange state politically. The U.S. Congressional leadership has indicated that the first piece of legislation it wants to get done on crypto is a stablecoin bill, but it failed to introduce one in 2022. 

The congressional session is about to end and then there will be a new Congress, which could bring a shift in priorities. 

Circle fails to square public plans by scrapping SPAC

CEO tells Axios the company is committed to a public listing

Illustration of a stop sign with SPAC written on it

Fintech

Circle is holding off on going public. The stablecoin maker became yet another company to ditch its SPAC plans, which it planned to do via a vehicle formed by former Barclays CEO Bob Diamond. Why it matters: The company will have to weather the crypto market storm solo, as a private entity, for now.

Coinbase has killed a non-fungible token (NFT) function on its mobile wallet because Apple demanded a cut, even though the cryptocurrency platform wasn't getting a cut either. 

Driving the news: The company nixed a "Send NFT" function in its Coinbase Wallet, because it costs money (ether) to send an NFT. 

Meanwhile, the iPhone maker — which has come under fire for the stiff cut it charges larger app makers — has claimed that "gas" fees required to send NFTs should be paid within the app, according to Coinbase.

Why it matters: Many large firms (and not a few informed users) in Silicon Valley are mad about the 30% Apple takes from any transaction that takes place on a large developer's iOS app. 

Spotify and Epic Games have been fighting it a long time, and Elon Musk has joined that fight now that he's running Twitter.

Even the French are upset with the Cupertino-based giant.

What they're saying: "Apple’s claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30% of the gas fee,"  Coinbase Wallet posted in a Twitter thread. 

Context: Apple controls the most lucrative app marketplace in the world. Coinbase has, at times, been one of its most popular apps.

Zoom in: To send an NFT (to do literally anything on a blockchain) costs the sender a little money. Every time a user takes any action that goes into Ethereum or related blockchains, the user needs to pay the many computers that are going to run that computation.

This is called "gas" but is actually paid in the coin of the blockchain realm  (when it's on Ethereum, gas is paid in ether). 

Still, Coinbase gets none of this when a Wallet user hits "send NFT." It goes entirely to the blockchains' validators. It's just how Ethereum works.

Nevertheless, money is changing hands through one of its apps, so Apple believes it deserves a cut.

Catch up fast: In October, updates to the Apple app store guidelines gave a firm "no" to selling NFTs without cutting Apple in.

Thus far, Apple has not objected to functionality that only concerns using tokens. Digital goods seem to be the key issue.

To some, Apple appears to be trying to protect its lucrative market for digital goods, particularly in games. NFTs are feared to be an end-run around in-app purchase functionality for those goods.

"They are willing to hurt customers and the industry just to enforce that line," a source familiar with the matter told Axios.

Coinbase has appealed Apple's decision, saying that it's not technically feasible to implement in-app purchases for sending NFTs within Coinbase Wallet, given the nature of blockchains. 

But the appeal was denied, and has since been escalated to an appeal of the guidelines themselves.

Flashback: For a long time, Apple has had a hard time wrapping its head around blockchains and NFTs.

Back in 2018, it booted the Coinbase Wallet when it tried to let users look at their NFTs for a video game that was under development at the time.

In 2015, it removed a game that earned bitcoin.

Coinbase itself had a tough time with the iOS store early on.

Quick take: If we had to bet, we'd say that Apple does not even have an Ethereum address to send their cut to, even if Coinbase found a way to pay them part of the gas fees. 

Apple and Coinbase did not immediately reply to Axios' request for comment.  

Coinbase halts NFT wallet function in fight with Apple

Coinbase had to kill a free feature on its mobile wallet because Apple thought it should get paid.

Coinbase has killed a non-fungible token (NFT) function on its mobile wallet because Apple demanded a cut, even though the cryptocurrency platform wasn&#x27;t getting a cut either. Driving the news: The company nixed a &quot;Send NFT&quot; function in its Coinbase Wallet, because it costs money (ether) to send an NFT. <ul><li>Meanwhile, the iPhone maker — which has <a class="gtmContentClick" data-vars-link-text="come under fire for the stiff cut" data-vars-click-url="https://www.reuters.com/technology/spotify-epic-games-get-ally-musk-fight-against-apple-fees-2022-11-29/#:~:text=Apple%20takes%20a%2030%25%20tax,30%25%20tax%20on%20the%20Internet." data-vars-content-id="ea07b732-1b6e-4003-b12c-f2287378bcd0" data-vars-headline="Coinbase halts NFT wallet function in fight with Apple" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.reuters.com/technology/spotify-epic-games-get-ally-musk-fight-against-apple-fees-2022-11-29/#:~:text=Apple%20takes%20a%2030%25%20tax,30%25%20tax%20on%20the%20Internet." target="_blank">come under fire for the stiff cut</a> it charges larger app makers — has claimed that &quot;gas&quot; fees required to send NFTs should be paid within the app, according to Coinbase.</li></ul>Why it matters: Many large firms (and not a few informed users) in Silicon Valley are mad about the 30% Apple takes from any transaction that takes place on a large developer&#x27;s iOS app. <ul><li>Spotify and Epic Games have been fighting it a long time, and Elon Musk has <a class="gtmContentClick" data-vars-link-text="joined that fight" data-vars-click-url="https://www.reuters.com/technology/spotify-epic-games-get-ally-musk-fight-against-apple-fees-2022-11-29/" data-vars-content-id="ea07b732-1b6e-4003-b12c-f2287378bcd0" data-vars-headline="Coinbase halts NFT wallet function in fight with Apple" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.reuters.com/technology/spotify-epic-games-get-ally-musk-fight-against-apple-fees-2022-11-29/" target="_blank">joined that fight</a> now that he&#x27;s running Twitter.</li><li>Even <a class="gtmContentClick" data-vars-link-text="the French" data-vars-click-url="https://techcrunch.com/2022/08/02/french-ios-developers-file-antitrust-suit-over-apples-app-store-fees/" data-vars-content-id="ea07b732-1b6e-4003-b12c-f2287378bcd0" data-vars-headline="Coinbase halts NFT wallet function in fight with Apple" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://techcrunch.com/2022/08/02/french-ios-developers-file-antitrust-suit-over-apples-app-store-fees/" target="_blank">the French</a> are upset with the Cupertino-based giant.</li></ul>What they&#x27;re saying: &quot;Apple’s claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30% of the gas fee,&quot; Coinbase Wallet posted in <a class="gtmContentClick" data-vars-link-text="a Twitter thread" data-vars-click-url="https://twitter.com/CoinbaseWallet/status/1598354819735031809" data-vars-content-id="ea07b732-1b6e-4003-b12c-f2287378bcd0" data-vars-headline="Coinbase halts NFT wallet function in fight with Apple" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://twitter.com/CoinbaseWallet/status/1598354819735031809" target="_blank">a Twitter thread</a>. Context: Apple controls the most lucrative app marketplace in the world. Coinbase has, at times, been one of its <a class="gtmContentClick" data-vars-link-text="most popular apps" data-vars-click-url="https://decrypt.co/84653/coinbase-returns-to-no-1-in-apple-us-app-store" data-vars-content-id="ea07b732-1b6e-4003-b12c-f2287378bcd0" data-vars-headline="Coinbase halts NFT wallet function in fight with Apple" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://decrypt.co/84653/coinbase-returns-to-no-1-in-apple-us-app-store" target="_blank">most popular apps</a>.Zoom in: To send an NFT (to do literally anything on a blockchain) costs the sender a little money. Every time a user takes any action that goes into Ethereum or related blockchains, the user needs to pay the many computers that are going to run that computation.<ul><li>This is called &quot;gas&quot; but is actually paid in the coin of the blockchain realm (when it&#x27;s on Ethereum, gas is paid in ether). </li><li>Still, Coinbase gets none of this when a Wallet user hits &quot;send NFT.&quot; It goes entirely to the blockchains&#x27; validators. It&#x27;s just how Ethereum works.</li><li>Nevertheless, money is changing hands through one of its apps, so Apple believes it deserves a cut.</li></ul>Catch up fast: <a class="gtmContentClick" data-vars-link-text="In October, updates" data-vars-click-url="https://developer.apple.com/news/?id=xk8d7p8c" data-vars-content-id="ea07b732-1b6e-4003-b12c-f2287378bcd0" data-vars-headline="Coinbase halts NFT wallet function in fight with Apple" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://developer.apple.com/news/?id=xk8d7p8c" target="_blank">In October, updates</a> to the Apple app store guidelines gave <a class="gtmContentClick" data-vars-link-text="a firm &quot;no&quot;" data-vars-click-url="https://www.coindesk.com/business/2022/10/24/apple-refuses-to-exempt-nfts-from-app-stores-30-fee/" data-vars-content-id="ea07b732-1b6e-4003-b12c-f2287378bcd0" data-vars-headline="Coinbase halts NFT wallet function in fight with Apple" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.coindesk.com/business/2022/10/24/apple-refuses-to-exempt-nfts-from-app-stores-30-fee/" target="_blank">a firm &quot;no&quot;</a> to selling NFTs without cutting Apple in.Thus far, Apple has not objected to functionality that only concerns using tokens. Digital goods seem to be the key issue.<ul><li>To some, Apple appears to be trying to protect its lucrative market for digital goods, particularly in games. NFTs are feared to be an end-run around in-app purchase functionality for those goods.</li><li>&quot;They are willing to hurt customers and the industry just to enforce that line,&quot; a source familiar with the matter told Axios.</li></ul>Coinbase has appealed Apple&#x27;s decision, saying that it&#x27;s not technically feasible to implement in-app purchases for sending NFTs within Coinbase Wallet, given the nature of blockchains. <ul><li>But the appeal was denied, and has since been escalated to an appeal of the guidelines themselves.</li></ul>Flashback: For a long time, Apple has had a hard time wrapping its head around blockchains and NFTs.<ul><li>Back in 2018, it <a class="gtmContentClick" data-vars-link-text="booted the Coinbase Wallet" data-vars-click-url="https://www.coindesk.com/markets/2018/08/31/apple-abruptly-orders-coinbase-wallet-to-remove-crypto-collectible/" data-vars-content-id="ea07b732-1b6e-4003-b12c-f2287378bcd0" data-vars-headline="Coinbase halts NFT wallet function in fight with Apple" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.coindesk.com/markets/2018/08/31/apple-abruptly-orders-coinbase-wallet-to-remove-crypto-collectible/" target="_blank">booted the Coinbase Wallet</a> when it tried to let users look at their NFTs for a video game that was under development at the time.</li><li>In 2015, it removed a game that <a class="gtmContentClick" data-vars-link-text="earned bitcoin" data-vars-click-url="https://www.coindesk.com/markets/2015/03/18/apple-suspends-bitcoin-game-sarutobi-from-ios-store/" data-vars-content-id="ea07b732-1b6e-4003-b12c-f2287378bcd0" data-vars-headline="Coinbase halts NFT wallet function in fight with Apple" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.coindesk.com/markets/2015/03/18/apple-suspends-bitcoin-game-sarutobi-from-ios-store/" target="_blank">earned bitcoin</a>.</li><li>Coinbase itself had a tough time with the iOS store <a class="gtmContentClick" data-vars-link-text="early on" data-vars-click-url="https://www.coindesk.com/markets/2013/11/15/apple-removes-coinbase-from-app-store-less-than-a-month-after-launch/" data-vars-content-id="ea07b732-1b6e-4003-b12c-f2287378bcd0" data-vars-headline="Coinbase halts NFT wallet function in fight with Apple" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.coindesk.com/markets/2013/11/15/apple-removes-coinbase-from-app-store-less-than-a-month-after-launch/" target="_blank">early on</a>.</li></ul>Quick take: If we had to bet, we&#x27;d say that Apple does not even have an Ethereum address to send their cut to, even if Coinbase found a way to pay them part of the gas fees. Apple and Coinbase did not immediately reply to Axios&#x27; request for comment.

From the Valley to D.C., Big Tech players like Facebook, Google and Amazon are under more scrutiny than ever as new technology develops and privacy and antitrust concerns grow in lockstep with companies’ ambitions.

Technology

Ledger had its two highest demand days ever immediately following the FTX bankruptcy (the Sunday and Monday), and then November became its best month of sales.

Why it matters:  It's a good time to be a crypto hardware wallet maker. One clear lesson for digital-asset owners after FTX crashed is this: third-party crypto storage is risky. And now Ledger is pouncing with a brand new hardware wallet for do-it-yourselfers.

Driving the news: With demand remaining high for its existing Ledger Nano line, France-based Ledger today announced a new entry in its hardware wallet portfolio at its Ledger Op3n event in Paris today.

Ledger Stax, expected to be available in Q1 2023, will feature an e-ink display, making it more interactive than previous wallets.

How it works: Hardware wallets are a secure way to store crypto assets that don't touch the internet unless needed, which helps keep them extremely safe from cybercriminals.

Blockchain assets are controlled with a numeric code, a private key. As long as no one can access this private key, assets stay safe. 

Hardware wallets also allow users to write messages that can make transactions, without ever exposing the private key to malicious actors. 

What they're saying: The new Stax model was envisioned to be "a ‘user-delightful’ tool, to bring digital asset security to the rest of us, not just the geeks,” Tony Fadell, who designed the new device in collaboration with Layer, said in a statement.

Fadell was the vice-president of Apple's iPod division and founder of Nest, the home hardware company later acquired by Google.

Features: The new device will be able to continuously display its assets using e-ink technology, only sipping power to shift the display.

It has a mobile app so users can check their assets any time, using Bluetooth to connect the wallet to the phone. It connects to computers with USB-C. 

It can manage more than 500 crypto assets as well as NFTs. 

State of play: Demand for existing Ledgers hasn't stopped. Since getting stocked at Best Buy in September, they've frequently been unavailable since the recent downturn hit, according to the company.

In the weeds: E-ink is basically small particles that can be made to flip between different colors. Unlike a traditional backlit computer screen, once they flip, it takes no power to stay as they are, so it really is just like ink.

The classic Amazon Kindle and its competitor, the Kobo, are two of the most widely deployed applications of e-ink for consumers.

Ledger demand booms as it announces new crypto hardware wallet

With millions stuck on FTX, consumers are starting to realize they should use a hardware wallet, and Ledger has a new one coming.

The Ledger Stax, with a computer screen behind it.

The forthcoming Ledger Stax. Photo: Ledger

Ledger had its two highest demand days ever immediately following the FTX bankruptcy (the Sunday and Monday), and then November became its best month of sales.Why it matters: It&#x27;s a good time to be a crypto hardware wallet maker. One clear lesson for digital-asset owners after FTX crashed is this: third-party crypto storage is risky. And now Ledger is pouncing with a brand new hardware wallet for do-it-yourselfers.

Brady Dale

Stories

Ledger demand booms as it announces new crypto hardware wallet

GameStop begins layoff

Circle fails to square public plans by scrapping SPAC

U.S. Trustee moves for independent examiner in FTX bankruptcy

Coinbase halts NFT wallet function in fight with Apple

Newsletter editions

So long!

It didn't take a crystal ball 🔮

iOS 🙅‍♀️ NFTs

Celsius has some money

💸 SBF has $100,000