The Coldcard fiasco will likely be cited in every BTC ETF pitch

The victims could've followed all the general rules in self custody (generating a fresh address, keeping seed phrase secure, buying hardware wallets only from reputable sources), and yet they were still exploited. Not your keys, not your coins, unless your keys were never random.

Even long time Bitcoiners have been expressing anxiety. I bet most of you checked your balance after hearing the news, even if you've done everything right. This type of paranoia is an issue and institutionalized bitcoin products are a seemingly good solution to that.

Do you know how many people regularly visit a physical bank because they don't know how to use an app and refuse to learn? Now imagine telling them to self custody.

I am hoping that this hack will make people look more closely at the wallet software code... especially if it's open source. I'm honestly confused as I thought open source software was supposed to be more resilient bc of its transparency.

I don't own Coldcard so I'm not too worried about my stash, but I'd be lying if I said this situation hasn't affected my perspective on the current Bitcoin space.