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Ledger Unveils ‘Recovery Key’ — A Tap-to-Recover Hardware Option for Crypto Wallets
As crypto adoption soars, Ledger introduces a new physical key to simplify wallet recovery while keeping self-custody secure.
Ledger has introduced Recovery Key, a new physical “spare key” designed to help users recover access to their crypto wallets with just a tap and PIN entry — no intermediary required.
◾ The feature is specifically compatible with Ledger Flex and Ledger Stax, the company’s e-ink touchscreen wallet products.
◾ Recovery Key works via secure NFC wireless communication, leveraging the same hardware-grade security that powers Ledger’s main devices.
◾ Users can now pair Recovery Key with their existing 24-word seed phrases or opt to use Ledger Recover, the company’s encrypted key-splitting recovery service. All are optional.
A Modern Approach to Backup and Recovery
As crypto’s market cap grew by nearly $1 trillion over the past year, Ledger says the demand for secure, practical recovery tools is more urgent than ever.
◾ Users can generate an always-offline backup key, secured with its own PIN and stored on tamper-resistant hardware.
◾ There is no limit to the number of Recovery Keys users can create — each requires device-side confirmation.
◾ “Too many people are compromising by keeping their assets on exchanges and insecure software wallets,” said Ian Rogers, Ledger’s Chief Experience Officer.
“With Ledger Recovery Key we are making secure self-custody easy-to-use for everyone.”
Built for Transparency and Trust
Ledger emphasized that transparency and auditability are foundational to the new feature’s rollout.
◾ The Recovery Key’s code and whitepaper are publicly available for community review.
◾ It has passed multiple rounds of internal security testing, including scrutiny by Ledger’s in-house white-hat team, the Donjon.
◾ Third-party external security audits were also conducted, and Ledger reports “extremely positive feedback” from experts.
“We’re excited to reveal it to the world for even more feedback ahead of its launch,” said Ledger CTO Charles Guillemet.
Complementary Options: Recovery Key, Ledger Recover, or 24-Word Phrase
Ledger is expanding its self-custody toolkit by offering layered options that address the needs of different users without compromising on control.
◾ The new Recovery Key joins Ledger Recover, a paid service launched in 2023 that splits, encrypts, and stores seed phrases across multiple jurisdictions.
◾ Recovery Key is standalone and optional, and users may use one, both, or neither, depending on their security preferences.
◾ Despite community concerns about personal data and custodial risk, Ledger maintains that its multi-path recovery strategy offers flexibility and safety.
Ledger Surpasses 7.5 Million Devices Sold
The launch follows successful adoption of Ledger Stax and Ledger Flex, which helped drive total device sales past the 7.5 million mark. The Paris-based firm says its expanding ecosystem reflects growing global interest in secure self-custody tools.
@ Newshounds News™
Source: The Block
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Democrats Push COIN Act to Regulate Trump’s Crypto Influence
Senator Adam Schiff targets Donald Trump’s growing ties to crypto with a bill designed to curb political profiteering in digital assets.
Former President Donald Trump’s private dinner for memecoin holders has ignited a political backlash, triggering new legislation aimed at restricting crypto activity by political leaders. Democratic Senator Adam Schiff has introduced the COIN Act — Curbing Officials’ Income and Nondisclosure — to close what he calls an emerging loophole between digital finance and political power.
▪️ The COIN Act would bar current and former top U.S. officials from creating, promoting, or investing in cryptocurrencies, NFTs, or stablecoins during and for two years after their terms.
▪️ Schiff directly targets Trump’s alleged $57 million gains from the family-linked crypto platform World Liberty Financial (WLF).
▪️ The bill follows a Trump-hosted dinner that rewarded top holders of his personal memecoin.
Crypto Influence: A New Political Battleground
Senator Schiff warns that Trump’s crypto engagements mark a dangerous fusion of personal enrichment and institutional authority.
▪️ Schiff claims Trump is using crypto as “a lever for private financial gain” through World Liberty Financial, in which the Trump family held a majority stake before reducing it to 40%.
▪️ A controversial turning point: WLF’s launch of the USD1 stablecoin, later cited in a $2 billion Abu Dhabi investment announcement involving Binance.
▪️ Trump’s estimated $3 billion in digital assets — nearly 40% of his total net worth — raises red flags for Democrats who view this as financial soft power cloaked in populism.
“This is not just a tech issue — it’s a political integrity crisis,” Schiff said, framing the bill as a moral firewall between officeholders and DeFi ventures.
Democratic Counteroffensive: TRUMP in Crypto Act
Schiff is not alone in his push to draw a regulatory line. In the House of Representatives:
▪️ Maxine Waters has proposed the provocatively named TRUMP in Crypto Act, designed to explicitly ban political use of memecoins.
▪️ The bill’s timing? It dropped the same day Trump hosted his memecoin backers — a deliberate statement, not a coincidence.
Congressional Reality and Electoral Optics
Despite the bold proposals, both bills face major hurdles:
▪️ Democrats remain in the minority in Congress.
▪️ A presidential veto remains highly likely if either bill reaches Biden’s desk.
▪️ A two-thirds majority needed to override such a veto seems mathematically unreachable.
Still, Schiff and Waters are playing a longer game: influencing public opinion and reframing crypto as a 2024 campaign battleground.
Crypto: Campaign Currency or Conflict of Interest?
Trump’s crypto strategy, once seen as novel, now appears as a calculated expansion of influence and fundraising reach. Schiff sees crypto as:
▪️ A soft power tool used by political elites to reward loyalty.
▪️ A bypass around traditional financial disclosure norms.
▪️ A growing threat to transparency in both governance and elections.
“Crypto is no longer just code — it’s campaign capital, it’s a narrative weapon, it’s contested political territory.”
Conclusion: The Future of Political Crypto Regulation
The COIN Act and its House counterpart may struggle legislatively, but their symbolic value is growing. These proposals:
▪️ Reframe blockchain technology as a governance issue, not just a financial tool.
▪️ Signal that crypto oversight may soon become a partisan wedge issue.
▪️ Reflect the shifting reality: the blockchain is now electoral infrastructure.
@ Newshounds News™
Source: CoinTribune
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