The Ugly Tradeoffs of Ledger’s New Recovery Service - Ep. 494

This podcast episode examines Ledger's controversial service, Ledger Recover, which permits recovery of funds even with device loss. Concerns about security and transparency emerge due to potential seed phrase compromise and the closed-source nature of the recovery process. The use of fake IDs to bypass verification and Ledger's past data breach raise privacy and security concerns. The discussion weighs the risks and benefits of trusting centralized custodians with crypto assets and addresses news stories on FTX, Terraform, Tether, Coinbase, and regulatory developments in the European Union.