Altcoin News Today TheBitTimes.com

As accusations are hurled at Ledger over a controversial update, one hardware wallet has decided to open-source its firmware. Others have turned it into a marketing opportunity. Amid fallout over Ledger’s controversial decision to allow private keys to be “recovered” from its devices, cold storage competitor GridPlus has announced that it will move to “open source” the firmware of its crypto wallets.  GridPlus took to Twitter on May 17 to inform its 17,500 followers that it will open source the firmware of all its crypto devices in the third quarter of this year in what it claims is in a bid for greater transparency. The most trusted name in cryptography, relied upon by the world's governments for their highest security applications for decades, sold products backdoored by the CIA. How can we ensure this won't happen again? Open- source software. GridPlus will open- source its firmware in Q3. pic.twitter.com/889OnqXd20 — GridPlus (@gridplus) May 18, 2023 “This week'...

Trezor plans to build its hardware wallet chips, but other crypto companies still prefer third-party imports due to technical and financial barriers. Crypto wallet maker Trezor recently decided to start manufacturing its own hardware wallet chips to respond quickly to demand-triggering events like the FTX collapse. Trezor announced on Feb. 27 that it would begin producing the chip wrapper, a crucial component for the Trezor Model T — its flagship device. The move will reportedly cut the supply cycle lead times from two years to a few months in the production of Trezor wallets. According to Trezor, the decision will also address shipment delays of finished products and shield customers from price swings caused by component supply and demand changes. After the FTX crash in November 2022, investors rushed to move their crypto holdings off of centralized crypto exchanges, which caused the demand for Trezor wallets to increase by over 300%. Štěpán Uherík, chief financial officer at Trezo...