117: Coldcard Fallout

We unpack the widening Coldcard fallout, the uncomfortable lessons Bitcoiners need to face, and a major macro intervention that reveals just how trapped the financial system has become.

Episode Links

• 🎉 Boost from the Web
• 🇺🇸 Buy Sats on River - The best way to stack in the US
• 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform
• 💳 The Bitcoin Company - Spending your Bitcoin Via Lightning
• 🏦 Fold Card - Pay bills Stack Sats
• 💵 SALT Lending - Get access to your BTC Value w/out Selling
• ⚡ Strike - Ultra-low fees, high trading limits, and easy loans.

Show Notes

• COLDCARD Mk3 Seed Generation Warning
• COLDCARD Entropy Issue: Technical Background
• Predictable RNG Fallback in COLDCARD Firmware
• COLDCARD Entropy and Nonce Analysis
• COLDCARD TRNG Recovery Fix
• When random.bytes() Runs but Doesn’t Work
• COLDCARD’s Random Numbers Weren’t
• Everything to Know About the COLDCARD Hack
• How COLDCARD Wallets Lost $70 Million
• COLDCARD Exploit Shakes Faith in Self-Custody
• COLDCARD Wallet Attack Drains Up to $89 Million
• COLDCARD Flaw Linked to $70 Million Theft
• COLDCARD Attacker Stole $30 Million in 10 Minutes
• COLDCARD Firmware Bug Drained $38 Million
• COLDCARD Firmware Bug Bypassed RNG for Five Years
• Hackers Target Bitcoin’s Safest Hiding Place
• COLDCARD Attack Pushes Bitcoin Toward Exchanges
• $38 Million Swept Through Weak Seed Entropy
• More Details on COLDCARD Bricking
• COLDCARD Incident Victim Intake
• How Blockstream Jade Generates Recovery Phrases
• BlockSlop: BIP-110 Chainstate Validation Gap
• Bitcoin Developer Revives PoW-Change Code for BIP-110
• BIP-110 and Who Decides Bitcoin’s Future
• BIP-110 Falls Flat With Zero Miner Support
• Did IBM’s Quantum Timeline Spook Jim Cramer?
• Jim Cramer Rethinks Bitcoin Over Quantum Risk
• Lummis Says CLARITY Act Delay Could Kill the Bill
• Lummis Presses CLARITY Act Holdouts
• Warren’s Opening Remarks on the CLARITY Act
• Warren Warns About Crypto Money Laundering
• Fed Holds Rates Steady as Warsh Fights Inflation
• Warsh’s Quieter Fed Communication Strategy
• A Quieter Fed Could Mean More Volatile Markets
• Warsh Says the Fed Has No Tolerance for Inflation
• Warsh Reiterates the Fed’s Inflation Pledge
• June 2026 FOMC Statement
• U.S. Treasury Signals Possible Yen Intervention
• Why the U.S. Stepped In to Support the Yen
• Why Trump Is Propping Up Japan’s Currency
• Bessent Says the Japanese Yen Looks Undervalued
• Delayed BOJ Hike Adds Pressure on the Yen
• Lessons From the Plaza Accord
• The Real Lessons From the Plaza and Louvre Accords

Music:

• Empty Passenger Seat by Joe Martin