Coldcard Fallout, Self-Custody Risks & the Yen Intervention Explained

A reported vulnerability affecting Coldcard-generated seed phrases has raised new concerns about Bitcoin self-custody after more than 1,000 addresses were reportedly drained in coordinated attack waves.

Today’s The Weekly, David Sencil and Graham Stone break down what allegedly went wrong, why the response has been heavily criticized, and what the incident could mean for hardware wallets, self-custody, and the broader Bitcoin ecosystem.

The conversation then shifts to a major development in global finance: coordinated intervention by Japan and the United States to support the yen after the currency fell to multi-decade lows. They explore what it signals for global markets, currency devaluation, and why many investors are increasingly turning to hard assets such as Bitcoin, gold, and equities.

Topics include:

• The Coldcard seed phrase controversy
• How the reported vulnerability worked
• Risks to Bitcoin self-custody
• The future of hardware wallets
• Japan and U.S. intervention to support the yen
• Currency devaluation and market volatility
• Why investors are moving beyond cash
• Bitcoin's role in an uncertain global economy

Whether you're interested in Bitcoin security, self-custody, or the macroeconomic forces shaping financial markets, this episode provides the context behind two of the week's biggest stories.

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