The market this morning

Ledger pulls wallets from shelves in Southeast Asia and Hong Kong as Trezor trims resellers

By Crypto Info News

Good morning. Ledger asked resellers to remove its devices from shelves in Southeast Asia and Hong Kong while investigators work to establish where tampering occurred, Cointelegraph reported. Decrypt reported that Ledger confirmed wallets sold by a Southeast Asian retailer carried a hidden implant that sent out users' recovery phrases.

Trezor moved the same day. Cointelegraph reported that CCO Danny Sanders said he had notified certain hardware wallet resellers they would be removed from Trezor's list of authorized entities starting Jan. 1, a step the outlet described in its headline as "preventative." Decrypt reported the authorizations end on January 1, 2027.

Bitcoin closed at $83,115.10, up 1.61% over 24 hours. Decrypt reported that bitcoin had dipped below $81,000 before buyers stepped in, and that the Fear and Greed Index suggested traders were not yet convinced. Ether closed at $2,496.59, up 2.07%, and XRP at $1.365130573368643, up 1.80%.

Corporate bitcoin buying continued. Decrypt reported that Strive bought $280 million in bitcoin at an average of about $84,500, lifting its stash to 32,773 BTC. Cointelegraph reported Strive is now the fifth-largest publicly traded corporate bitcoin holder, with $208 million in warrant exercises and holdings up 11%. CoinDesk reported Strive is raising $500 million through a new preferred share class, SATS, offering a fixed 15% dividend at par and junior to its existing SATA, which currently pays 13%.

In infrastructure, Decrypt reported Binance will shut Binance Pool and related mining services after six years. On tokenization, CoinDesk reported BNY and Citadel Securities tested tokenized U.S. Treasuries; Cointelegraph reported tokenized equities have reached nearly $3.3 billion, with most Solana and BNB Chain trading outside U.S. market hours; and The Block reported Ripple and Stripe-owned Privy will bring embedded wallets to the XRP Ledger.

On regulation, Cointelegraph reported that a change to the SEC's quorum rules could ease crypto rulemaking, and Chainalysis said its Reactor tool again withstood Daubert scrutiny on appeal. Separately, Decrypt reported a wallet that received 4,581 BTC in March 2020 moved its holdings, worth about $377 million.

What to watch: where investigators trace the wallet tampering, Strive's $500 million raise, and Binance's mining wind-down.