Wallets: May headlines

- Ledger Crypto Wallet Under Fire Over Seed Phrase Recovery Service - in a nutshell, it’s an ID-based key recovery service that backs up users’ seed phrases. To use the service, users must provide a passport or national identity card to confirm their identity. While this service requires users to opt-in and pay a $9.99 monthly fee, some are concerned that this could even pose a security risk for those who don't opt in (source).
- PayPal Ventures Leads $52M Round for Crypto Firm Magic - the startup offers non-custodial wallet infrastructure for an enterprise client list that includes Macy’s and Mattel (source)
- Decentralized Wallet Developer Odsy Network Raises $7.5M at $250M Valuation - the funding round was led by Blockchange Ventures and included participation from Rubik Ventures, Node Capital and FalconX among others (source)
- Openfort Raises $3 Million for 'Frictionless' Web3 Gaming Wallet - Openfort is building infrastructure for game developers and aims to reduce the number of times gamers have to engage with the blockchain (source)
- Crypto Storage Firm Qredo's Revamped Self-Custody Wallet Goes Live - The New Qredo remains aimed at the institutional crypto market, but now it's low-cost and open to anyone, says COO Josh Goodbody (source)

#trends #wallet #May2023