Balaji’s latest prediction: US gov’t will remotely seize crypto
Former Coinbase CTO Balaji Srinivasan predicts that the US government will confiscate private keys from millions of crypto wallets via iPhones and Android devices, claiming that the companies possess remote access to private key shards via firmware ‘backdoors’ and cloud storage. Srinivasan gained credibility for his early warnings about COVID-19. Admittedly, he lost some of that credibility after losing his bet that bitcoin would hit $1 million and this latest prediction is even more difficult to believe: an extralegal confiscation of private property “to remit stolen funds to a cash-hungry federal government.” The would-be Nostradamus calls these tech giants a “systemic risk” to the crypto industry. Balaji prediction comes amid fears of Ledger Recovery His prediction piggybacks on heightened fears of Ledger’s remote access to private key shards . The hardware manufacturing giant released a firmware upgrade for all hardware wallets (except the Nano S) that w...