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Ledger finally ships Stax hardware wallet

Ledger has begun shipping its new Ledger Stax hardware wallet to customers who pre-ordered it over a year ago, following a significant delay since its original release date.

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Ledger has begun shipping its new Ledger Stax hardware wallet to customers who pre-ordered it over a year ago, following a significant delay since its original release date.

On Dec. 6, 2022, at its Web3 developer event, Ledger Op3n, Ledger revealed that it had partnered with Tony Fadell, the creator of the iPod, to develop a new hardware wallet named Ledger Stax.

However, the product was not delivered as promised. Stax was originally scheduled for release in March 2023, but reportedly encountered delays due to manufacturing issues. On Reddit, some community members complained about their purchases and expressed doubts about the delivery.

Fourteen months after the original release date, Ledger announced in a press release that it had now finally started shipping to customers who placed pre-orders.

Ian Rogers, the Chief Experience Officer at Ledger stated that although the journey took some time, they have successfully realized their vision for Stax,which was unveiled nearly two years ago. 

When asked about Fadell’s role in the project, Rogers said that the iPod creator designed Stax. The executive believes that it would not be as beautiful if Ledger had built the device independently. However, Rogers also said it would not have been as secure if Fadell had built the device alone.

Rogers said that Fadell’s contribution is bringing the experience and appeal of the hardware wallet to “a whole new class of users.” The executive believes this was key to connecting the firm with new partners as it attempts to build a secure supply chain.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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