Odaily Planet Daily reports that Joe Burnett, Vice President of Strive, stated in an article on the X platform that the recent weeks have likely been among the worst in Bitcoin history. Many people purchased accredited hardware wallets, generated mnemonic phrases offline, and followed established best practices, yet still lost significant amounts of Bitcoin due to a vulnerability affecting COLDCARDwallet's mnemonic phrase generation since March 2021. This vulnerability remained undetected for over five years. Burnett stated that this will permanently change people's confidence in self-custody. Self-custody will still exist, but it will be permanently altered. For those wishing to directly control large amounts of Bitcoin, the standard should be multi-vendor multi-signature, with keys generated independently using different hardware and software, and stored in different physical locations. If this approach is unacceptable, institutional custodians should be used. Burnett noted that the current wave of Bitcoin adoption is occurring through ETFs, treasury companies, and institutional custodians, primarily driven by individuals unwilling to become experts in private key generation, hardware security, firmware, backup, inheritance planning, and physical storage. Protecting large amounts of Bitcoin with a single key generated by a single hardware wallet poses a high risk of concentration. Joe Burnett also stated that institutional custody could ultimately concentrate too much Bitcoin in the hands of large companies, creating risks of censorship, seizure, and confiscation. However, Bitcoin's portability and settlement properties provide a crucial check; users can create wallets and request custodians to send Bitcoin, transforming from counterparty risk to direct ownership within minutes. Burnett believes that as long as Bitcoin itself remains secure, the failure of any particular custody method will not negate the underlying monetary system, but rather force the market to develop better tools, stronger standards, and more resilient custody architectures. This week may ultimately mark the end of an era for Bitcoin custody and the beginning of the next wave of Bitcoin adoption.

According to Lookonchain monitoring, an address (0x9a96...ec05) opened a long position of 16.73 million FARTCOIN tokens (2x more), worth $2.16 million, and placed a limit order to buy 18.04 million FARTCOIN tokens, worth $531,000.

According to Bitcoin News, River received 3,679 BTC on Friday as users moved funds out of ColdCards in search of safer storage solutions, a figure exceeding that of other exchanges.