Nobody wants to hold their own Bitcoin anymore.

• Ledger hardware wallet hack leads to $86M+ in crypto stolen, with the speaker calling self-custody an 'absolute freaking disaster' and an 'existential crisis'.
• MicroStrategy (MSTR) purchased 250 Bitcoin for $21.5M and repurchased $192M of preferred stock, continuing its Bitcoin accumulation strategy.
• Evernorth's XRP Treasury Merger brings 473M XRP to Nasdaq as XPRN debuts, marking a new institutional wrapper for the asset.
• Bitcoin ETFs saw significant outflows of $679M over the week, with the speaker noting these flows are reactive to price rather than predictive.
• Wall Street's move towards tokenization is discussed as a major shift, but the speaker raises concerns about whether retail investors will benefit or if value will be captured by institutions.

The video highlights a major Ledger hardware wallet hack resulting in over $86 million in stolen crypto, casting a shadow over self-custody. It also covers MicroStrategy's ongoing Bitcoin accumulation, the debut of an XRP-backed treasury on Nasdaq, and recent Bitcoin ETF flows. The speaker expresses strong skepticism about the security of self-custody and questions who truly benefits from institutional crypto adoption and tokenization.