The Coldcard exploit is a painful week for many in our community, and I’m sorry for those who lost Bitcoin they believed was secure. It is also a reminder that custody is one of the hardest problems in this industry. Self-custody asks individuals to carry every operational risk themselves: hardware defects, key loss, inheritance, recovery. Even careful people doing everything right can be exposed by a flaw they had no way to see. This is why Metaplanet holds its Bitcoin with regulated, institutional-grade custodians under segregated cold storage, multi-party controls, and independent oversight. Managing a corporate treasury requires a control environment no single device can provide. Nothing about this exploit was a failure of Bitcoin. The protocol was not compromised; a device was. The lesson is not to doubt the asset. It is to be honest about how demanding it is to secure, and to choose the custody model that fits the responsibility you carry.