Big Step into Crypto from Fadell After FTX

Fadell spent nearly a decade at Apple under Steve Jobs, overseeing the design of the portable music player and later helping to create the iPhone, the company's best-known device.

Fadell closed the deal in 2008 and founded Nest Labs to introduce smart home devices to users.

Google bought Nest Blas, founded by Fadell, for $3.2 billion.

Fadell also participated in the rapidly developing crypto industry recently and achieved the goal of designing an offline cryptocurrency wallet, they sat at the same table with Ledger for this purpose.

Crypto trading requires the use of complex cryptographic keys used to authorize transactions. These keys are usually stored online. On an online exchange, for example, this can make them more susceptible to hacking and theft.

The recent crash of FTX, which lost more than $1 billion in customers, led to an unexpected increase in demand for offline and "self-storage" features like the Ledger.

Previous models like Ledger's newly released Nano S and Nano S were shaped like a USB stick, while the Fadell new design Ledger Stax's appearance resembles a curved spine and an electronic ink display, it's a credit card shaped device.

"All secure hardware up to this point was like any MP3 player before the iPod, and it was time for an iPod," Rogers, Ledger's executive, told Reuters.

Fadel has said before that she has doubts about some elements of "Web 3.0," an all-encompassing term that encompasses decentralized technology.

Ledger Stax has been announced to be available online for $279 starting in early 2023.

Stay tuned for more news.