In order to move funds with the wallet, the user must have their phone and be logged into the app with their hardware wallet in hand. Without the two, Guise said, “Block can’t move their money for them.” The third key, which is held by Block in its “cloud recovery services,” is available for users who lose their phone or wallet, he said.
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Block Manager Sees Self-Custody as Future of Crypto Post-FTX
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