Also something else I glossed over before - they are providing $50,000 in insurance for your holdings. They must, therefore, be monitoring all the balances on all your addresses in real time and linking all that information to your KYC and seed phrase back ups to ensure that they don't get scammed by someone claiming to have lost $50,000 when they were only holding $10.

I've skim listened to this on 2x speed, but I can't find anywhere that they actually address that there now exists the ability for Ledger wallets to export seed phrases and private keys. Someone please correct me if I'm wrong. They answer questions like politicians. Direct quote from Nicolas Barra (BTChip, Ledger VP): "I'm not sure what's not to like."

Absolutely unbelievable. This forum, Reddit, Twitter, literally everywhere pointing out the massive issues with this, and the VP responds by sticking his head in the sand and saying "Everything is great!"