According to CoinMeta, Bloomberg analyst Eric Balchunas stated that the parent company of Coldcard, Coinkite, has only about 5 employees, which is considered too small for a hardware wallet manufacturer responsible for safeguarding the assets of a large number of users. He mentioned that if a Canadian company with only 5 employees were in charge of protecting an individual's entire savings, traditional financial users might see that as a risk signal. He also noted that, in comparison, larger institutions such as Coinbase and Ledger, as well as the regulated custody systems behind Bitcoin spot trading ETF, have a greater advantage in terms of security, although some of these solutions may involve higher fees.