As a blockchain analyst with a Northwestern finance background, I’ve watched Ledger’s decision to phase out the Nano S with cold precision. The move isn’t just obsolescence—it’s a strategic realignment that fractures user trust. With 4M+ devices in circulation and $500M+ in lifetime value at stake, Ledger’s vague ‘no further support’ messaging has ignited panic. This isn’t a product update. It’s an ecosystem shift—and the consequences will linger long after the last patch.