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Crypto

Coinbase CEO says bitcoin not under immediate quantum threat but preparations should speed up

Bitcoin is not facing an immediate threat from quantum computers, but the industry should start preparing now, Coinbase CEO Brian Armstrong said. He unveiled the launch of the Bitcoin Security Consortium, which includes Coinbase, BlackRock, Fidelity Digital Assets, Block, Blockstream and Strategy. Coinbase is developing a quantum-resistant key management system and plans joint sessions from August with Bitcoin Core developers, cryptographers and researchers to discuss migration strategies.

Crypto

Strategy says it can cover interest and dividends even if bitcoin falls for six straight years

Strategy said it can meet its financial obligations under its current capital structure even if bitcoin prices fall for an extended period. It said an internal scenario showed it could fully pay interest costs and preferred share dividends even if bitcoin declines 11.4 percent annually for 5.8 years. The company is also reshaping its financing structure, revamping metrics and joining the Bitcoin Security Consortium backed by $15 million in pledged funding.

Crypto

Strategy-led consortium to fund $15 million for Bitcoin quantum security

A consortium led by Strategy and joined by firms including BlackRock will provide a total of $15 million over the next three years to respond to quantum computing threats facing the Bitcoin network. Strategy announced the launch of the Bitcoin Security Consortium to support long-term quantum security for Bitcoin. The group, made up of financial institutions and Bitcoin-related companies, will use the funding to support developers working to protect the network.