Crypto Giants Unite to Protect Bitcoin from Quantum Threat

Nine of the biggest names in crypto have formed the Bitcoin Security Consortium to defend against quantum computing threats.

The consortium, which includes BlackRock, Coinbase, and Fidelity Digital Assets among others, has committed $15 million over three years for security research and open-source development.

This is not a shared war chest, but rather each member will direct its own share independently to fund developers, researchers, or organizations of their choice.

The money will go towards quantum-resistant signatures, wallet migration tools, and security audits, as well as addressing the 'harvest now, decrypt later' threat where public keys can be copied and archived before being cracked by a future quantum computer.