FinanceBlackRock, Coinbase, and Others Commit $15 Million to Enhance Bitcoin Security Against Quantum Threats
The consortium will not influence Bitcoin governance or protocol decisions, as members will manage their own funding allocations.
By Francisco Rodrigues|Edited by Stephen Alpher Jul 23, 2026, 12:54 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on
Code on a screen (Chris Ried/Unsplash)Summary- Nine firms have collectively pledged $15 million over three years for Bitcoin security research and open-source development.
- Members will independently manage their funding, and the consortium will not engage in Bitcoin governance or protocol decisions.
- The initiative will support research on post-quantum security as developers seek to enhance defenses against potential quantum computing advancements.
A consortium of nine companies has committed to raising $15 million over three years to bolster Bitcoin BTC$65,171.29 security research and promote open-source development.
The newly established Bitcoin Security Consortium comprises significant players from the cryptocurrency market including BlackRock, Coinbase, Strategy, Anchorage Digital, ARK Invest, Block, Blockstream, Fidelity Digital Assets, and Galaxy.
This group aims to address the potential impact of quantum computing on Bitcoin and will release updates on the status of Bitcoin security initiatives for both investors and the general public.
The $15 million fund will not be managed by the consortium itself; rather, each member will decide how to allocate their funding to developers, researchers, or organizations. The consortium will refrain from influencing Bitcoin development or taking stances on proposed protocol changes.
Robert Mitchnick, head of digital assets at BlackRock, stated, “Bitcoin Core developers do incredibly important work,” and emphasized the group’s intention to provide extra funding for the long-term security of Bitcoin.
The announcement did not specify how much each member is contributing, or identify initial recipients or whether any of this funding represents new financial commitments.
This week, Galaxy also announced a separate $5 million initiative aimed at developing quantum-resistant signatures, wallet migration tools, and conducting security audits. It remains unclear if this initiative is part of the overall $15 million commitment.
Currently, there are no quantum computers capable of undermining Bitcoin’s cryptography; however, developers have begun exploring potential protective measures, as it could take years to reach consensus and implement changes across wallets, exchanges, miners, and users.
Some proposals under consideration include BIP 360, which would introduce a new output type to minimize the exposure of public keys. Other discussions involve post-quantum signature methods and strategies for coins stored in older, vulnerable addresses.
Approximately 6.9 million bitcoins could be at risk if sufficiently powerful quantum computers become a reality, according to CryptoQuant research. Any response would necessitate technical alterations and collaboration across Bitcoin’s decentralized network.
Mike Schmidt, the executive director of the nonprofit Brink, which funds Bitcoin developers, will oversee the consortium’s activities on a volunteer basis.
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Crypto Flows, Share and the Selective Rotation
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Markets have shifted since June, with Binance maintaining its share (~55% user funds, ~24% spot) and attracting net inflows in early July, while the overall market experienced outflows.
By CoinDesk Research22 hours agoMarkets have shifted since June, with Binance maintaining its share (~55% user funds, ~24% spot) and attracting net inflows in early July, while the overall market experienced outflows.
Why it matters:
Markets have shifted since June, with Binance maintaining its share (~55% user funds, ~24% spot) and attracting net inflows in early July, while the overall market experienced outflows.
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