Coinbase Forms Quantum Advisory Board, CEO Sees No Blockchain Encryption Risk
Coinbase CEO Brian Armstrong said quantum computing poses no imminent threat to blockchain and highlighted the company's advisory board to research and prepare post-quantum cryptography solutions across major networks. Meanwhile, the global cryptocurrency market cap reached $2.41 trillion, intensifying IRS tax enforcement focus on gains.
1. CEO Downplays Quantum Computing Risk
Brian Armstrong stated that quantum computing is a "very solvable" issue and poses no immediate threat to blockchain encryption. He noted Coinbase is in regular contact with major protocol teams to plan upgrades to post-quantum cryptography.
2. Advisory Board to Address Post-Quantum Threats
Last month, Coinbase established an advisory board tasked with assessing quantum computing developments, publishing research on cryptographic vulnerabilities, issuing upgrade recommendations, and responding to emerging threats in real time.
3. Crypto Market Tax Scrutiny Rises
The global cryptocurrency market cap surged to $2.41 trillion, prompting the IRS to intensify its focus on crypto gains. This backdrop has led to new tax guidance aimed at helping traders avoid audits.