Cryptocurrencies

Quantum computing threatens Bitcoin: Experts debate timeline

Recent breakthroughs in quantum computing have revived fears about the long-term security of Bitcoin (BTC).

With IBM aiming to release the first fault-tolerant quantum computer, the IBM Quantum Starling, by 2029, experts are increasingly concerned that such advancements could undermine Bitcoin’s cryptographic backbone.

Bitcoin currently relies on elliptic curve cryptography (ECC) and the SHA-256 hashing algorithm to secure wallets and transactions. However, both are potentially vulnerable to Shor’s algorithm, which a sufficiently powerful quantum computer could exploit.

Google quantum researcher Craig Gidney warned in May 2025 that quantum resources required to break RSA encryption had been significantly overestimated. Although Bitcoin uses ECC, not RSA, Gidney’s research hinted at a threat window between 2030 and 2035 for crypto systems.

Opinions on the timeline vary. Adam Back, Blockstream CEO and early Bitcoin advocate, believes a quantum threat is still at least two decades away. However, he admitted that future progress could force users to migrate coins to quantum-safe wallets—potentially even Satoshi Nakamoto’s dormant holdings.

Others are more alarmed. David Carvalho, CEO of Naoris Protocol, claimed in a June 2025 op-ed that Bitcoin could be cracked within five years, pointing to emerging technologies like Microsoft’s Majorana chip. He estimated that nearly 30% of BTC is stored in quantum-vulnerable addresses.

‘Just one breach could destroy trust in the entire ecosystem,’ Carvalho warned, noting that BlackRock has already acknowledged the quantum risk in its Bitcoin ETF filings.

Echoing this urgency, billionaire investor Chamath Palihapitiya said in late 2024 that SHA-256 could be broken within two to five years if companies scale quantum chips like Google’s 105-qubit Willow. He urged the crypto industry to start updating encryption protocols before it’s too late.

While truly fault-tolerant quantum machines capable of breaking Bitcoin are not yet available, the accelerating pace of research suggests that preparing for a quantum future is no longer optional—it’s a necessity.

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Amazon and Walmart consider digital dollar tokens

Retail powerhouses Amazon and Walmart are reportedly examining the launch of their dollar-backed stablecoins. As per sources cited by the Wall Street Journal, the move could significantly cut transaction costs, streamline payments, and strengthen their hold on digital commerce.

The interest comes amid a broader industry shift. Tech leaders Apple, Google, Airbnb, and social platform X are exploring stablecoins. The aim is to reduce payment fees and improve international transactions.

X, led by Elon Musk, is pushing to integrate stablecoins into its X Money app, while Airbnb is negotiating to bypass card networks through partnerships with processors like Worldpay.

The GENIUS Act, a proposed law to regulate stablecoins in the United States, is scheduled for a final Senate vote on 17 June. The legislation requires stablecoins to be fully backed and mandates audits for major issuers.

If approved, it could set the tone for global corporate adoption.

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Trump’s financial report reveals major crypto and property income

Donald Trump’s latest financial disclosure reveals substantial cryptocurrency and real estate earnings. The US President declared $57.35 million in income from token sales tied to World Liberty Financial, alongside holdings of over 15 billion governance tokens in the same venture.

The filing, signed on 13 June, does not specify its coverage period but appears to reflect finances through December 2024. The timing suggests that more recent profits from the Trump family’s crypto activities were not included.

Beyond digital assets, the report shows Trump’s income remains heavily reliant on property holdings. His Florida resorts and Mar-a-Lago private club brought in over $217 million, while a development licence in Vietnam added $5 million.

A significant portion of Trump’s paper wealth remains linked to his stake in Trump Media & Technology Group, the parent company of Truth Social.

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Bitcoin price climbs as Google searches drop

Bitcoin has surged to around $107,000, close to its all-time high, yet global search interest has dropped to a five-year low. While past price jumps were matched by public curiosity, current data suggests a notable lack of retail attention.

Analysts believe the trend reflects a shift in how Bitcoin is perceived. No longer a fringe phenomenon, the cryptocurrency has matured into a mainstream asset.

Institutional investors, ETFs, and even governments are now the driving force behind Bitcoin’s momentum, with companies such as Ark Invest and Metaplanet continuing to increase their holdings.

Bitwise CEO Hunter Horsley noted the rally appears quieter because corporate players are accumulating Bitcoin strategically, unlike the hype-fuelled surges of previous cycles. Meanwhile, retail interest may be shifting to flashier sectors such as AI tokens and memecoins.

Falling search traffic may signal that Bitcoin has entered a more stable phase. Rather than trending online, it is now being treated as a serious long-term investment — a possible sign of growing market maturity.

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Vitalik unveils Lean Ethereum for post-quantum protection

Ethereum developers have revealed a ‘Lean Ethereum‘ roadmap that seeks to simplify the blockchain’s base layer while preparing it for post-quantum security. The proposal was discussed by co-founder Vitalik Buterin and researcher Justin Drake during a Berlin conference session.

The plan prioritises three core goals: enhanced security through post-quantum signatures, reduced complexity in Ethereum’s structure, and improved efficiency to lower latency and costs.

Developers are already exploring four research tracks, including a three-step-finality protocol, quantum-resistant signatures, zero-knowledge virtual machines, and improved data layering through erasure coding.

Under the broader ‘lean’ concept, Ethereum may soon adopt lean staking, verifiability for low-power devices, and simplified cryptographic design. Modular logic and formal checks are part of the plan, aligned with zkEVM pilots and inclusion list development.

Although the roadmap doesn’t suggest an immediate upgrade, the Ethereum Foundation described it as a cohesive strategy that ties current innovation to long-term resilience. Core teams will prototype components and assess trade-offs in ongoing working group discussions.

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Tether invests in Canadian gold company to strengthen its reserves

Tether has acquired nearly a third of a Canadian gold firm as part of its expanding dual investment strategy in Bitcoin and gold. The firm has bought 78.4 million shares in Elemental Altus for CA$121.5 million, securing 31.9% of the company.

The company, best known for minting USDT, now holds over 100,000 Bitcoin and nearly 80 tons of physical gold. It describes this as a ‘dual pillar strategy’ designed to safeguard value and improve financial resilience amid rising inflation and monetary uncertainty.

Tether CEO Paolo Ardoino said Bitcoin and gold offer complementary protections, with the former being a decentralised hedge and a long-trusted store of value. The company has also issued XAUT, a stablecoin backed by gold, currently valued at over $833 million.

USDT continues to dominate global trading volumes and has gained popularity in emerging markets as a digital dollar alternative. Tether says holding gold and crypto strengthens its traditional and decentralised finance position.

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Trump highlights crypto plans at Coinbase summit

US President Donald Trump sent a prerecorded message to Coinbase’s State of Crypto Summit, reaffirming his commitment to advancing crypto regulation in the US.

The administration is working with Congress to pass the GENIUS Act supporting dollar-backed stablecoins and clear market frameworks.

Congress is preparing to vote on the GENIUS Act in the Senate, while the House is moving forward with the CLARITY Act. The latter seeks to clarify the regulatory roles of the SEC and the Commodity Futures Trading Commission concerning digital assets.

Both bills form part of a broader effort to create a clear legal environment for the crypto industry.

Some Democrats oppose Trump’s crypto ties, especially the family-backed stablecoin from World Liberty Financial. Despite tensions, Trump continues promoting his crypto agenda through conferences and videos.

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Crypto conferences face rising phishing risks

Crypto events have grown rapidly worldwide in recent years. Unfortunately, this expansion has led to an increase in scams targeting attendees, according to Kraken’s chief security officer, Nick Percoco.

Recent conferences have seen lax personal security, with exposed devices and careless sharing of sensitive information. These lapses make it easier for criminals to launch phishing campaigns and impersonation attacks.

Phishing remains the top threat at these events, exploiting typical conference activities such as QR code scanning and networking. Attackers distribute malicious links disguised as legitimate follow-ups, allowing them to gain access to wallets and sensitive data with minimal technical skill.

Use of public Wi-Fi, unverified QR codes, and openly discussing high-value trades in public areas further increase risks. Attendees are urged to use burner wallets and verify every QR code carefully.

The dangers have become very real, highlighted by violent crimes in France, where prominent crypto professionals were targeted in kidnappings and ransom demands. These incidents show that risks are no longer confined to the digital world.

Basic security mistakes such as leaving devices unlocked or oversharing personal information can have severe consequences. Experts call for a stronger security culture at events and beyond, including multi-factor authentication, cautious password management, and heightened situational awareness.

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National Bank of Ukraine could hold Bitcoin

Ukraine’s parliament has introduced a bill proposing to allow the National Bank of Ukraine (NBU) to include Bitcoin as part of the country’s state reserves, alongside gold and foreign currencies. The bill 13356 gives the NBU full discretion to buy and manage cryptocurrencies without any obligation.

Supporters argue that incorporating digital assets into national reserves could enhance Ukraine’s macroeconomic stability and boost the digital economy.

Lawmaker Yaroslav Zhelezniak said the flexible framework lets the NBU decide when, how, and how much cryptocurrency to acquire independently.

Several countries, including the US, El Salvador, Switzerland, and Brazil, are exploring or already hold cryptocurrencies in their reserves. Ukraine’s move aligns with this global trend and signals an openness to financial innovation, potentially improving its attractiveness to investors and fintech firms.

While cautious, the bill represents a step towards modernising Ukraine’s economic policy and integrating emerging financial technologies.

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Binance opens to Syrian users after sanctions ease

Binance has announced it will now allow Syrian residents to access its cryptocurrency services, following the recent suspension of US sanctions on Syria. The platform had previously barred Syrian users due to longstanding international restrictions.

With Syria no longer classified as a prohibited country, local users can now register and engage in spot and futures trading, staking, cross-border payments via Binance Pay, and educational tools in Arabic.

The exchange stated that it aims to contribute to Syria’s economic recovery and digital growth, in line with international compliance.

The shift follows the rise of Syria’s new leadership under President Ahmed al-Sharaa, who came to power in December 2024 after overthrowing Bashar al-Assad. In response, US President Donald Trump declared an end to sanctions in May 2025, offering Syria ‘a chance at greatness’.

Due to persistent inflation and currency instability, Syrians have increasingly turned to crypto. Despite sanctions, Syria has ranked among the top 10 countries for crypto-related search activity since 2021, highlighting the region’s demand for financial alternatives.

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