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BlackRock, Coinbase and Strategy pledge $15M to a Bitcoin security consortium

The consortium will fund developers and researchers over the next three years, with a first focus on post-quantum cryptography.

Reported · Written up by our desk · Market Structure

BlackRock, Strategy, and Coinbase are backing a new Bitcoin Security Consortium with $15 million to support work aimed at strengthening the network's long-term security as concerns about future quantum computing grow, according to Yahoo Finance.

The group, which also includes Anchorage Digital, ARK Invest, Block, Blockstream, Fidelity Digital Assets, and Galaxy, will provide funding to developers, researchers, and organizations over the next three years. Each member will allocate its capital independently, rather than routing money through a single central grant committee, with Anchorage Digital's Mike Schmidt coordinating the consortium's work in a volunteer role.

The consortium's initial focus will be post-quantum cryptography, targeting the timeline problem of how long a decentralized network may need to research, test, and coordinate protections before quantum threats become practical. BlackRock said Bitcoin Core developers do critical work, and it described the consortium as additional support for the network's long-term security needs rather than a body that directs Bitcoin's protocol.

The consortium will not endorse specific upgrades or speak for developers. Instead, it will support existing efforts and publish material to give investors and the public a clearer view of Bitcoin's security progress, Decrypt reported.

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