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We asked an expert about quantum computer threat as Google and BlackRock ring the alarm 🚨

On May 27, it was reported that the investment management giant BlackRock warned investors that the Bitcoin network is vulnerable to quantum computers.

Researchers from Google made a similar statement the same day. The CEO of decentralized post-quantum infrastructure, Naoris Protocol, David Carvalho, answered our questions to clarify the risks and whether there is hope.

Speculations about the risk of the Bitcoin network being cracked by quantum computers in the near future are not something new. It is impossible to brute force RSA and ECC encryption used in Bitcoin with modern-day processors, but it is believed that quantum computers will be able to retrieve private keys if the public key is available. The date when quantum computers will achieve sufficient power to break Bitcoin wallets is referred to as Q Day.

Let's add some nuance here. While quantum threats to cryptography are real, the timeline matters. Current quantum computers are nowhere near breaking Bitcoin's cryptography. The industry is already working on quantum-resistant solutions.

— T (@agentic_t) May 27, 2025
Unlike regular processors, quantum processors can perform multiple calculations simultaneously, which dramatically increases computing speed. Several companies seek solutions to avoid the potential risks. Some wallet producers already claim their products are quantum-proof.

BlackRock’s statement

In the updated version of BlackRock’s prospectus for IBIT (BlackRock’s iShares Bitcoin Trust ETF), the company warns investors about potential security risks associated with Bitcoin. BlackRock highlights the issue that developers of decentralized networks often lack a financial incentive to respond in a timely manner to security threats.

One of the outlined threats is quantum computers, which, in a few years, will become powerful enough to crack the encryption used in Bitcoin. Below, you can see an extract pointing at the possibility of the security breach and the implication of such a breach on the price of IBIT (and understandingly, Bitcoin itself):

ā€œā€¦a malicious actor may be able to compromise the security of the Bitcoin network or take the Trust’s bitcoin, which would adversely affect the value of the Shares. Moreover, the functionality of the Bitcoin network may be negatively affected such that it is no longer attractive to users, thereby dampening demand for bitcoin. Even if another digital asset other than bitcoin were affected by similar circumstances, any reduction in confidence in the source code or cryptography underlying digital assets generally could negatively affect the demand for digital assets and therefore adversely affect the value of the Shares.ā€

The warning by BlackRock garnered attention, as the issue of quantum computers had never been publicly acknowledged at such a high level before. If such a large and respected company sees the problem in quantum computers, it is a signal that the threat is considerable.

The Google study and a bit of irony
A new study by Google suggests that the amount of resources needed to reach the Q Day is 20 times less than previously estimated. The author of the paper, Craig Gidney, writes:

ā€œIn this paper, I reduced the expected number of qubits needed to break RSA2048 from 20 million to 1 million. My hope is that this provides a sign post for the current state of the art in quantum factoring, and informs how quickly quantum-safe cryptosystems should be deployed […]

Vulnerable systems should be deprecated after 2030 and disallowed after 2035. Not because I expect sufficiently large quantum computers to exist by 2030, but because I prefer security to not be contingent on progress being slow.ā€

Ironically, it is Google who works on advancing quantum computing. Its Sycamore processor has 53 physical qubits, which places it among the ten most powerful quantum computers currently existing.

We discussed this topic with an expert
To better understand what will happen when Q Day arrives and how much time is left, we addressed several questions to David Carvalho, founder and CEO of the decentralized post-quantum infrastructure, Naoris Protocol.

Crypto.news: How much time do we have before the first Bitcoin wallet gets ā€˜hacked’ via a quantum computer?

David Carvalho: A lot less time than people seem to think. There’s a whole lot of noise this week because a Google analyst has published a report saying it will take far less time than anticipated, but the cybersecurity community has known this for a while. Very soon – within five years or even less – we’ll get to a point where quantum computers have enough qubits and sufficient error correction to be a real threat to ECDSA encryption.

We don’t know exactly when this will happen yet, but we do know that any protocol that doesn’t implement quantum security now won’t be able to retrofit it once quantum computers do catch up. So now is the time to focus all efforts on this before it’s too late.

CN: What happens next after the quantum computer achieves the ability to hack BTC wallets?

DC: The most frightening thing about quantum is that when we get to ā€œQ-Dayā€, the attacks will be swift, quite possibly simultaneous, and certainly devastating. And most importantly, retroactive, meaning that even transactions that have been signed and executed could be at risk. Which means that wallets and blockchains can’t secure themselves against quantum attacks retroactively, they have to do it preemptively.

CN: Will quantum computers be immediately available for bad actors? Are all the non-quantum-proof BTC wallets being hacked simultaneously?

DC: Well, it’s unlikely there will be such a coordinated effort. Bad actors will likely target the biggest and most vulnerable wallets first and then move on to smaller targets. But that, in itself, is incredibly worrying, since the biggest targets are the likes of BlackRock, the second-largest holder of Bitcoin, which is also responsible for trillions of dollars in pension assets. It’s a real risk to financial stability.

CN: What will be the fate of ā€œlost bitcoinsā€ and Satoshi Nakamoto’s holdings?

DC: All of those ā€œdormantā€ assets would be ripe for the picking, unless the blockchain is secured at the infrastructure level, because Satoshi will have almost certainly made transactions from vulnerable addresses. Given Satoshi’s substantial holdings, they would likely be a major target for bad actors.

CN: In the event that non-quantum-proof BTC wallets are successfully hacked, will it be a good advertisement for quantum-proof wallets, or will it scare off the masses from Bitcoin and send the price down?

DC: A quantum hack on Bitcoin would lead to a real loss of trust, so it wouldn’t be good news for the price. Like any black swan event, it could be the catalyst for a crypto winter. However, the fact that major institutions, and even governments, are now holding Bitcoin is encouraging. Because they are actually acutely aware of the risks from quantum computing – in fact, BlackRock recently highlighted it in its updated spot Bitcoin ETF filing. If anyone can push the blockchain sector to prepare for Q Day, it’s BlackRock and the US government. But they better do it quickly.

Conclusion:

All in all, the fall of Bitcoin’s protection is only a matter of time, and time is running out, considering how many elements of the puzzle need to be switched to quantum-proof solutions – from mining infrastructure to exchanges and wallets. Transitioning to quantum-proof services may take time, so it’s better to start early.

https://crypto.news/we-asked-an-expert-about-quantum-computer-threat-as-google-and-blackrock-ring-the-alarm/

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Ripple CEO on partnership with BNY to serve as custodian of stablecoin
00:01:12
Brad Garlinghouse In Washington šŸš€

It’s time for a fair and open level playing field.

Under Gary Gensler it was quite the opposite.

  • Brad Garlinghouse
    July 9, 2025
00:01:56
More Of The Same...l

🚨 JUST IN: Patriot Tom Fitton, who has been fighting DOJ and FBI to release documents for years, has practically thrown in the towel.

šŸ‘‰ "The justice department and the FBI are irredeemably compromised and corrupted.
The leadership needs to understand that and act accordingly." ~Tom Fitton

00:01:30
šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? šŸ”œ

The future of Crypto x AI is about to go crazy.

šŸ‘‰ Here’s what you need to know:

šŸ’  'Based Agent' enables creation of custom AI agents
šŸ’  Users set up personalized agents in < 3 minutes
šŸ’  Equipped w/ crypto wallet and on-chain functions
šŸ’  Capable of completing trades, swaps, and staking
šŸ’  Integrates with Coinbase’s SDK, OpenAI, & Replit

šŸ‘‰ What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto šŸ‘‰txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

šŸŽ As of July 8th there have been 84 VERI SmartMetal NFT Activations (1.3%). With shipments ramping up, we witness the corresponding jump in activations.

Need help getting started? Check out our knowledge base to get the info you need: https://veridao.freshdesk.com/support/solutions/articles/51000487052-what-are-the-nft-activation-steps

šŸ‘‰Interested in which NFTs have been activated? Check them out here:
https://basescan.org/token/0x4516a5d613c30a36d157d3b579813734cbb929a4

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🚨BREAKING: The US House Committee on Financial Services says that next week the House will deliver on President Trump's call to make the US the "crypto capital of the world!

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Brinc Launches Web3 Accelerator with Octopus, XDC & IDA

Brinc Launches Web3 Accelerator with Octopus, XDC & IDA to Transform Hong Kong’s Loyalty and Payment Systems.

Read more: https://www.brinc.io/blog/brinc-launches-octopus-backed-web3-accelerator-program-to-revolutionize-hong-kongs-retail-loyalty-and-payment-ecosystem-with-xdc-and-ida-as-key-web3-infrastructure-partners/

šŸ”— Startups can apply from July 10

šŸ“… Launching Sept 8

Learn more about the Web3 Accelerator program and apply now: https://www.brinc.io/stablecoin-accelerator/

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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem PostĀ reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

During the 2022 "Woman, Life, Freedom" protests, Starlink enabled Iranians to communicate and share footage globally despite network blackouts," she added.

MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,ā€ he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch,Ā called onĀ military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social mediaĀ postĀ of forcing Iranians into an unwanted war.

Starlink has been a beacon in other crises. Beyond Iran, Musk has leveraged Starlink to assist people during natural disasters and conflicts.

In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action,Ā repostingĀ a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

"God bless you, Elon. The Starlink beams are on in Iran!" LevinĀ wrote.

Musk, who recently stepped down from leading the DOGE in the Trump administration, has apologized to President Trump for past criticisms, including his stance on the One Big Beautiful Bill.

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šŸ’³ PayPal:Ā 
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Your generosity keeps this mission alive, for all! NamastĆ© šŸ™ Crypto Michael ⚔ Ā The Dinarian

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

ā€œCritical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).ā€

The National Conference of State Legislatures expressed similar concerns in early June, stating:

ā€œWe urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.ā€

Evolution of nationwide authorization

Section 16 addresses several issues beyond stablecoins, including preventing a recurrence of the SEC’s SAB 121, which forced crypto assets held in custody onto balance sheets. However, the nationwide authorization subsection was added after the legislation cleared the Senate Banking Committee, with two significant modifications since then.

Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

However, the House STABLE Act takes a more permissive approach, allowing regulators to decide which non-stablecoin activities are permitted. If the House version prevails in reconciliation, it could result in a significant expansion of allowed nationwide banking activities beyond stablecoins.

Is it that bad?

As originally drafted, the clause seemed overly permissive.

The amended clause makes sense for stablecoin issuers. They want to have a single regulator and be able to provide the stablecoin services throughout the United States. But it also leans into the perception outside of crypto that this is just another form of regulatory arbitrage.

The controversy over Section 16(d) reflects concerns about creating a regulatory gap that allows banks to operate interstate without the oversight typically required from either federal or state authorities. As the two Congressional chambers work toward reconciliation, lawmakers must decide whether stablecoin legislation should include provisions that effectively reduce traditional banking oversight requirements.

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šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! NamastĆ© šŸ™ Crypto Michael ⚔ Ā The Dinarian

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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina HeaverĀ explained:

ā€œRWA issuance is no longer theoretical. It’s now a regulatory reality.ā€

VARA defined:

- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

ā€œTokenization will redefine global finance in 2025.ā€

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

Ā 

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If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! NamastĆ© šŸ™ Crypto Michael ⚔ Ā The Dinarian

Ā 

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