Cypherpunk Adam Back dismissed concerns that quantum computing poses a threat to Bitcoin, arguing the technology is still “ridiculously early.” The response from Bitcoin developers on the risk of quantum computing to the cryptocurrency is weighing down its price and affecting capital flow, crypto industry executives have argued. Adam Back, a cypherpunk the and co-founder of Bitcoin infrastructure company Blockstream argued in a series of X posts on Thursday that it is good for Bitcoin (BTC) to be “quantum ready,” but it won’t be a threat for the next few decades, as the technology is still “ridiculously early,” and has research and development issues. He predicts there will be no risks in the next ten years and even if some parts of Bitcoin’s encryption were broken, it does not rely on encryption for its core security model and “it’s not going to result in Bitcoin being stolen on the network.” Read more
XRP has a “number of reasons” that are attracting traditional investor dollars, which has helped to push XRP ETFs over $1 billion in assets, says CF Benchmarks CEO Sui Chung. XRP exchange-traded funds have surpassed $1 billion in assets due to the long-standing recognition of the token among mainstream market participants, combined with its strong price performance over the past few years, according to a crypto executive. It comes as spot Ether (ETH) ETFs continue to post outflows, while spot Bitcoin (BTC) ETFs have recorded choppy performance over the past week. “Many investors are taking a position in XRP because of the familiarity. It has a long track record,” Sui Chung, the CEO of crypto price index provider CF Benchmarks, told CNBC on Wednesday. Read more