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Bitcoin Core Developer: Would Rather Freeze 5.6 Million BTC Than Let Them Fall into the Hands of Quantum Hackers
Odaily News Bitcoin Core developer Jameson Lopp stated that compared to potential future quantum computing attacks, he would prefer to "freeze" approximately 5.6 million long-dormant BTC from the network rather than letting them be acquired by attackers. These bitcoins have not moved for over 10 years and may be permanently lost, valued at around $420 billion at current prices. If future breakthroughs in quantum computing lead to the private keys of old addresses being cracked, these assets could be transferred again, potentially triggering severe market volatility or even a crisis of confidence. Although the community recently proposed BIP-361, the proposal is still in its early stages and is not a formally promoted solution, but rather more like a contingency plan for an "extreme risk." (CoinDesk)
American Bankers Association Criticizes White House Stablecoin Report, Warns That Scaling Interest-Bearing Stablecoins Would Threaten Community Banks
According to reporter Eleanor Terrett, the American Bankers Association (ABA) has publicly criticized the recent stablecoin report issued by the White House Council of Economic Advisers (CEA), arguing that the report’s analytical direction is flawed and overlooks more fundamental policy risks. The ABA warns that permitting stablecoins to pay interest could trigger massive outflows of deposits from community banks, raise funding costs, and thereby tighten local credit supply. The ABA stated: “The CEA report focuses on the implications of banning interest payments, thereby creating a false sense of security while sidestepping the far more disruptive scenario—rapid, large-scale expansion of interest-bearing payment stablecoins.”
Bessent: Powell's Decision to Stay as Governor Would Defy Tradition
U.S. Treasury Secretary Bessent stated that it would be unusual for outgoing Federal Reserve Chair Powell to remain as a Fed governor. For someone who has always emphasized norms, his unilateral decision would run counter to tradition. Kevin Warsh will bring a fresh perspective to the Federal Reserve with a clear system of accountability, effective management mechanisms, and sound policy-making.
American Bankers Association Criticizes White House Stablecoin Report, Warns That Scaling Interest-Bearing Stablecoins Would Threaten Community Banks
According to reporter Eleanor Terrett, the American Bankers Association (ABA) has publicly criticized the recent stablecoin report issued by the White House Council of Economic Advisers (CEA), arguing that the report’s analytical direction is flawed and overlooks more fundamental policy risks. The ABA warns that permitting stablecoins to pay interest could trigger massive outflows of deposits from community banks, raise funding costs, and thereby tighten local credit supply. The ABA stated: “The CEA report focuses on the implications of banning interest payments, thereby creating a false sense of security while sidestepping the far more disruptive scenario—rapid, large-scale expansion of interest-bearing payment stablecoins.”
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Bessent: Powell's Decision to Stay as Governor Would Defy Tradition
U.S. Treasury Secretary Bessent stated that it would be unusual for outgoing Federal Reserve Chair Powell to remain as a Fed governor. For someone who has always emphasized norms, his unilateral decision would run counter to tradition. Kevin Warsh will bring a fresh perspective to the Federal Reserve with a clear system of accountability, effective management mechanisms, and sound policy-making.
Bitcoin Core Developer: Would Rather Freeze 5.6 Million BTC Than Let Them Fall into the Hands of Quantum Hackers
Odaily News Bitcoin Core developer Jameson Lopp stated that compared to potential future quantum computing attacks, he would prefer to "freeze" approximately 5.6 million long-dormant BTC from the network rather than letting them be acquired by attackers. These bitcoins have not moved for over 10 years and may be permanently lost, valued at around $420 billion at current prices. If future breakthroughs in quantum computing lead to the private keys of old addresses being cracked, these assets could be transferred again, potentially triggering severe market volatility or even a crisis of confidence. Although the community recently proposed BIP-361, the proposal is still in its early stages and is not a formally promoted solution, but rather more like a contingency plan for an "extreme risk." (CoinDesk)
American Bankers Association Criticizes White House Stablecoin Report, Warns That Scaling Interest-Bearing Stablecoins Would Threaten Community Banks
According to reporter Eleanor Terrett, the American Bankers Association (ABA) has publicly criticized the recent stablecoin report issued by the White House Council of Economic Advisers (CEA), arguing that the report’s analytical direction is flawed and overlooks more fundamental policy risks. The ABA warns that permitting stablecoins to pay interest could trigger massive outflows of deposits from community banks, raise funding costs, and thereby tighten local credit supply. The ABA stated: “The CEA report focuses on the implications of banning interest payments, thereby creating a false sense of security while sidestepping the far more disruptive scenario—rapid, large-scale expansion of interest-bearing payment stablecoins.”