Bitcoin Security Consortium Launches With $15M for Quantum Defense

Nine Bitcoin firms launch a $15M consortium to fund quantum-safe security research and support open-source developers.

BlackRock, Coinbase, Fidelity Digital Assets and Strategy joined seven other firms this week. Together they launched the Bitcoin Security Consortium on July 23. 

Nine founding members pledged $15 million over the next three years.

The money will fund open-source developers working on Bitcoin’s core security. Brink Executive Director Mike Schmidt will coordinate daily operations in a volunteer role.

Bitcoin Security Consortium brings together major institutional players

According to a press release, the founding members span custodians, exchanges, asset managers and infrastructure providers. Anchorage Digital, ARK Invest, Block, Blockstream and Galaxy round out the group. 

Each firm holds direct exposure to Bitcoin through custody, trading or treasury operations. That shared exposure drives the group’s interest in long-term network security.

Members will direct their pledged funds independently rather than pooling resources. No single organization will control how the money reaches developers or researchers. 

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