Fri Nov 21 10:40:00 UTC 2025: Summary:

Bitcoin, Ethereum, and other cryptocurrencies are experiencing a downturn, fueled by concerns about market crashes and the emerging threat of quantum computing. Vitalik Buterin, Ethereum’s co-founder, warns that quantum computers could break the elliptic curve cryptography that secures cryptocurrencies before 2028. He also voiced concerns about the growing influence of financial institutions like BlackRock, potentially leading to centralization and hindering regular users. The field of quantum computing is advancing rapidly, with Google and Microsoft making significant strides. Experts are urging cryptocurrency developers to prepare for a post-quantum world by updating their blockchains to withstand these attacks, suggesting a move to stronger blockchains is needed by 2030.

News Article:

Crypto Crash Fears Mount as Quantum Computing Threat Looms, Ethereum Founder Warns

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[Date] – Bitcoin, Ethereum, and the broader cryptocurrency market are reeling as crash fears grip investors. Bitcoin has fallen below the psychological $100,000 mark, dragging down other major cryptocurrencies and igniting concerns about a potential trillion-dollar market wipeout.

Adding to the unease, Ethereum co-founder Vitalik Buterin has issued a stark warning about the threat posed by quantum computers. Speaking at the Buenos Aires Devconnect conference, Buterin cautioned that elliptic curve cryptography, a foundational pillar of blockchain security, could be compromised before the 2028 U.S. presidential election.

“Elliptic curves are going to die,” Buterin stated, highlighting the need for proactive measures to safeguard cryptocurrencies.

Buterin also expressed apprehension about the growing influence of Wall Street giant BlackRock, particularly after the launch of Bitcoin and Ethereum ETFs in early 2024. He warned that increasing institutional involvement could lead to centralization, as base-layer choices might be optimized for institutions, making it harder for regular users to run nodes. “It easily drives other people away,” he said.

These concerns coincide with significant advancements in quantum computing. Google and Microsoft have recently announced breakthroughs, fueling anxieties about the imminent potential to crack current encryption methods. Quantum computer researcher Scott Aaronson believes that “it’s a live possibility that we’ll have a fault-tolerant quantum computer running Shor’s algorithm before the next U.S. presidential election”.

Nic Carter, a crypto investor, describes the threat as giving him “an urgent sensation like I have to act on it now with as much intensity as I can muster.”

Experts are now urging cryptocurrency developers to prepare for a post-quantum world. Théau Peronnin, CEO of Alice & Bob, advised that Bitcoin needs to “fork [move to a stronger blockchain] by 2030.”

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