Bitcoin Firms Launch Security Consortium With $15 Million Pledge
Bitcoin’s security depends on a decentralized community of open-source developers who maintain its core software and cryptography, yet that work has often lacked durable institutional funding. The issue has grown more important as asset managers, custodians, exchanges and corporate holders deepen their exposure to bitcoin. For firms including BlackRock, Coinbase and Strategy, backing security research and preparations for future quantum-computing risks increasingly amounts to protecting financial infrastructure and balance-sheet assets, not simply supporting an industry public good.
The Bitcoin Security Consortium launched on July 23, 2026, with nine founding members: Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy and Strategy. They pledged a combined $15 million over three years to fund developers and researchers, including work on potential post-quantum protections. Each member will independently choose where its contribution goes. Mike Schmidt, executive director of Bitcoin developer nonprofit Brink, will coordinate day-to-day operations as a volunteer. The group says it will not direct Bitcoin’s protocol or advocate specific changes.
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The history behind this eventBlackRock, Coinbase, Strategy Back $15 Million Bitcoin Quantum Defense Push
Bitcoin relies on elliptic-curve cryptography to verify ownership and authorize transactions. A sufficiently powerful quantum computer could theoretically derive private keys from exposed public keys, putting some older addresses at risk, though no such machine exists today. The issue matters because upgrading a decentralized network is slow: any defense must be researched, agreed upon and deployed across wallets, exchanges, miners and users well before the threat becomes practical.
On July 23, 2026, BlackRock, Coinbase, Strategy and six other firms launched the Bitcoin Security Consortium, pledging a combined $15 million over three years for developers, security research and post-quantum cryptography. Members will allocate their commitments independently rather than place the money in a central fund, and the group says it will not direct Bitcoin development or take positions on protocol changes. Brink Executive Director Mike Schmidt will coordinate its day-to-day work as a volunteer.
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