Technology and Science21 July, 20263 min read
Galaxy Digital Launches Bitcoin Quantum Readiness Initiative With Up To $5 Million Grants
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Galaxy Digital launches Bitcoin Quantum Readiness Initiative with up to $5 million in developer grants. Initiative includes developer grants, a research program, and an advisory council.
$5M for Quantum Readiness
Galaxy Digital launched the Bitcoin Quantum Readiness Initiative, committing up to $5 million to fund developer grants and a dedicated research program aimed at post-quantum cryptographic solutions for Bitcoin. The initiative is carried out through Galaxy Research and includes a Quantum Advisory Committee, with initial members Barry Sanders of the University of Calgary, Damien Bérubé of the MIT Sea Grant Knauss Fellow, and Eran Tromer of Boston University. The program is framed around “Q-Day,” when quantum computers may use the Shor algorithm to compromise the elliptic curve cryptography protecting Bitcoin by deriving private keys from exposed public keys, forging signatures, and extracting wallet assets.
Bitget’s account says the initiative is expected to start accepting grant applications immediately, while it also points to Project Eleven’s May estimate that quantum computers with cryptographic capabilities are more likely to appear before 2033, possibly as early as 2030. The same Bitget reporting says Old addresses and frequently reused addresses are at higher risk, and it cites estimates of about 6.9 million Bitcoin in quantum-exposed addresses from Project Eleven and about 7 million BTC vulnerable from a June exchange advisory.
Named Voices on the Threat
Alex Thorn, head of firmwide research at Galaxy, said, “There’s a gap between the quantum computing world, which is moving fast, and the Bitcoin development world, which is just beginning to engage with post-quantum cryptography in earnest,” positioning the effort as a bridge between timelines. Mike Novogratz, Galaxy’s founder and CEO, said, “As leaders in the digital assets space, we believe it’s important that we help be part of the solution to any potential threat quantum computing poses to Bitcoin,” linking the initiative to long-term security. The Quantum Advisory Council’s inaugural membership is described as Barry Sanders, Damien Bérubé, and Eran Tromer, with Sanders also quoted saying quantum timelines “continue to compress.”
Bitcoin Magazine describes Galaxy’s multi-pillar approach as including developer grants judged on a milestone basis, a research and publishing arm through Galaxy Research, and a Quantum Advisory Council to guide grant proposals. The Quantum Insider similarly frames the initiative as a response to an accelerating warning cycle around quantum computing timelines and Bitcoin’s relatively slow engagement with post-quantum cryptography.
Migration, Standards, and Risk
Galaxy’s initiative describes grant priorities including quantum-resistant transaction proposals, integration of post-quantum signature schemes, tooling for wallet and custodian migration, and formal security audits of proposed code. The program also points to the need for ecosystem-wide coordination, with Decrypt and Bitcoin Magazine describing a push to prepare for post-quantum cryptographic standards before a practical quantum computer emerges. Bitcoin Magazine notes that NIST finalized its first post-quantum standards in 2024 and that a recent executive order set a 2031 federal deadline for the federal government to defend against quantum attacks on classical cryptography.
The same reporting ties the urgency to address exposure, saying old and reused addresses face the sharpest risk and citing an estimated 1.7 million BTC in legacy pay-to-public-key addresses. CoinDesk’s account adds that researchers warn preparations could take years and says as much as 6.9 million bitcoin—worth about $461 billion at current prices—could be potentially at risk if the technology advances.