Strategy, Coinbase, BlackRock launch Bitcoin Security Consortium with $15M pledge
Strategy, Coinbase, BlackRock and other leading financial institutions and Bitcoin (BTC) companies launched the Bitcoin Security Consortium on Thursday to support the long-term security and resilience of the Bitcoin network. Bitcoin Security Consortium launches with $15M commitment from industry leaders The consortium‘s founding members have independently pledged a combined $15 million over the next three years to fund developers and researchers working on Bitcoin’s security, including efforts to prepare the network for potential threats from quantum computing. The founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy and Strategy. The group represents a broad cross-section of the institutional Bitcoin ecosystem, including asset managers, custodians, exchanges, infrastructure providers, payments companies and major Bitcoin holders. The consortiums day-to-day activities will be coordinated by Mike Schmidt, Executive Director of Brink, a nonprofit organization that funds and supports Bitcoin open-source developers. The initiative aims to support developers and researchers already working on Bitcoins security. It will also provide investors, the media and the general public with a reliable source of information about the state of those efforts. “As long-term holders, we have every incentive to see Bitcoin remain secure for generations. Funding the people who do this work, and helping inform the conversation around