Quantum computing will not “break the blockchain,” Coinbase CEO Brian Armstrong said Wednesday, calling the concern “a very solvable issue” and pointing to ongoing work with major networks to prepare for future advances.
“No, that’s not true,” Armstrong replied. “I think that’s a very solvable issue.”
“We’re going to stay engaged on that, and I think it’s very solvable,” he added.
Quantum computing and cryptoWhile current quantum machines are far from capable of breaking widely used public-key cryptography, researchers have warned that transitioning global financial systems and decentralized networks to new standards could take years.
The group is expected to publish research assessing quantum-related risks and outline migration strategies.
“Quantum computing’s main risk for Bitcoin is breaking the private keys of the SHA-256 encryption,” Pranav Agarwal, independent director at Jetking Infotrain India, the country’s first listed Bitcoin treasury company, told Decrypt.
“However, when a fast and large enough quantum model is close to readiness is still a matter of debate, and it is much easier to upgrade the encryption,” he added.
Agarwal noted that while some observers may believe the window is closing, the industry itself sees sufficient runway to strengthen cryptography across major networks.
In the interview, Armstrong also discussed ongoing negotiations on U.S. market-structure legislation, stablecoin reward debates, and prediction markets, while backing the Commodity Futures Trading Commission’s authority over event contracts.
He pushed back on claims that Coinbase “blocked” the legislation, saying instead that its concerns brought lawmakers “back to the table,” and expressed confidence that a compromise could still move forward, potentially reaching the President’s desk in the coming months.
