This week has been full of events in the world of finance and technology. Of Coinbase Global Inc. which was granted conditional approval to operate as a national trust due to the imminent quantum threat to the Bitcoin and in the ongoing debate over financial inclusiveness, the stories were as diverse as they were impactful. Here’s a quick recap of the best stories.
Coinbase Gets Conditional Approval to Operate as National Trust
Coinbase Global Inc. announced Thursday that it has received conditional approval from the Office of the Comptroller of the Currency to form a national trust established by a federal charter. The company clarified that it would not become a commercial bank, that it would not accept retail deposits and that it would not practice fractional reserve banking. The charter aims to bring federal regulatory uniformity to custody and market infrastructure activities.
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Bitcoin faces quantum threat, warns crypto industry executive
Alex Pruden PDG Project 11, has warned that the cryptocurrency industry is dangerously unprepared for the threat of quantum computing. This follows a research paper published by Google, which suggests that Bitcoin’s private keys could be cracked much faster and with far fewer resources than previously thought.
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Robinhood CEO reflects on his career and future goals
Vlad TenevCEO of Robinhood, shared his career journey and future aspirations in a recent post. He stressed the need for a more inclusive financial system, in which the best tools, opportunities and networks are not concentrated in a small world.
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Google research on quantum threat deemed “reasonable”
Chamath Palihapitiya, a prominent figure in the crypto community, called Google’s search for the quantum threat to crypto “completely reasonable.” He urged the crypto community to start preparing for a quantum-resistant future.
Read the full article here.
”Pharma Bro ” calls for Michael Saylor’s arrest
The investor Martin Shkrelialso known as “Pharma Bro,” criticized Michael Saylor’s latest video promoting the company’s preferred stock offering Strategy Inc. Shkreli called for Saylor’s arrest, saying the video was misleading.
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