This week was a whirlwind of events in the world of finance and technology. From Coinbase Global Inc. securing a conditional approval to operate as a national trust company, to the looming quantum threat to Bitcoin and the ongoing debate on financial inclusivity, the stories were as diverse as they were impactful. Here’s a quick recap of the top stories.
Coinbase Gets Conditional Approval To Operate As National Trust Company
Coinbase Global Inc. announced on Thursday that it has received conditional approval from the Office of the Comptroller of the Currency to form a federally chartered national trust company. The company clarified that it is not transitioning into a commercial bank and will not be taking retail deposits or engaging in fractional reserve banking. The charter aims to bring federal regulatory uniformity to the custody and market infrastructure business.
Bitcoin Faces Quantum Threat, Warns Crypto Exec
Alex Pruden, CEO of Project 11, has warned that the cryptocurrency industry is dangerously unprepared for the threat posed by quantum computing. This comes in the wake of a research paper published by Google, which suggests that Bitcoin’s private keys could be cracked much faster and with significantly fewer resources than previously believed.
Robinhood CEO Reflects On Career And Future Goals
Vlad Tenev, CEO of Robinhood, shared his career journey and future aspirations in a recent post. He emphasized the need for a more inclusive financial system, where the best tools, opportunities, and networks are not concentrated in a small world.
Google’s Quantum Threat Research Deemed ‘Reasonable’
Chamath Palihapitiya, a prominent figure in the crypto community, has called Google’s research on the quantum threat to crypto “quite reasonable”. He urged the crypto community to start preparing for a quantum-resistant future.
‘Pharma Bro’ Calls for Michael Saylor’s Arrest
Investor Martin Shkreli, also known as “Pharma Bro”, has criticized Michael Saylor’s latest video promoting Strategy Inc.‘s preferred stock offering. Shkreli called for Saylor’s arrest, claiming the video was misleading.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.