Crypto giants launch $15M Bitcoin Security Consortium
6.7 Security Leading crypto and financial firms formed the Bitcoin Security Consortium, pledging $15M over three years to support Bitcoin security. Members allocate funds independently, with no central authority.
A coalition of top financial and crypto firms—including BlackRock, Coinbase, Fidelity Digital Assets, ARK Invest, Anchorage Digital, Block, Blockstream, and Galaxy—has established the Bitcoin Security Consortium. This initiative will commit $15 million over three years to support independent developers, researchers, and organizations dedicated to enhancing Bitcoin’s security, infrastructure, cryptography, and resilience. The consortium is focused on addressing emerging threats, such as those from quantum computing, and will promote transparency by providing regular updates to investors and the public. Coordination is managed by Mike Schmidt of Brink, who volunteers in this role. Importantly, each member will allocate its share of funding independently, ensuring there is no central fund or authority influencing Bitcoin’s development. The consortium’s mission is to reinforce the long-term security of the Bitcoin network through industry-wide collaboration, without directing protocol changes.
