This Week in Crypto: Quantum Warnings, Pi Network’s Fund, Coinbase Leak & More

BlackRock Raises Quantum Alarm for Bitcoin

BlackRock has raised concerns over a potential risk to Bitcoin’s long-term safety — quantum computing.

In its latest ETF filing, BlackRock mentioned that advances in quantum tech could one day break Bitcoin’s encryption. This is the kind of encryption that keeps Bitcoin wallets safe and transactions secure.

Here’s what the filing suggested:

This doesn’t mean Bitcoin is unsafe right now. But BlackRock’s concern reflects a growing awareness. The idea is that in the future, powerful quantum computers could crack crypto wallets unless we move to post-quantum cryptography.

Even if it’s years away, the financial world is taking it seriously — especially when trillions might flow into digital assets.

Pi Network Announces $100M Developer Fund

Pi Network made headlines by launching a $100 million fund for Web3 projects.

The goal is to support developers building apps on its enclosed mainnet ecosystem. Pi is planning to give out 10% of its native token supply to boost real-world use cases.

However, the announcement faced criticism:

Main Concerns:

• Lack of transparency
  
  
• Delays in project development
  
  
• Problems with referral rewards
  
  

Still, Pi’s move shows a clear intent to invest in grassroots crypto innovation. Despite the doubts, many developers are watching to see how this fund will impact the Pi ecosystem.

Ethereum May Challenge Bitcoin’s Dominance

Some analysts believe that Ethereum is slowly closing the gap with Bitcoin.

They highlight:

• More daily active users
  
  
• Higher network revenue
  
  
• Strong developer activity
  
  

Ethereum also powers key sectors like:

• DeFi (decentralized finance)
  
  
• NFTs
  
  
• Layer-2 scaling solutions
  
  

While Bitcoin remains the most trusted store of value, Ethereum is becoming the go-to for crypto innovation. The possibility of a “flippening” — where ETH overtakes BTC — is still a topic of hot debate.

Internet Capital Market Tokens Gain Momentum

This week also saw more attention on Internet Capital Markets (ICM) tokens — a trend that mixes crypto with traditional finance.

Key tokens mentioned:

Launch Coin stood out the most. It powers the Believe app, which lets users create meme coins on Solana directly through X (formerly Twitter).

The numbers are impressive:

• 17,000+ tokens launched
  
  
• 267,000+ traders
  
  
• $2.2 billion in trading volume
  
  

Still, there’s caution. The backend is controlled by Believe, raising questions about centralization and security.

Coinbase Hit by Data Breach and Backlash

Coinbase confirmed a major insider data breach. The company said that rogue support agents leaked customer data, including sensitive details like:

• Government-issued IDs
  
  
• Phone numbers
  
  
• Home addresses
  
  

The attackers demanded $20 million in ransom — which Coinbase refused. Instead, Coinbase is offering a $20 million bounty for help identifying the culprits.

But users are angry. Reports suggest the breach happened in January, yet Coinbase disclosed it only recently.

This timeline gap has sparked serious concerns:

Many are now calling for decentralized identity and better self-custody options. It’s a stark reminder of the dangers tied to centralized data storage.

This week showed how diverse the crypto world really is. From theoretical risks like quantum computing to real-world breaches like the Coinbase leak, the space is evolving fast.

Whether it’s Ethereum’s potential, new Web3 funding, or token creation tools, crypto continues to push boundaries — both good and bad.