Bitcoin Dev Propose BIP-361 to Freeze Quantum Vulnerable Wallets

Bitcoin researchers introduced a radical protocol draft to restrict and eventually invalidate billions in quantum-vulnerable funds across the network. The BIP-361 proposal aims to secure the ledger by rendering legacy outputs unspendable unless owners migrate to modern, quantum-resistant alternatives through a structured multi-year transition window.

Authors warn that over 34% of the total supply carries exposed public keys, creating a massive target for future attackers. The plan functions by 1st blocking new transactions to vulnerable address types before eventually freezing stagnant pools of coins that fail to adopt advanced cryptographic signature schemes.

This aggressive defense strategy enters the ecosystem via GitHub as developers weigh a looming 2029 migration target suggested by Google. While the timeframe remains debated, the researchers argue that waiting for an 1-actual breach invites catastrophic loss, necessitating forced upgrades for every major exchange, custodian, and retail wallet.

Industry titans like Michael Saylor currently dismiss these alarms as theoretical distractions, while others view the update as a standard security cycle. Despite the internal friction, this move highlights a growing urgency to fortify the world's largest digital asset against the encroaching shadow of sufficiently powerful quantum computers.

Tom Lee’s BitMine Posts $3.82 Billion Quarterly Loss

Leading Ethereum treasury firm BitMine Immersion Technologies reported a net loss exceeding $3.82 billion for the recent quarterly period. These massive figures resulted from mounting unrealized paper losses on the firm's extensive digital holdings. Shares in the company gained slightly despite the staggering decline in asset value.

Chairman Tom Lee noted that market conditions for the 2nd-largest digital asset now drive the firm's primary results. BitMine purchased its 1st large tranche at prices much higher than current market levels. Ethereum has dropped over 50% from its previous high, weighing on overall treasury performance.

Elon Musk’s X Rolls Out Interactive Finance Cashtags

Social media platform X introduced a new feature allowing users to view financial data for cryptocurrencies directly within their timelines. Head of product Nikita Bier launched the tool for mobile users across the United States. Search results now automatically suggest specific assets through a unique interactive tagging system.

This update enables fans to browse live price charts and relevant chatter for various tokens without leaving the application. Canadian participants can also access external links to brokerage services for immediate trading. The effort aligns with broader goals to transform the site into an all-in-one financial destination.

Trump’s World Liberty Proposes Token Vesting Overhaul

The Trump-backed decentralized finance project World Liberty Financial proposed moving over 62 billion locked governance tokens to fixed vesting schedules. This plan includes a mandatory burn of 10% of the insider allocation for those who opt in. Insiders face a 5-year distribution period starting with a cliff.

Early supporters must also follow specific release terms spanning 4 years to ensure long-term ecosystem stability for the protocol. This governance push occurred amidst a public dispute with Tron founder Justin Sun over contract permissions. The team denied allegations regarding the ability to freeze assets without proper cause.

Data of the Day

Hyperliquid reached a record $2.38 billion in open interest for its HIP-3 markets last week as demand for tokenized equity exposure surged. This decentralized exchange currently processes massive trading volumes for non-crypto assets like oil and major stock indices. Institutional traders are migrating to this platform.

Traditional financial venues including the CME and NYSE now face direct competition from these liquid onchain derivatives that never close. HIP-3 market makers are increasingly providing liquidity to these tokenized products to capture growing global interest. Regulatory officials expect to accelerate their oversight as these markets attract substantial capital.

More Breaking News

• Pakistan ended its 7-year crypto ban by allowing regulated banks to serve licensed service providers while prohibiting institutions from trading or holding assets on their own balances.
• Tron founder Justin Sun announced a post-quantum upgrade plan to deploy NIST-standard signature schemes on the mainnet, aiming to secure user assets against future technical threats.
• Trading platform eToro entered an agreement to acquire self-custodial wallet provider Zengo for $70 million to integrate keyless multi-party computation technology for its 40 million users.
• Societe Generale's digital asset subsidiary partnered with Consensys to integrate its MiCA-compliant USD CoinVertible stablecoin into MetaMask for fiat on-ramps, trading, and decentralized finance interactions.
• The United Kingdom's Financial Conduct Authority launched a public consultation on guidance for stablecoins and staking before the country's broader crypto regulatory regime takes effect in 2027.
• Stablecoin issuer Tether transferred 951 bitcoin worth over $70 million from a Bitfinex wallet to its reserve, bringing the firm's total holdings to 97,141 units of bitcoin.
• A central bank survey revealed that only 4% of Danish citizens own digital assets as cautious banking approaches and tax treatments limit adoption compared to other jurisdictions.
• Bitwise Asset Management launched an Avalanche exchange-traded fund that intends to stake held assets through an in-house division to maximize rewards for institutional and retail investors.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.