Coinbase Chief Executive Brian Armstrong said concerns that quantum computing could undermine blockchain security are manageable, describing the issue as one the crypto industry has time to address.
Speaking to CNBC at the World Liberty Forum in Mar a Lago alongside Senator Bernie Moreno of Ohio, Armstrong responded to questions about whether advances in quantum technology could eventually break blockchain encryption.
“One thing I’ve heard is that quantum is going to break the blockchain. Is that true?” interviewer Sara Eisen asked.
Armstrong dismissed the idea that the threat is imminent or unfixable.
He said Coinbase has been proactive and is working closely with major blockchain networks to prepare for a shift toward post quantum cryptography.
“We’re going to stay engaged on that, and I think it’s very solvable,” Armstrong said.
Quantum computing has long been viewed as a theoretical risk to public key cryptography, which underpins networks such as Bitcoin and Ethereum.
While current quantum systems are not powerful enough to crack widely used encryption methods, researchers warn that upgrading global financial systems and decentralized networks could take years, making early preparation important.
Last month, Coinbase formed an independent quantum advisory board to guide its efforts. The group includes University of Texas professor Scott Aaronson, Stanford cryptographer Dan Boneh, Ethereum Foundation researcher Justin Drake and Coinbase Head of Cryptography Yehuda Lindell.
The advisory board is expected to publish research evaluating quantum related risks and recommend migration strategies for blockchain systems.
Industry observers say there is still time to transition to stronger cryptographic standards.
Pranav Agarwal, independent director at Jetking Infotrain India, said the main concern for Bitcoin would be the potential breaking of private keys secured by SHA 256 encryption.
However, he noted that the timeline for building a large scale quantum system capable of such an attack remains uncertain and that upgrading encryption is feasible.
“There is enough time” to strengthen cryptographic protections across major networks, including Bitcoin and Ethereum, Agarwal said.
Across the broader crypto ecosystem, preparation has accelerated. The Ethereum Foundation recently elevated post quantum security to a strategic priority.
Ethereum co founder Vitalik Buterin has urged developers not to delay adopting quantum resistant cryptography, arguing that networks should aim for long term resilience rather than emergency fixes.
The Solana Foundation said in December that it had begun testing quantum resistant digital signatures on a test network. Bitcoin developers have also advanced proposals such as BIP 360, designed to reduce exposure to quantum related risks.
During the CNBC interview, Armstrong also addressed developments in U.S. market structure legislation.
He defended Coinbase’s decision to oppose an earlier draft of a bill known as the CLARITY Act, citing concerns over how stablecoin rewards were treated in the proposal.
Armstrong rejected claims that Coinbase blocked the legislation.
He said the company raised issues that brought lawmakers back to the table and expressed confidence that a revised compromise could advance in the coming months, potentially reaching the President’s desk.
He also voiced support for the Commodity Futures Trading Commission’s authority over event contracts and prediction markets, as policymakers continue to debate the regulatory framework for digital assets in the United States.
