Coinbase CEO Brian Armstrong Says Quantum Computing Is a Bigger Threat to Crypto Than AI: ‘When, Not If’

Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong said on Thursday that quantum computing, rather than artificial intelligence, represents the more serious long-term threat to cryptocurrency security.

Quantum Computing Is a ‘Different Story’

During the company’s third-quarter earnings call, Armstrong said he’s “not too worried” about AI threatening the elliptic-curve digital signature algorithm that is used across major blockchains such as Bitcoin (CRYPTO: BTC).

“There’s been something like, you know, a 40-year track record actually of people attempting new algorithms to try to make this, you know, easier to break, and they’ve basically made zero progress,” he added.

Armstrong said that Quantum computing is a “different story” altogether.

“Quantum, you know, it requires a new type of computer to be built and actually to do it at scale, not just like a theoretical one with a couple of qubits,” the cryptocurrency billionaire said. “And so I think that’s more of a matter of when, not if.”

Armstrong Remains Optimistic

Armstrong said Coinbase has started upgrading its custody infrastructure for post-quantum security. He added that blockchain networks must also adopt “quantum-resistant” technology to address the broader risk.

Notably, Coinbase announced the formation of an advisory board in January to assess the implications of quantum computing and prepare for "threats," even those many years away.

“My hope is that the Bitcoin community will essentially find a path over the coming couple of quarters,” Armstrong stated.

For Bitcoin, quantum computing poses a theoretical risk: private keys could be derived from exposed public keys in 9 minutes, according to Google, opening a pathway for unauthorized access to funds.

Hit-and-Miss in Q3

The comments come as Coinbase reported mixed third-quarter results and highlighted growth in its prediction-markets business. Revenue fell short of expectations, but adjusted earnings beat estimates.

The company highlighted its prediction markets business as one of its fastest-growing segments in company history.

Price Action: Coinbase shares are down 5.35% in pre-market trading, according to Benzinga Pro. The stock closed 1.07% lower at $160.59 during Thursday’s regular trading session.

Benzinga’s Edge Stock Rankings indicate that COIN has a weaker price trend in the short, medium and long term.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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