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Project Eleven, a quantum computing research organization, has announced the Q-Day Prize – a global challenge offering 1 Bitcoin to the first team or individual who can use Shor’s algorithm on a quantum computer to break part of an elliptic curve cryptographic (ECC) key. The competition began on April 16, 2025, and will run until April 5, 2026. The main objective is to assess the real-world risk that quantum computing poses to Bitcoin’s cryptographic security. The challenge specifically targets the Elliptic Curve Digital Signature Algorithm (ECDSA). Global Quantum Challenge According to Project Eleven’s tweet , more than 10 million Bitcoin addresses have exposed public keys, potentially putting an estimated 6.2 million BTC, worth approximately $500 billion, at risk if quantum computing capabilities continue to advance. The Q-Day Prize aims to move the discussion around quantum threats beyond theoretical speculation by encouraging a practical demonstration of vulnerability. Participants must run Shor’s algorithm solely on a quantum computer, without assistance from classical computing methods. Even breaking a few bits of a Bitcoin key would qualify as a valid proof-of-concept and could indicate that full key recovery is plausible with future technological improvements. Project Eleven stated that no real-world ECC key has ever been cracked to date. The initiative comes amid notable progress in the quantum computing sector. Google’s ‘Willow’ chip, for example, recently performed a computation in five minutes that would take traditional supercomputers an estimated 10 septillion years. Other firms, including IBM, Amazon, and Microsoft, have also made advancements in quantum hardware, and access to quantum processors is increasingly available via cloud services. PsiQuantum, another major player in the field, raised $750 million in early 2025, citing developments in photonic chip design and improvements to quantum algorithms such as Shor’s. While industry experts do not consider the quantum threat to Bitcoin to be imminent, Project Eleven’s initiative seeks to quantify that risk through open experimentation. The Great Quantum Debate The quantum computing debate isn’t new. Earlier this year, CryptoQuant identified it as an emerging risk, especially in areas like mining and private key protection. The debate reignited after a November NIST report warned that certain algorithms vulnerable to quantum attacks will be phased out within five years. While some voices, such as ‘Bitcoin Isaiah’ on X, advocate for urgent preparation, others like Blockstream CEO Adam Back maintain that Bitcoin’s encryption should hold firm until around 2035. The post Can Quantum Computing Break Bitcoin? Project Eleven Puts It to the Test appeared first on CryptoPotato .
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Canary Capital Seeks Approval for First-Ever Staked TRX ETF
Asset management firm Canary Capital has filed with regulators to launch an exchange-traded fund (ETF) based on the Tron network’s native token, TRX. What sets this proposal apart is its unique approach—besides holding spot TRX, the fund intends to stake a portion of its holdings to generate yield. According to data from StakingRewards.com, TRX currently offers an annualized staking yield of around 4.5%. This built-in return potential could make the ETF especially appealing to investors seeking passive income in addition to crypto exposure. TRX, which sits at a market capitalization of over $22 billion according to CoinMarketCap, is the native currency of the Tron blockchain—a proof-of-stake network founded by entrepreneur Justin Sun. While filings for altcoin ETFs are becoming increasingly common, Canary’s proactive inclusion of staking in its initial application is rare. Typically, firms wait to gain approval for holding spot tokens before requesting permission to stake. For instance, ETFs tracking Ethereum have been waiting for regulatory clarity on staking well after securing approval to hold the asset itself. SEC Lawsuit Still Looms Over Tron Founder The filing does come with its share of controversy. In March 2023, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Tron founder Justin Sun , accusing him of artificially pumping the prices of TRX and BitTorrent’s BTT token. Notably, both parties have since agreed to pause the proceedings as they explore a potential settlement. Still, the legal cloud adds an element of uncertainty that could influence regulatory decisions on the proposed fund. Despite the legal scrutiny, the ETF filing reflects a growing willingness among asset managers to experiment with newer and less conventional tokens. Since the beginning of 2024, Canary has been aggressively expanding its crypto ETF ambitions , seeking approval for products tied to a variety of altcoins including Litecoin, XRP, Hedera, and even niche tokens like Pengu (PENGU) and Axelar (AXL). Investor Caution Lingers Over Non-Core Crypto ETFs However, not everyone is convinced this trend will gain serious traction. Some analysts believe the flood of altcoin ETF proposals may struggle to gain meaningful assets under management. “Most crypto ETFs will fail to attract AUM and cost issuers money,” warned Alex Krüger, a well-known crypto economist, in a recent post on X. Still, Canary’s TRX ETF proposal could be a litmus test for how far the SEC is willing to go in recognizing altcoin-based investment vehicles—especially those aiming to unlock additional value through staking. The post Canary Capital Seeks Approval for First-Ever Staked TRX ETF appeared first on TheCoinrise.com . Crypto Potato
Telegram Founder Slams ‘Misinformation’ as France Quietly Starts Playing by EU Rules
Telegram is firing back with force, slamming false claims and exposing how French authorities only recently started playing by EU rules after misreporting its compliance. Durov Calls out Misinformation as French Police Only Followed EU Law After His Arrest Telegram founder Pavel Durov pushed back against a media narrative on Thursday, criticizing a French report Crypto Potato
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