Coinbase Quantum Advisory Council: Quantum Computing Could Pose a Threat to Encryption Systems, Industry Must Prepare for Upgrade in Advance
On April 21, Coinbase’s Quantum Computing and Blockchain Independent Advisory Board released its first position paper, assessing the potential impact of quantum computing on the crypto industry in detail.
The report notes that while current quantum computers aren’t powerful enough to threaten mainstream blockchain systems yet, quantum machines capable of breaking encryption are “highly likely” to emerge down the line. The industry expects this to take at least a decade, though an earlier breakthrough can’t be ruled out.
The report stresses that “users’ assets remain largely secure today,” but the real risk centers on wallet-level digital signature mechanisms—not Bitcoin’s underlying structure or hash functions. The board notes roughly 6.9 million BTC could be at higher risk of exposure. By contrast, Ethereum and other proof-of-stake (PoS) networks face extra challenges with validator signature mechanisms but already have a clear migration roadmap.
The report also notes post-qu
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Powell: Fed Needs a Whole New Inflation Strategy
April 21 — Federal Reserve Chair nominee Powell said if appointed to lead the Fed, he would push for comprehensive policy reform.
Testifying before a Senate committee, Powell stated: “In my view, the Fed needs fundamental policy reform. Mistakes in addressing inflation during the COVID-19 pandemic demand such changes — which, I believe, requires a shift in policy implementation and a new, distinct inflation framework.”
He added: “We need new tools and new communication approaches,” citing forward guidance, economic projections and the Fed’s dot plot. He noted the central bank should hold off on issuing statements until meetings, as pre-meeting forecasts would hinder decision-making.
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Powell: Monetary Policy to Remain Independent of Political Factors, Fed Has Lost Its Way
On April 21st, Federal Reserve Chair nominee Jerome Powell told his Senate confirmation hearing that he would make monetary policy decisions independently, without being swayed by any advice or pressure from former President Trump.
He emphasized that maintaining low inflation acts like "body armor," shielding the Fed from criticism. Powell noted the Fed’s independence "depends in large part on the Fed itself"—specifically, on successfully meeting its goals and not exceeding the authority granted by Congress.
Powell added: "Even if government officials—the President, senators, or representatives—voice views on interest rates, monetary policy implementation will not face significant threats to independence. Congress has given the Fed a clear mission: ensure price stability, with no excuses, ambiguity, debate, or hesitation. Inflation is a choice, and the Fed must take responsibility for it. Low inflation is the Fed’s shield."
He also stated the Fed has "lost its way" at times, t
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AI16Z and the creator of ELIZAOS are facing a class action lawsuit alleging false advertising and unfair enrichment
April 21, 2025 — Crypto law firm Burwick Law has filed a federal class-action lawsuit in the U.S. District Court for the Southern District of New York (SDNY) against AI16Z and ELIZAOS creator Walters, along with other defendants, alleging violations of consumer protection laws, false advertising, and unjust enrichment.
Legal filings show the defendants leveraged Andreessen Horowitz (a16z)’s brand reputation to package their project, launching the AI16Z token on the Solana blockchain on October 24, 2024 before rebranding it to ELIZAOS. The complaint claims the project falsely advertised AI agents capable of autonomous investing—but the systems were actually human-operated, and no revenue was generated at the time the lawsuit was filed.
Additional suit details note the token hit an all-time high of roughly $2.47 on January 2, 2025, with a market capitalization exceeding $26 billion, before crashing due to selling by large holders (whales). On-chain data indicates the most profitabl
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