Vitalik Buterin, Ethereum’s co-founder, warned that Ethereum’s core cryptography could break before the 2028 U.S. election due to advances in quantum computing. In the same news cycle, Ray Dalio went on CNBC saying quantum is one of the core reasons Bitcoin won’t become a global reserve asset. [NEWS]

Why it matters: The global crypto market cap sits at $2.93T, and every dollar of it relies on cryptography that quantum computers could eventually break.

Here’s what it means – and what most still don’t get.

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What happened

At Devconnect, Vitalik said Ethereum must upgrade to quantum-resistant cryptography within 4 years, citing the risk from CRQCs — “cryptographically relevant quantum computers.” He put a 20% probability on quantum computers capable of breaking modern cryptography arriving before 2030.

Ray Dalio, meanwhile, told CNBC:

“Bitcoin can be tracked… and could, conceivably with quantum computing, be controlled or hacked.”