US Commerce Department Backs Quantum Startups With $2 Billion as Bitcoin Security Risks Rise

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The Commerce Department announced more than $2 billion for quantum computing companies, including $1 billion tied to IBM's proposed New York wafer foundry. IBM said it would add another $1 billion in cash, intellectual property, manufacturing assets, and personnel to the proposal. Project Eleven warned that a machine capable of breaking the elliptic curve cryptography used by Bitcoin and Ethereum could arrive as early as 2030.
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