The U.S. Commerce Department will invest over $2 billion in nine quantum computing companies, including $1 billion to IBM for a new quantum wafer foundry called Anderon in New York. The investment, part of the CHIPS Act, aims to scale quantum chip production. This comes as researchers warn that quantum computers could break current encryption—known as 'Q-Day'—as early as 2030. Bitcoin, Ethereum, and other systems rely on elliptic curve cryptography that quantum machines may eventually crack, posing a risk to crypto wallets and transactions. The announcement highlights growing urgency to prepare for quantum threats.

Key facts

• US Commerce Dept invests $2B+ in 9 quantum firms, IBM gets $1B for wafer foundry.
• Q-Day, when quantum breaks crypto, could arrive by 2030, researchers warn.
• Bitcoin and Ethereum could face private key theft from future quantum computers.
• Citi warns up to 7M Bitcoin may be in wallets with exposed public keys.

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