A group of nine companies has formed the Bitcoin Security Consortium, a new initiative aimed at supporting the long-term security of the Bitcoin network through funding for developers, security research, and post-quantum cryptography efforts.
The founding members include Strategy, BlackRock, Coinbase, Galaxy, Fidelity Digital Assets, Anchorage Digital, ARK Invest, Block, and Blockstream, representing Bitcoin holders, custodians, exchanges, infrastructure providers, payments companies, and asset managers.
The consortium's day-to-day activities will be coordinated by Brink Executive Director Mike Schmidt in a volunteer capacity, Strategy said in a statement on Thursday.
According to the statement, founding members have collectively pledged $15 million over the next three years to support developers and researchers already working on Bitcoin security.
Each member firm will direct its own capital independently to the organizations it chooses.
