Citigroup has released a new report warning that the rapid development of quantum computing could become a future challenge for Bitcoin and the wider cryptocurrency market.

According to analysts at Citigroup, quantum computing technology is advancing faster than many experts previously expected.

The bank believes these developments may eventually threaten the encryption systems that help secure digital assets like Bitcoin.

The report explained that large-scale quantum attacks are not considered an immediate danger today.

However, researchers and investors are being encouraged to monitor the situation more closely as progress in the field continues.

Citi analyst Alex Saunders noted that while the risk is still viewed as a medium-term concern, the timeline may be shortening due to accelerating technological breakthroughs in quantum computing.

This is not any financial advice.

The criminal cases connected to Celsius Network’s 2022 collapse have officially come to an end.

Court records from the US District Court for the Southern District of New York confirmed on Thursday that the cases involving former Celsius CEO Alex Mashinsky and ex-chief revenue officer Roni Cohen-Pavon are now closed.

The development follows the recent sentencing of Cohen-Pavon, who received time served after cooperating with investigators.

US authorities stated that he provided substantial assistance during the legal proceedings.

Meanwhile, Mashinsky previously pleaded guilty to fraud and market manipulation charges and was sentenced to 12 years in prison.

This is not any financial advice.