BNB falls below the $650 mark

According to Caixin News Agency, International Business Machines Corporation (IBM) announced this week that it plans to launch a practical large-scale fault-tolerant quantum computer by 2029 and elaborated on the company's roadmap to achieve this goal. IBM has stated that it plans to have a larger scale quantum computing system by 2029. The company will build a quantum computer called "Starling" in its data center in Poughkeepsie, New York, and says it will have approximately 200 logical qubits. It is expected that the computing power will reach 20000 times that of existing quantum computers, supporting users to explore complex quantum states far beyond the limitations of current devices. Quantum bits are the fundamental unit of quantum computing, and 200 quantum bits are enough to begin demonstrating advantages over classical computers. Jay Gambetta, Vice President of Quantum Business at IBM, claims that IBM's confidence in its 2029 roadmap stems from two recent advances: further progress in a new method of reducing errors, known as qLDPC error correcting codes, and the use of traditional computing techniques for real-time identification and correction of errors. Gartner analyst Chirag Dekate commented that it is currently unclear how IBM's breakthrough will "translate into tangible business value," and the transformative potential of fault-tolerant quantum computers is still under speculation. IBM's plan also did not provide detailed information on the commercial availability of its new quantum computer, as well as the specific date for the release of its error correction system. Related reading: Quantum key crisis: Bitcoin faces $42 billion countdown to 'big reckoning'

Odaily Planet Daily News: According to @ EmberCN monitoring, trader AguilaTrades opened a Bitcoin long position again this morning. Currently, they have established a 20 fold leverage long position, holding 1894 BTC with a value of about $200 million. The opening price is $104976, the liquidation price is $97265, and the current floating profit is about $910000. Previously, he opened a BTC long position on June 9th and closed it with a stop loss on June 13th, resulting in a loss of $12.48 million. After two days of rest, enter again.

According to Decrypt, a survey conducted by Reuters in collaboration with blockchain analysis companies Global Ledger and Recoveris shows that Russian intelligence agencies have been using Bitcoin to pay untrained teenage spies. A Reuters report provides a detailed account of the recent case of Canadian citizen Laken Pavan. Pawan was sentenced to 20 months in prison after admitting to assisting Russian intelligence agencies in Poland in December last year. Recoveris stated that the Russian Federal Security Service (FSB) and Military Intelligence Agency (GRU) have repeatedly used cryptocurrency to fund young people in Poland for tasks such as surveillance, graffiti, and arson, with some funds used to hire mercenaries in the Donbass region and bribe European politicians. The advantage of using Bitcoin or cryptocurrency to pay for agents or assets is that any amount of cryptocurrency (even millions of dollars) can be instantly transferred globally without any government barriers, except for a gateway from cryptocurrency to fiat currency. In addition, Russian intelligence agencies can also fully utilize the transparency brought by cryptocurrency. Handling personnel and senior intelligence officials can monitor the flow of cryptocurrency. Any expenditure of agents can be audited to ensure that it is used for operational purposes. Given the ongoing sanctions restrictions, such encrypted payments are expected to continue, and transparency allows the Russian side to monitor the use of funds.

According to CrowdfundInsider, outgoing Financial Stability Board (FSB) Chairman Klaas Knot has issued a stern warning that the cryptocurrency market may be approaching a "tipping point" that could pose systemic risks to the global financial system. "The issuer of stable currency currently holds a large number of US treasury bond bonds. We must pay close attention to this area," he said. The threshold for retail users has been significantly lowered, especially after the launch of cryptocurrency ETFs. The connection with the traditional financial system continues to strengthen. ”Knot emphasized the necessity of proactive regulation, stating, "The crypto ecosystem will continue to develop, and our regulatory framework must do the same

1. Brazil imposes a unified tax of 17.5% on cryptocurrency profits and cancels the small tax exemption policy 2. Echo Protocol wallet attacked, resulting in a loss of over $266 million, and withdrawals are temporarily suspended 3. ConsenSys founder Joseph Lubin confirms LINEA will be the first to launch tokens 4. Coinbase warns businesses that leveraged purchases of cryptocurrencies may pose systemic risks 5. Bitdeer announces that its Bitcoin holdings have exceeded 1400 and continues to increase its holdings 6. Ant, Xiaomi and other companies actively participate in the layout of stablecoins and explore cross-border payment applications 7. Hong Kong officials encourage exploration of virtual asset technology and innovative applications 8. Musk denies rumors of drug use, responds by saying 'I didn't use drugs' The above is a selection of hot topics from the past 24 hours. Click to see the full article: https://www.aicoin.com/article/465830