BlackRock’s Bitcoin ETF (IBIT) has been the undisputed leader in the US Bitcoin ETF market, attracting significant inflows and driving market sentiment. On Tuesday, November 12th, IBIT recorded inflows exceeding $750 million, bringing its total inflows to nearly $29 billion since its launch just 10 months ago. This impressive growth has solidified IBIT’s position as a major player in the crypto industry, dwarfing its competitors like Fidelity’s FBTC.
The Bitcoin Industrial Complex Heats Up
The influx of capital into IBIT has contributed to the overall surge in trading volumes within the “Bitcoin Industrial Complex,” which encompasses ETFs, stocks like MicroStrategy (MSTR), and Coinbase (COIN), and, of course, Bitcoin itself. On Tuesday, the complex witnessed a staggering $30 billion in trading volume, highlighting the intense interest and activity surrounding Bitcoin and its related assets.
Market analysts are increasingly optimistic about Bitcoin’s price trajectory, with many predicting a potential rally to $100,000 by the end of November. The recent inflows into IBIT, fueled by positive market sentiment and institutional adoption, are seen as a significant catalyst for this bullish outlook.
As Bitcoin ETFs continue to attract institutional investors, they are playing a crucial role in driving the price of Bitcoin higher. With IBIT’s rapid growth and the overall momentum in the market, the $100,000 milestone may be within reach sooner than expected.
BlackRock’s IBIT has not only attracted significant inflows but has also played a pivotal role in accelerating institutional adoption of Bitcoin. By offering a regulated and accessible investment vehicle, IBIT has lowered the barriers for traditional investors to participate in the crypto market. As more institutions recognize the potential of Bitcoin as a store of value and a hedge against inflation, the demand for Bitcoin ETFs is likely to continue to grow, further bolstering the digital asset’s price.
Rapid quantum computing breakthroughs intensify fears over Bitcoin’s security, with some experts now believing Q-Day could arrive much sooner than previously thought.
David Carvalho, CEO of Naoris Protocol, warns that quantum computers may break highly secure algorithms in two to three years, finding Bitcoin and other cryptocurrencies alarmingly underprepared.
Global Quantum Race Accelerates
The quantum sector is advancing at an astonishing pace. Governments and private companies increasingly invest enormous sums to speed up the next big technological breakthrough.
On Thursday, the South Korean government revealed its plan to invest about 650 billion won—more than $480 million—over the next eight years. This funding will bolster the country’s quantum technology capabilities, including high-performance computers.
Three days earlier, the United Kingdom announced it would commit over $921 million to speed up the application of quantum technology in various sectors, from energy to healthcare.
The UK government is committing over £500 million to quantum computing, a strategic investment aimed at enhancing national security and economic resilience.
This funding bolsters previous initiatives, including the establishment of regional research hubs and the National…
Such investments reflect a global phenomenon. A Q1 2025 report by The Quantum Insider revealed a remarkable 125% surge in quantum technology investments compared to a year earlier, surpassing $1.25 billion.
Meanwhile, the technology itself is also quickly becoming more sophisticated.
The Quantum Threat to Modern Encryption
Current encryption, like RSA, relies on unsolvable mathematical problems for classical supercomputers. Specifically, RSA-2048, a 2048-bit standard securing vast online data, derives strength from the near impossibility of factoring its massive prime numbers.
Qubits, however, enable quantum algorithms like Shor’s algorithm to factor large numbers efficiently, solving these “hard” problems exponentially faster.
Just last month, Google Quantum AI estimated that RSA-2048 could be broken in less than a week with under one million qubits, sharply accelerating its threat timeline.
Quantum Computers Could Break RSA Much Sooner Than Expected
Craig Gidney of Google Quantum AI in Santa Barbara, USA argues that a quantum computer with under one million noisy (not fully error-corrected) qubits could factor a 2048-bit RSA key in roughly a week. This is a… pic.twitter.com/1pe6Bm3YTg
So, how far away are we from seeing a quantum computer break an RSA-2048 encryption?
Key Breakthroughs Fuel Quantum Alarm
Last year, a group of Chinese researchers led by Wang Chao from Shanghai University demonstrated a significant advance in quantum cryptanalysis. They used a special type of computer known as a D-Wave quantum annealer to factor a 22-bit RSA key.
This breakthrough notably surpassed the previous 19-bit key limit, demonstrating quantum annealing systems’ scalability beyond earlier known boundaries as cryptanalytic methods continue to improve.
Carvalho highlighted the urgency of these advancements to BeInCrypto:
“This encryption in itself isn’t the most secure, but what’s terrifying is the speed at which they have progressed from 19-bit to 22-bit encryption. It’s clearly only a matter of time until quantum computers can break highly secure algorithms, and that time is quickly running out. It’s complacent to assume we even have five years left before RSA encryption can be broken – it’s more like 24-36 months,” said David Carvalho, CEO of Naoris Protocol.
He isn’t alone in stressing its imminence.
Leaders Urge for Preparedness
University of Waterloo expert Michele Mosca previously predicted a one-in-seven chance that fundamental public-key cryptography could be broken by 2026. Major tech and banking entities, including IBM, Microsoft, and SWIFT, now urgently advise organizations to plan their post-quantum cryptography transition.
“Every single day this is delayed, cybercriminals are getting closer to hacking every system that matters, and once hacked, what’s lost can never be recovered. It’s getting far too close for comfort now,” Carvalho stressed.
Yet, how immediate is this threat in practical terms? What do we truly need to break the encryption?
Separating Hype from Reality
While breakthroughs like factoring a 22-bit RSA key are certainly significant advancements, they must be put into perspective.
A 22-bit key, though an increase from 19 bits, differs vastly from breaking RSA-2048. The jump isn’t linear; it’s an exponential increase in complexity that demands many more qubits and vastly improved error correction.
Breaking RSA-2048 on a practical timeline requires a Cryptographically Relevant Quantum Computer (CRQC).
Such a machine, capable of running Shor’s algorithm with sufficient fault tolerance and sustained operation over days, remains a monumental obstacle. Many experts project its arrival in the late 2030s or beyond.
Nonetheless, the accelerating pace of quantum breakthroughs demands immediate, proactive planning to safeguard Bitcoin’s future security against an inevitable –albeit uncertain– Q-Day.
The Middle East and North Africa (MENA) region is quickly becoming a notable force in the push for global crypto adoption. With growing participation from institutions and enterprises and supportive regulations for Web3 technology, MENA is set to expand its impact.
BeInCrypto interviewed Stephan Apel, CEO of Outlier Ventures, to explore the characteristics of these tech-driven economies and their anticipated innovations.
Web3 Adoption and Market Growth
MENA has emerged as a significant center for Web3 development, facilitated by a combination of demographic, technological, and cultural factors. The region’s entrepreneurial spirit has also fostered an environment conducive to the adoption of decentralized technologies.
“The MENA market has set a standard for adopting next-gen technologies and using them to boost their economic transformation. This is especially true for Web3 technologies— the region recognised their potential early on, offering the resources needed for these projects to scale and thrive on both regional and global levels,” Apel told BeInCrypto.
Consequently, the region is witnessing an increase in startups, investors, and developers exploring Web3 and its diverse applications.
A 2024 Chainalysis report revealed that MENA was the seventh biggest crypto market worldwide. From July 2023 to June 2024, the region saw $338.7 billion in online crypto transactions, representing 7.5% of all crypto transactions globally.
Share of all cryptocurrency transaction value by region. Source: Chainalysis.
Notably, Turkey and Morocco ranked among the top 30 countries globally in crypto adoption. Turkey secured the 11th spot, while Morocco ranked 27th. These nations alone accounted for $137 billion and $12.7 billion in received cryptocurrency value, respectively.
Furthermore, the MENA region’s crypto activity is predominantly driven by institutional and professional players, as a substantial 93% of all value transferred involves transactions exceeding $10,000.
Meanwhile, Gulf Corporation Council (GCC) members have distinguished themselves through their ambitious technological initiatives.
MENA’s Strategic Shift Towards AI
The onset of artificial intelligence (AI) has prompted governments and businesses within the Middle East to acknowledge the global trend towards related advanced technologies. Countries like Qatar, Saudi Arabia, and the United Arab Emirates (UAE) are considering their strategic position concerning this technological transformation.
According to a report by PricewaterhouseCoopers (PwC), AI could contribute up to $15.7 trillion to the global economy in 2030. The consulting firm predicts that the Middle East will bring 2% of the total global benefits, equal to $320 billion.
MENA’s pioneering role in AI development. Source: PwC.
The PwC report also indicates that Saudi Arabia will see the largest absolute gains from AI by 2030, with an estimated US$135.2 billion added to its economy, or 12.4% of GDP. In terms of GDP percentage, however, the UAE is expected to see the greatest impact, approaching 14% of its 2030 GDP. Meanwhile, for GCC states Bahrain, Kuwait, Oman, and Qatar, AI is expected to contribute 8.2% of their GDP.
Given the region’s latest initiatives and investments in AI innovation, these numbers come as no surprise.
Saudi Arabia’s AI Development Initiatives
In 2016, the Saudi Arabian government launched Vision 2030, a program to promote economic, social, and cultural diversification. Integral to this vision is a strategic shift towards artificial intelligence and data-driven innovation, a key component of the nation’s economic diversification efforts.
Saudi Arabia is making notable advancements in AI. The country aims to reduce its reliance on oil by developing advanced technology sectors through targeted investments, infrastructure development, and workforce training.
“Fueled by its Vision 2030 initiative, Saudi Arabia has already created a thriving startup ecosystem, dedicated significant investment in emerging technologies,and designed policies to attract global talent and entrepreneurship,” Apel told BeInCrypto.
The Saudi Data and Artificial Intelligence Authority (SDAIA) spearheads Saudi Arabia’s push into artificial intelligence, shaping and implementing the country’s national data and AI strategy. The National Data Bank is a cornerstone of their efforts. It is designed as a central hub for data access and analysis, facilitating AI applications across public and private sectors.
Last November, Saudi Arabia also unveiled Project Transcendence. The $100 billion investment initiative focuses on accelerating the integration of AI and advanced technologies.
Similar to its neighbor, the UAE has actively pursued AI adoption.
UAE’s AI Strategy and Investments
In 2017, the UAE launched its National Strategy for Artificial Intelligence, which aims to make the country a global leader in the field by 2031. The UAE AI and Blockchain Council oversees this strategy, which impacts sectors like education, energy, and tourism.
The UAE is already reaping the benefits of its AI initiatives. In April, Microsoft announced a $1.5 billion investment in G42, an Abu Dhabi-based technology holding company. G42 is known for its data centers and the development of Jais, a leading Arabic-language AI model.
In September, G42 and Nvidia partnered to create AI-driven solutions for improved weather forecasting. The collaboration aims to advance climate-related technologies by using Nvidia’s Earth-2 platform, which enables AI-augmented climate and weather simulations.
Three months later, Abu Dhabi-based global technological ecosystem Hub71 partnered with Google to boost startup growth in the UAE. This collaboration will bring Google’s “Google for Startups” program to Abu Dhabi, including a dedicated accelerator for Hub71 startups in 2025.
He also drew attention to the planned convergence of AI and Web3 technologies in these prominent regions.
Convergence of AI, Web3, and IoT
Integrating the Internet of Things (IoT), blockchain, and AI technologies is gaining traction among businesses in the Middle East. By combining these technologies, organizations can access new avenues for growth, increase efficiency, and create novel user experiences.
In 2018, the Dubai Airport Freezone Authority launched Dubai Blink, a platform that integrates AI, blockchain, and virtual licenses to facilitate global trade. This system enhances supply chain innovation through ‘smart commerce’ by expediting trade with a unified online platform. Furthermore, it addressed the cumbersome process of supplier identification by using AI algorithms to streamline and accelerate the validation process.
Ultimately, MENA’s proactive approach to technological advancement, coupled with its strategic focus on Web3 and AI, signals a future where the region will be a pivotal architect in shaping the digital economy.
A little-known meme coin called Kekius Maximus saw a dramatic price surge on Friday, gaining over 120% within hours. The sudden rally followed Elon Musk’s update to his X (formerly Twitter) profile.
Musk’s name change on X often follows up with these speculative pumps, but certain reg flags on KEKIUS are fueling notable concerns.
Kekius Maximus Keeps Pumping
Musk adopted the name “Kekius Maximus” on his X account and changed his avatar to an AI-generated image of himself in gladiator-style armor.
This led to renewed interest in the coin, which had largely gone unnoticed in recent months.
According to CoinGecko data, the digital asset spiked from obscurity to a four-month high of $0.06. This is far below its all-time peak of $0.4011, set during a similar Musk-induced meme moment in January.
Kekius Maximus Price Performance. Source: Coingecko
Meanwhile, the current spike pushed Kekius Maximus’ market cap to roughly $57 million, which is also well off its previous high of $181 million.
The token’s branding draws on the Pepe the Frog meme and the iconic Maximus character from the film Gladiator. This combination aligns with Musk’s rebrand and appeals to his meme-savvy audience.
Musk has not acknowledged the coin or suggested any direct involvement despite the token’s meteoric rise.
Still, his history of influencing crypto markets through subtle or playful social media gestures is well established. This is evidenced in his past endorsements of Dogecoin, which have trained investors to react quickly to any signal, even if indirect.
Even without a formal endorsement, a simple reference or image change can trigger a wave of FOMO-driven buying among investors.
Prior to this event, Kekius Maximus had shown little movement or trading volume. Musk’s rebrand appears to have injected new life into the project, albeit temporarily. History suggests that similar meme-driven pumps often retrace once the hype subsides.
Scam Kekius Maximus Token Concentration. Source: X/Nova
Meanwhile, malicious actors appear to be capitalizing on the project’s hype. Crypto analysts highlighted one Kekius-themed project whose team held 99% of the supply and looked to dump it on the community.
“$KEKIUS (CA 6m51rC2jRZkrtQkNNP4sXrSTE6Yq76F9huA8MYRtpump) is a blatant obvious scam, don’t buy this garbage…they have 99% of the supply,” the analyst wrote.
