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Vy Capital disclosed that it holds $40 billion in SpaceX shares, becoming the fifth largest shareholder

According to the Financial Times, the low-profile venture capital firm Vy Capital currently holds approximately $40 billion worth of SpaceX shares, with a stake of about 3.4%. According to Bloomberg data, the firm has become the fifth-largest shareholder of SpaceX, disclosing a holding size larger than that of Silicon Valley venture capital firms such as Sequoia Capital and Andreessen Horowitz. Vy Capital first invested in SpaceX in 2016 when the company's valuation was around $15 billion; after SpaceX went public this year with a valuation of about $1.75 trillion, the value of its holdings has significantly increased.Vy Capital is also the largest external investor in Elon Musk's tunnel company The Boring Company and brain-computer interface company Neuralink, and had committed $700 million for Musk's acquisition of Twitter in 2022. The firm's head, John Hering, has a close relationship with Musk, having invested over $100 million in SpaceX shortly after the Falcon 9 rocket launch failure in 2016; since 2019, he has also been involved in the early business development of Starlink, including hiring personnel and building financial models, and has held a SpaceX employee badge. Currently, Hering serves as a director of The Boring Company, and Vy Capital also participated in the company's recent $3 billion financing round.Vy Capital's assets under management have increased from $27 billion at the end of last year to $50 billion in June of this year. In a letter to investors, the firm stated that since its establishment in 2014, it has achieved a total internal rate of return of 41% and has distributed $4.6 billion to investors. Vy Capital expects that if investment judgments materialize, SpaceX's valuation will exceed $10 trillion in the next 5 to 7 years. The firm currently has only a few dozen employees, with a core investment team of four, and has stopped accepting external investors since last year.

Coinbase accelerates the promotion of Bitcoin anti-quantum measures: multiple parties discuss future asset migration plans

Coinbase announced that it has collaborated with Stanford University cryptography professor Dan Boneh and Localhost Research to hold a closed-door "Post-Quantum Bitcoin Workshop" at Stanford University, gathering Bitcoin developers, cryptography experts, researchers, institutional custodians, and hardware wallet specialists to discuss the technologies and migration plans for Bitcoin to address future quantum computing threats.The workshop focused on assessing the progress of quantum computing, post-quantum cryptography, and various post-quantum signature schemes applicable to Bitcoin, as well as discussing Ethereum's anti-quantum planning, the practical requirements faced by institutional custody businesses, and how to introduce post-quantum security mechanisms for Bitcoin through new output types. Participants believed that rather than predicting when quantum computing will pose a real threat to existing cryptographic systems, it is more important to establish well-tested response plans in advance.Quantum computing does not currently pose an urgent crisis, but the earlier research and coordination begin, the better we can avoid hasty network upgrades and asset migrations under pressure in the future. However, there is currently no consensus on a single post-quantum solution. Different solutions involve trade-offs in terms of security, transaction data size, hardware performance, key management, and the difficulty of user migration. Participants felt that Bitcoin's anti-quantum measures cannot rely solely on protocol layer upgrades, but must also consider how individual users, institutional custodians, wallets, and hardware devices generate, store, back up, and migrate keys and assets.
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