From Foundations to Fortification: Privacy, Security, and the Next Layer of Trust

• Governments are also getting into the fray and there’s been widespread willingness to engage

• The panel highlights the need for advanced cryptographic standards and robust security 

More than USD 3.4 billion of funds have been stolen from the crypto industry last year, holding roughly steady from the previous year, as North Korea and organized hackers ramp up their activities. And this at a time when institutional adoption is also ramping up.Beyond existing threats, quantum computing is also bringing new risks into the space, underscoring the need for cutting-edge security and infrastructure, much of which is not yet ready for evolving vulnerabilities.

“There's a lot of cryptography out there that needs to be upgraded. It isn't an impossible task,” Quantum Innovation’s Tam said, highlighting that the entire industry is predicated upon cryptography, which is critical for digital infrastructure. “We've achieved new milestones in standardization and cryptographic standardization for post-quantum cryptographic algorithms,” he added.

The panel highlighted the significant progress in institutional adoption in 2025, which, from a security perspective, changes the game due to the concept of fiduciary duty. BitGo’s Fang noted that 10 years’ worth of progress has been made in a very short time, thanks to the pivot in the US administration’s view of the space.

“The analogy I use is, at least in the United States, all the windows are open, all the doors are unlocked, all the lights are on,” Fang said. Warren agreed, pointing out that the big change has been in the willingness to engage because not getting involved would suggest being left behind. Ledger’s Badault added that governments are also willing to dip their toes into the space, in a shift from previous years.

The discussion also covered the challenges of concentration risk and the role of government surveillance, stressing the need for differential privacy and market-driven solutions. Warren said she felt the dangers of concentration risk haven’t been discussed loudly enough.