ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack

The Bankless Weekly Rollup dives into a series of high-stakes developments across crypto and geopolitics. Google's release of a groundbreaking quantum computing paper has sent shockwaves through the industry, revealing a 20x improvement in Shor's algorithm that could enable quantum computers to crack Bitcoin and Ethereum's ECDSA signatures with just 500,000 physical qubits—potentially within minutes if the hardware exists. The paper, co-authored with Justin Drake, urges immediate migration to post-quantum cryptography by 2029, highlighting existential risks, especially for Bitcoin’s dormant 2.3 million coins. Meanwhile, Trump’s 19-minute speech on Iran war strategy signaled a three-week extension of Operation Epic Fury, triggering a 10% spike in oil prices and market volatility, though equities largely shrugged off the news. On the DeFi front, the $285 million Drift hack on Solana exposed critical flaws in multi-sig governance and the absence of time locks, reigniting debates over centralized admin keys in supposedly decentralized protocols. In Ethereum’s ecosystem, the launch of Ethereum Economic Zones (EEZ) offers a promising vision of unified liquidity across L2s, potentially realizing the dream of synchronous composability. Aave V4 also launched, reimagining the protocol as a centralized hub with specialized lending spokes, enhancing risk management and scalability. Finally, X (formerly Twitter) is reportedly building a crypto wallet with talent like Benji Taylor, signaling a broader trend toward financial super apps as crypto wallets evolve into full-service banking tools.