• Wealthcamp
  • Posts
  • Bitcoin Reserve Race Heats Up - Which U.S. State Will Win?

Bitcoin Reserve Race Heats Up - Which U.S. State Will Win?

Meanwhile mobile crypto adoption skyrockets, the AI race intensifies, and the Fed holds steady.

Author

Austin Hodge
January 30, 2025 • Read Time: 12 minutes

The Bitcoin reserve movement is gaining serious momentum among states across the U.S., with Kentucky and Illinois becoming the 13th and 14th states to jump on board. Illinois has officially filed its Bitcoin Reserve Act, mandating a five-year holding period, while Kentucky is expected to introduce a similar bill soon.

Meanwhile, states like Texas, Pennsylvania, Utah, and Arizona are already pushing forward with legislation to strategically invest public funds in Bitcoin. With more states exploring crypto-friendly policies, the race to establish state-level Bitcoin reserves is heating up fast!

And we haven’t even reached the end of January yet - Let's dive in!

  • Illinois and Kentucky among the latest states to introduce legislation for creating a state-level bitcoin reserve - Read More

  • Fed holds rates steady, bitcoin and stocks react, yields diverge, Powell defends inflation stance. — Read More

  • Powell encourages banks to engage with crypto clients if they understand risks and dismisses “debanking,” sparking optimism in the crypto industry. — Read More

  • A record 36 million crypto mobile wallets illustrate growing adoption, fueled by stablecoin popularity. — Read More

  • BlockFills partners with CoinDesk Indices to offer options on the CoinDesk 20 Index, appealing to institutional investors. — Read More

  • Berachain's novel proof-of-liquidity blockchain - here's how to prepare for the upcoming launch. — Read More

  • NOWPayments introduces a no-code tool for easy website crypto payments, supporting 300+ digital currencies. — Read More

  • Trump Media launches crypto platform Truth.Fi, sparking conflict of interest concerns. — Read More

  • TRIV unveils crypto futures trading in Indonesia with regulatory partnerships and leverage up to 25x. — Read More

  • Coinbase appoints Trump's co-campaign manager Chris LaCivita to its Global Advisory Council, enhancing its influence in crypto policy discussions. — Read More

  • Crypto.com is delisting Tether (USDT) and other assets in the EU to comply with MiCA regulations, affecting trading and withdrawal from 2025. — Read More

  • Crypto data firm Kaiko receives investment from Uggla Family Office, signaling confidence in its institutional growth strategy. — Read More

US States Compete for Bitcoin Reserves

Several US states propose creating Bitcoin reserves, reflecting rising support for digital assets.

Bitcoin's Crucial Ties to Global Liquidity Trends

M2 money supply hits $97T, influencing Bitcoin market dynamics and investor strategies.

Bitcoin's Cycle Challenged by Trump's Crypto Order

Trump’s executive order may extend Bitcoin's bull market, disrupting its traditional four-year cycle.

El Salvador Modifies Bitcoin Laws for $1.4 Billion IMF Loan

El Salvador revises Bitcoin policies to secure a crucial $1.4 billion IMF loan, allowing voluntary use and restricting tax payments to USD.

Bitcoin ETFs Struggle Amidst Fed's Steady Rates

Bitcoin ETF inflows remained weak as the Fed maintained interest rates, dampening investor sentiment.

Bitcoin Surges Past $105K After Fed Decision

Bitcoin climbs above $105K post-Fed meeting, with LINK soaring 7%, crypto market adds $100B in a day.

Bitcoin Set for Further Gains Says Analyst

Analyst predicts BTC could hit $184,000 backed by solid metrics before a downturn.

Tesla Boosted by Rule Changes in Bitcoin Accounting

Tesla reports $600M gain due to new crypto accounting rules, stock rises despite earnings miss.

Ethereum's Pectra Hard Fork Aims to Enhance Scaling

Response to roadmap criticism, Ethereum's Pectra upgrade will partly address scaling with increased data blobs and smart accounts.

ABN AMRO's Ethereum Trading Pilot with 21X

ABN AMRO completes tokenized trading trial on Ethereum with German exchange 21X.

Ethereum's Bullish Transformation Post-Leadership Shift

Ethereum ecosystem revitalized with structural tailwinds, banks eyeing ETH custody.

Litecoin Leads Crypto Rally Post-Fed Update

Litecoin surges 11% after SEC acknowledges ETF proposal, aiming for higher bullish momentum, while Bitcoin and Ethereum hold gains post-Fed commentary.

Avalanche Upgrade Cuts Fees, Boosts Transactions by a Third

Avalanche9000 slashes gas fees by 75%, boosts transactions by 38%.

Abstract's Tepid Launch Despite Enticing Incentives

Pudgy Penguins' Abstract rolls out with limited success, securing merely $33M TVS and native token PENGU struggles, down 41% in a week.

Cardano Activates Plomin Upgrade

Cardano's Plomin upgrade enables decentralized governance, shifting control to token holders.

Ripple CEO Lauds New Treasury Secretary's Crypto-Friendly Approach

Ripple CEO confident in pro-crypto, pro-tech agenda of the new Treasury Secretary.

Cardano Unveils Major Lace Wallet Updates

Hoskinson announces rapid updates for Lace wallet, new features include Bitcoin integration, Firefox support, and dapp Explorer.

Howard Lutnick Defends Tether, Advocates for Stablecoin Audits

Howard Lutnick endorses stablecoin audits during Senate hearing, defending Tether amid ongoing scrutiny.

Phantom Wallet Adds Sui Blockchain Support

Phantom Wallet integrates Sui, the Move-powered blockchain, alongside Solana, Bitcoin, and Ethereum.

Sui Blockchain Launches on Phantom Wallet

Sui launches on Phantom Wallet, expanding access to 15 million users, achieving $2B TVL milestone.

ALGO Stabilizes at Crucial Support Amid Bullish Signals

ALGO stabilizes at key Fibonacci support, eyes potential breakout above $0.416.

Nassim Taleb Predicts AI Bubble Collapse

Nassim Taleb cautions the onset of an AI bubble burst, predicting downfall.

SoftBank's $25 Billion Bet on OpenAI Surpasses Microsoft

SoftBank aims to invest up to $25 billion in OpenAI, potentially surpassing Microsoft's stake as the Japanese conglomerate's largest AI involvement yet.

DeepSeek Sparks Global Discontent Over AI Practices

OpenAI, U.S., and Italy accuse DeepSeek of rule-breaking, IP theft, and market manipulation.

DeepSeek Disrupts AI World with Low-Cost Model

DeepSeek challenges big tech with its cost-effective AI model, raising privacy concerns and potential geopolitical implications.

Alibaba Rolls Out Advanced AI Model Qwen 2.5-Max

Alibaba releases Qwen 2.5-Max AI model, claiming superior performance over rivals like DeepSeek and ChatGPT.

iDEGEN Presale Surges Past $18.5 Million

AI meme coin iDEGEN's presale surpasses $18.5M, signaling potential for massive 2025 gains.

Gensler Returns to MIT to Focus on AI and Fintech

Former SEC Chair Gary Gensler returns to MIT to explore AI's role in finance alongside Nobel laureates, despite criticism.

B3 Gaming Chain's Token Launch on Base

B3 Gaming Chain, built on Ethereum's Base, unveils new token to power its gaming ecosystem.

Texas Prioritizes Bitcoin Reserve for 2025 Legislation

Texas looks to establish a Bitcoin reserve by 2025, joining other states in the digital economy race.

Utah House Advances Digital Asset Investment Bill

Utah House committee approves bill for public fund investment in digital assets, broadening financial horizons.

BKEX Staff Jailed for Illegal Crypto Gambling

BKEX employees were sentenced for running illegal gambling on crypto contracts in China, violating national bans.

T3 Collaboration Busts European Crypto Crime Syndicate

Spanish authorities credit T3 consortium for $26.4M takedown of European crypto laundering syndicate.

Czech National Bank Eyes Bitcoin Reserves

Czech National Bank considers investing 5% of reserves in Bitcoin, positioning it as a Western central banking pioneer in digital assets.

Binance Under French Investigation

French authorities probe Binance for alleged money laundering and fraud, sparking industry concerns.

Norway’s Wealth Fund Surges Bitcoin Exposure

Norway’s sovereign wealth fund hikes indirect Bitcoin exposure by 153% in 2024, reflecting the crypto’s slip into diversified portfolios.

Coinbase Earns Regulatory Approval in Argentina

Coinbase secures VASP registration in Argentina, solidifying its expansion in a crypto-driven market.

Gemini Shuns MIT Due to Gensler's Academic Comeback

Gemini ceases hiring from MIT, citing Gary Gensler's return to academia as a dealbreaker.

Thailand Considers Stablecoins with Bond Backing

Thailand's finance ministry is exploring stablecoins backed by government bonds, but no official confirmation yet.

SEC Accepts Litecoin ETF Filing by Canary Capital

SEC acknowledges Canary Capital's pioneering spot Litecoin ETF application, locking a 240-day decision deadline.

Worldcoin Defies Brazil Ban in São Paulo

Tools for Humanity continues operating in São Paulo, offering crypto for biometric data despite legal prohibitions.