By Kapil Rajyaguru
California, Massachusetts and Wyoming Advance Bitcoin Reserve Plans.
Wyoming and Massachusetts have introduced bills to establish strategic Bitcoin reserves, signaling growing state-level interest in cryptocurrency investments.
Senator Cynthia Lummis is championing a bill in Wyoming that proposes allocating up to 3% of state funds into Bitcoin, citing the benefits of diversification.
Meanwhile, Massachusetts, the first Democratic-led state to consider such legislation, plans to invest up to 10% of its $9 billion rainy day fund in Bitcoin.
Additionally, California is exploring a Bitcoin-focused bill through Assembly Member Phillip Chen’s office, with support from the non-profit Proof of Workforce. The initiative aims to assess Bitcoin’s potential in bolstering state infrastructure and financial resilience.
With at least 15 U.S. states, including Oklahoma and Texas, considering Bitcoin reserves, the trend reflects growing confidence in Bitcoin as a hedge against economic instability.
Donald Trump’s Memecoin Drops 38% As Wife Melania Launches Token.
US President-elect Donald Trump’s controversial memecoin fell 38% as his wife, incoming First Lady Melania Trump, launched a memecoin of her own, which has hit a value of $6 billion within under two hours.
Mrs. Trump, along with her husband, promoted her self-titled memecoin, MELANIA, in a Jan. 19 X post. DEXScreener data shows that over 45,000 wallets have bought the token, which had hit a market cap of $6.14 billion since launching just after 9 pm UTC on Jan. 19.
Meanwhile, Donald Trump’s self-titled TRUMP token saw $5 billion wiped off its market cap, with its price falling 38% from $74.6 to $45.9 in 40 minutes, CoinMarketCap data shows.
World Liberty Financial Splashes $48mn on Ethereum Amid Trump’s Meme Coin Frenzy.
World Liberty Financial (WLF) stunned the crypto world with an eight-hour Ethereum buying spree on Sunday, acquiring 14,403 ETH at an average price of $3,300. The $48 million purchase catapults WLF’s Ethereum holdings to 28,612 ETH, valued at a staggering $109 million.
The Trump family’s high-profile meme coin launches, which have shaken up investor sentiment, fueled a weekend of crypto market buzz that led to this bold move. Data from Arkham Intelligence underscores the scale of WLF’s strategic play, solidifying its position as a major Ethereum whale.
Italian Lawmaker Urges Banking Foundations in Italy to Invest in Bitcoin.
Italian lawmaker Marcello Coppo is encouraging banking foundations in Italy to invest in Bitcoin to potentially garner significant returns.
Despite growing momentum in the U.S., he does not anticipate Italy establishing a strategic Bitcoin reserve soon. Coppo believes these investments could help boost public support for Bitcoin in Italy.
You need to login in order to Like
