By Kapil Rajyaguru
Ohio Senator Introduces State’s Second Bitcoin Reserve Bill.
An Ohio lawmaker has introduced a second bill to allow the state to invest in Bitcoin to create a local reserve of the cryptocurrency.
Ohio Senate Bill 57, referred to the Financial Institutions, Insurance, and Technology Committee on Jan. 29, authorizes the state’s treasurer to invest state funds solely into Bitcoin to create an “Ohio Bitcoin Reserve Fund.” It requires BTC investments to be held for at least five years and mandates secure custody solutions for holding the asset.
The Ohio bill also requires state entities and government agencies to accept crypto for payments, including taxes, fees, fines, and other government charges. It also stipulates that when agencies receive cryptocurrency, they must convert it to Bitcoin and transfer it to the reserve.
US Senator Hagerty Introduces ‘GENIUS’ Stablecoin Bill.
US Senator Bill Hagerty has introduced a bill to create a regulatory framework for stablecoins that would bring tokens such as Tether and USD Coin under Federal Reserve rules.
The Tennesse Republican said in a Feb. 4 statement that the stablecoin bill would create “a safe and pro-growth regulatory framework that will unleash innovation” and advance President Donald Trump’s pledge to make the US the “world capital of crypto.”
The GENIUS stablecoin bill defines stablecoins as digital assets pegged to the US dollar and proposes that issuers with market caps above $10 billion comply with Federal Reserve regulations, while issuers below that threshold would be regulated by the states.
Bitdeer Snaps Up 101-Megawatt Canada Site As Stock Tanks.
Bitdeer has acquired a 101-megawatt site and gas-fired power project in Alberta, Canada, aiming to become a fully vertically integrated Bitcoin miner.
A fully vertically integrated miner would mean Bitdeer maintains control of the important components of its Bitcoin (BTC) mining operations rather than relying on third parties for infrastructure services.
The crypto mining firm said the deal gives it control over land, power generation, electrical and data center infrastructure, as well as its Sealminer A3 mining rigs.
Despite its expanding global footprint and Canada site acquisition, its stock has continued to struggle. Its shares have plunged 27.5% over the past month, including a 4.95% drop on Feb. 4, bucking the broader US market rally on the day.
Ondo Finance, a leading tokenized real-world asset (RWA) issuer, has unveiled a new offering to accelerate the onboarding of traditional assets to blockchain technology.
Ondo on Tuesday introduced Ondo Global Markets (Ondo GM), a platform dedicated to providing onchain access to stocks, bonds, and exchange-traded funds (ETFs).
The specific details regarding which stocks, bonds, and ETFs will be available is not known yet. Ondo, with a market cap of over $600 million, is already the world’s third-largest tokenized Treasury issuer, according to data source rwa.xyz.
El Salvador Buys 12 Bitcoin In A Day, Bringing Reserve To 6,068 BTC.
El Salvador has again stocked up its growing Bitcoin reserve, buying 12 Bitcoin in the last day amid a dip in the crypto markets. The country bought 11 Bitcoin on Feb. 4 for just over $1.1 million, an average price of $101,816 per Bitcoin.
It later purchased an additional 1 BTC for $99,114, according to the government’s Bitcoin Office tracker. It brings the Central American country’s holdings to a total of 6,068 BTC, valued at over $554 million.
Peter Thiel-Backed Bullish Global Considers IPO For Expansion.
Bullish Global, which is a subsidiary of Block.one and counts billionaire Peter Thiel as an investor, is considering an initial public offering Bloomberg reported Tuesday, citing anonymous sources.
The company could launch its IPO as soon as this year, the sources said. Bullish Global develops financial services for the digital assets sector and operates a cryptocurrency trading platform, according to its website.
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