News

Odaily Planet Daily reports that the Texas Strategic Bitcoin Reserve Bill has recently been read and submitted to the Senate Finance Committee for review. The Senate Bill No. 778, proposed by Senator Charles Schwertner, suggests establishing a state-controlled bitcoin reserve as a financial guarantee and enhancing Texas's role in digital asset innovation. According to the proposed legislation, the reserve aims to achieve two key purposes: (1) The state can own and hold bitcoin as a financial asset; (2) Individuals (including residents of the state) can donate bitcoins to the state and deposit them into reserves, promoting shared ownership of the state's financial future and community investment. The bill sets strict security and management guidelines for Bitcoin reserves. The Texas State Auditor's Office will oversee its management, ensuring safe custody and appropriate storage measures. The bill stipulates that "the auditor should keep all Bitcoins held in reserve," emphasizing the state's responsibility in protecting assets. A cold storage solution will be implemented to prevent unauthorized access, with regular audits conducted for transparency.

Golden Finance reports, Bitwise CEO Hunter Horsley posted on X saying: "Meme coins will exist in the long term. They are not Bitcoin. So what are they? As an analogy, what is a signed baseball? What is merchandise from your favorite band? What is your 'Harvard' branded hat? What are limited edition gold coins? They are culturally rich collectibles. In terms of Meme coins: they have been tokenized, creating a liquid global market. It's not Bitcoin or crypto assets, but something else. And it will exist for a long time."