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List of Flash News about State Crypto Reserve

Time Details
2025-06-29
19:55
Texas Approves $10M Bitcoin (BTC) Purchase for State Reserve, Defying Connecticut's Crypto Ban

According to @mcuban, Texas has become the first U.S. state to actively fund a standalone Bitcoin (BTC) reserve, appropriating $10 million for the purchase after Governor Greg Abbott signed the enabling legislation. This bill, HB 4488, also protects the reserve from being swept into general revenue, signaling a strategic shift towards treating BTC as a sovereign financial instrument for long-term holding. This move contrasts sharply with Connecticut, which recently passed a bill unanimously banning any state government entity from purchasing, holding, or investing in virtual currencies. Dennis Porter of the Satoshi Action Fund noted that despite Connecticut's decision, pro-Bitcoin legislation is gaining momentum in other states like North Carolina and Ohio. This state-level activity follows a federal initiative by the Trump administration to establish a national crypto reserve. Current market data shows Bitcoin (BTC) trading around $108,344, reflecting a modest 24-hour gain.

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