Bitcoin Nears $81K; XRP, ADA Slide as Traders Brace For Tariff War Ahead

According to Bitcoin Magazine, Texas House Bill 4258 (H.B. 4258) was submitted to the Government Efficiency Executive Committee for review today. The bill authorizes state auditors to invest up to $250 million in Bitcoin, and also authorizes municipalities or counties to invest up to $10 million of their funds or funds under their control in Bitcoin and/or other cryptocurrencies. If the bill becomes law, it will take effect on September 1, 2025, leaving time for state and local government officials to develop investment strategies and custody plans. According to Bitcoin Laws, H.B. 4258 is one of the eight currently effective Bitcoin or cryptocurrency related bills submitted to the Texas Senate or State House of Representatives. Among these eight bills, it is the fifth one to enter the committee review stage. Four of the bills (including the current one) will authorize the state to include Bitcoin in its balance sheet in some way. The other three bills - H B. 1598、 Senate Bill (S.B.) 21 and S B. 778- Both call for the establishment of a Strategic Bitcoin Reserve (SBR) in Texas. These three SBR bills have all entered the committee review stage, among which S B. 21 has now entered the second round of deliberation by the committee.

According to Bloomberg, the US Securities and Exchange Commission (SEC) has stated to the federal court in New York that it hopes to "explore potential solutions" to settle its lawsuit against Gemini Trust, a cryptocurrency exchange owned by the Winklevoss twins. The SEC and Gemini Trust jointly requested a 60 day extension of the civil lawsuit on Tuesday. Before Trump's inauguration in January this year, Gemini had agreed to pay $5 million to reach a settlement with the US Commodity Futures Trading Commission (CFTC). SEC sues Gemini in 2023, accusing the exchange of colluding with crypto lending institution Genesis Global Capital through&34; Gemini Earn& 34; The project illegally raised billions of dollars in encrypted assets. Last year, Gemini agreed to return at least $1.1 billion to customers in another settlement with regulatory agencies in New York State. The Trump administration has now withdrawn enforcement actions against multiple cryptocurrency companies.

According to The Block, video game retailer GameStop announced on Tuesday that it has raised $1.5 billion through a private placement of convertible bonds and plans to use the proceeds to purchase Bitcoin. The company's filing with the US Securities and Exchange Commission (SEC) shows that it has completed the issuance of $1.5 billion senior convertible bonds with a maturity of 2030 and a coupon rate of 0.00%, including the underwriters fully exercising $200 million over allotment option. This move is consistent with Strategy's strategy of shifting towards Bitcoin acquisition in August 2020.

VANECK has registered a VANECK BNB ETF in Delaware, indicating that the company may launch BNB based investment products in the United States.

What issuer is gonna launch the ETF that packages the shorting of the 2X long and 2X short MSTR ETFs?