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Ohio Representative Derek Merrin Introduces Bill to Establish State Bitcoin Reserve
House Bill 703, the Ohio Bitcoin Reserve Act, proposes creating a state Bitcoin fund and granting the treasurer authority to buy the crypto.
Ohio State Representative Derek Merrin is following in the footsteps of other representatives across the U.S., bringing forward a bill that would authorize the state’s treasury to invest public funds in Bitcoin.
House Bill 703, known as the Ohio Bitcoin Reserve Act, would establish a dedicated Bitcoin fund within the state treasury while investing the State Treasurer with discretionary power to purchase the crypto.
"The U.S. Dollar is being rapidly devalued, and our State Treasurer should have the authority and flexibility to invest in Bitcoin when determining proper asset allocation," Merrin said in a statement posted to X. "Ohio must embrace technology and protect tax dollars from eroding."
The bill amends section 2981.12 and enacts section 135.146 of Ohio's Revised Code but does not mandate any specific Bitcoin purchases or portfolio allocations.
"Bitcoin provides a vehicle to supplement our state's portfolio and preserve public funds from losing value," Merrin stated, arguing that through the legislation, the Ohio state government could "harness the power of Bitcoin" to strengthen its state finances. Read More
World’s Largest Crypto Exchange Rolls Out ‘Binance Alpha’ Feature to Spot Early-Stage Projects With Potential
Binance, the largest crypto exchange in the world by volume, is launching a new wallet feature aimed at shining a spotlight on nascent crypto projects.
According to a new Binance announcement, Binance Alpha is “a new platform within the Binance Wallet that shines a spotlight on early-stage crypto projects with the potential to grow within the Web3 ecosystem.”
The press release says the platform is committed to enhancing transparency in Binance’s token listing process by prioritizing projects that showcase strong community engagement, substantial traction, and alignment with key crypto trends.
Binance Alpha is part of Binance’s broader effort to promote innovation and expand the Web3 ecosystem by connecting users with promising blockchain projects at an early stage, per the announcement. Read More
A Web 3.0 VC’s Guide to Surviving and Thriving in 2025
2024 will be recognized as the year when crypto and blockchain finally mainstreamed their legitimacy.
While the crypto industry is no stranger to adversity, this year has seen a surge of optimism regarding its potential.
With the re-election of Donald Trump as President of the United States, the global cryptocurrency market has surpassed a valuation of $3 trillion for the first time in over three years.
This resurgence is driven by a demand for Bitcoin and other digital assets, coinciding with the new administration’s policies and market sentiment.
With the clouds starting to part, regulatory clarity and infrastructural progress have emerged as two key factors driving the industry’s successes and hard-earned legitimacy.
This shift has fueled a steady influx of VC (venture capital) investments over the course of 2024, signaling the market is both maturing and preparing for a major breakout.
So, how can startups take advantage of 2025’s fresh possibilities to garner VC attention? The answer lies in reflecting on the past year. Read More
Chainalysis Scoops Up Blockchain Security Firm Hexagate Amid Surge in Crypto Hacks
The acquisition supports Chainalysis’ efforts to bolster trust across various blockchains by expanding beyond investigations into prevention.
Blockchain analytics firm Chainalysis announced on Wednesday its acquisition of Hexagate, a Web3 security provider, in response to the growing threat of crypto hacks and exploits.
“Together, Chainalysis and Hexagate provide a holistic risk solution that includes prevention, compliance, and remediation,” Chainalysis CEO Johathan Levin wrote in the announcement.
The sum it paid for Hexagate was not immediately clear. Decrypt has reached out for clarification.
The acquisition supports Chainalysis’ efforts to bolster trust across various blockchains by expanding beyond investigations into prevention.
Chainalysis is set to integrate Hexagate’s machine learning-powered tools, which detect and mitigate on-chain risks such as hacks, cyber exploits, and governance vulnerabilities, the companies said. Read More
Exploring The IndoEx Cryptocurrency Exchange The First Trading Platform To List The Markethive Token - Hivecoin
The IndoEx exchange aims to cater to a broad spectrum of investors, including newcomers, seasoned traders, and institutional investors, rather than focusing on a specific target audience like most crypto trading platforms. The platform's primary objective is to offer a robust and efficient infrastructure that enables seamless and rapid transactions of crypto assets.
As the IndoEx trading platform is the first crypto exchange to list Hivecoin, this article delves deeper into the platform, exploring it further to bring awareness to the Markethive community. Since its establishment in 2019, IndoEx has gained prominence in the alternative cryptocurrency trading sector due to its reasonable commissions, secure wallets, high trading volume, and fast transactions.
The trading platform, with offices in the United Kingdom and Estonia, provides close to 300 trading pairs, can be used in 150 different countries, and supports a range of cryptocurrencies, including popular ones such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT), and Ripple (XRP), as well as notable alternative coins like DASH, Chainlink (LINK), and Solana (SOL). Furthermore, it accommodates less mainstream coins and tokens like NEO, Cardano (ADA), and EOS, amounting to 180 cryptocurrencies. Users can exchange these coins for traditional currency or trade them with one another.
The platform provides users exclusive access to newly launched tokens through airdrops, giving them a head start in discovering and acquiring new tokens with the potential for long-term growth. Beyond trading, users can also benefit from receiving free tokens that may significantly impact the global market. Furthermore, the platform hosts trading contests and an initial coin offering (ICO) launchpad, offering crypto enthusiasts a comprehensive suite of features. Read More
El Salvador makes Bitcoin payments voluntary in $1.4B IMF loan deal
El Salvador struck a loan deal with the IMF in which it will make Bitcoin acceptance voluntary and roll back government involvement in Bitcoin-related projects.
El Salvador is set to make merchant acceptance of Bitcoin voluntary, unwind its involvement in its little-used Chivo wallet and make public sector engagement of Bitcoin-related economic activity “confined” as part of a $1.4 billion loan deal with the International Monetary Fund.
The Central American nation will get $1.4 billion from the IMF over the next 40 months after agreeing to measures aimed at dropping its debt-to-GDP ratio, the global lender said in a Dec. 18 statement.
“The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies. Legal reforms will make acceptance of Bitcoin by the private sector voluntary,” the IMF said.
“For the public sector, engagement in Bitcoin-related economic activities and transactions in and purchases of Bitcoin will be confined.”
IMF also said taxes will be paid in US dollars — the country’s official currency — and government involvement in the state-backed crypto wallet Chivo “will be gradually unwound.” Read More
Binance.US Charts 2025 Comeback, CEO Norman Reed Reflects on Challenges and Plans for Growth
The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits.
Building on the momentum of anticipated changes to U.S. crypto policy, Binance.US said it aims to restore its USD services in early 2025, according to a statement shared with Decrypt.
It marks the exchange's first major operational shift as regulatory pressure forced the exchange to suspend fiat trading last year.
The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits and withdrawals.
"While I can't provide a definitive launch date yet, let me be clear: It is not a matter of if, but when," interim CEO Norman Reed said in the statement.
Binance.US functions as a separate entity from Binance, the global crypto exchange, operating under BAM Trading Services to comply with U.S. regulations. Read More
Bitwise Launches Solana Staking Product in Germany as US ETF Hopes Grow
Crypto asset manager Bitwise has launched a Solana staking ETP in Germany, while American investors await the U.S. equivalent.
A Solana exchange-traded product may not exist in the U.S. yet, but until the SEC approves such funds, asset managers are feeding an apparent appetite from European investors for products related to the sixth-biggest digital coin.
Crypto asset manager Bitwise today announced its new Solana Staking ETP, which will trade in Germany on the Deutsche Börse AG. The fund gives investors the chance to earn bigger returns compared to other SOL products, Bitwise said, because it uses a staking mechanism.
Staking refers to the process of “locking up” digital coins or tokens to help keep a crypto network running. Proof-of-stake networks like Solana reward users who pledge their coins to the network by providing yield in the form of additional tokens.
Bitwise said in a Wednesday statement that the fund will give investors a “low-cost, liquid, and transparent investment vehicle for staked SOL exposure.” Blockworks first reported the news Tuesday ahead of the official announcement. Read More
Binance SOL Liquid Staking Token Surpasses $1 Billion in Total Value Locked
Binance’s BNSOL leads the Solana liquid staking ecosystem, with its total value locked exceeding $1 billion.
Binance has announced a major milestone for BNSOL, its Solana liquid staking token. The token recently crossed $1 billion in total value locked (TVL), representing more than 10% of the market cap of all of Solana’s liquid staking tokens.
An important factor in BNSOL’s success is the expansion of Solana‘s ecosystem which has seen its liquid staking ratio more than double in 2024 with an estimated $8 billion market valuation.
The popularity of BNSOL among Binance users due to its high returns and wide range of applications has solidified its position as a key participant in the liquid staking ecosystem with over 4.8 million SOL staked. BNSOL is also the largest exchange-backed SOL liquid staking token, putting it in a league of its own.
Jeff Li, Binance VP of Product expressed his enthusiasm for BNSOL hitting this landmark.
“Surpassing $1 billion in Total Value Locked in just three months reflects the tremendous demand for BNSOL. The integration of BNSOL with various products on the Binance platform and Defi Protocols has been a key driver of adoption for the token.” Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
