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  • Texas buys $5mn BTC ETF, pushes for Bitcoin reserve plan

    Texas buys $5mn BTC ETF, pushes for Bitcoin reserve plan

    Texas pushes crypto strategy with new Bitcoin reserve plan

    • The state legislation sets aside $10 million for Bitcoin accumulation.
    • Texas is preparing a formal tender to choose a custodian for the reserve.
    • New Hampshire authorised a Bitcoin reserve and approved a $100 million Bitcoin bond.

    Texas is moving ahead with one of the most ambitious state-level crypto strategies in the country as it begins shaping the framework for a government Bitcoin reserve.

    The state has now taken its first formal step by acquiring $5 million in shares of BlackRock’s iShares Bitcoin Trust.

    The purchase is part of a wider plan triggered by legislation passed earlier this year, which allocated $10 million for future Bitcoin accumulation.

    The early activity positions Texas to become the first US state to hold a dedicated cryptocurrency reserve, giving it a lead in a growing competition among states exploring digital asset policies.

    Texas builds foundation for Bitcoin reserve

    The state has been gathering information from the cryptocurrency industry to help design how its reserve will operate.

    The review began after Texas issued a request for information in September seeking guidance on best practices for storage, security, and management.

    Industry groups sent detailed submissions covering custody models, investment structures, governance frameworks, and security systems.

    The process is part of a wider effort to ensure the reserve can be managed with clear procedures once it transitions from planning to execution.

    Texas officials are expected to follow this phase with a formal request for proposal.

    The tender will be used to select a custodian and determine the final operational rules for the programme.

    The recent $5 million allocation acts as a temporary measure rather than direct Bitcoin ownership while the state completes its selection process, according to a CoinDesk report.

    States explore government crypto strategies

    Other states have also gained exposure to Bitcoin, though through different channels.

    Michigan and Wisconsin accessed cryptocurrency markets through public-employee retirement funds.

    Wisconsin sold a $350 million allocation in May, according to public records.

    These moves reflect growing institutional interest at the state level, even in cases where governments have not yet adopted dedicated reserves.

    Several states are actively studying the idea of holding Bitcoin for strategic purposes.

    New Hampshire has authorised the creation of a government Bitcoin reserve, although it has not yet made any purchases.

    Last week, the New Hampshire Business Finance Authority approved a $100 million Bitcoin bond designed to support an economic development fund backed by cryptocurrency.

    The structure relies on private sector activity rather than direct state accumulation.

    Early development continues nationwide

    Arizona is also taking steps toward a government-level reserve.

    Its legislation directs unclaimed cryptocurrency assets held by the state into a dedicated reserve.

    The plan creates an initial legal foundation that could support future accumulation, although the full reserve framework is still in development.

    These early efforts reflect a rising interest among states in integrating digital assets into long-term financial planning.

    The state-level activity is unfolding alongside federal discussions.

    President Donald Trump has publicly supported the idea of a national Bitcoin investment strategy.

    The administration has issued an executive order directing officials to begin planning for a federal reserve structure.

    Government teams working on the project are now waiting for congressional approval before advancing to the next stage.

    Texas sets the pace in state crypto adoption

    Texas remains the most advanced of the state-level initiatives due to its legislative backing and its first confirmed investment.

    The move signals a shift from exploratory interest to practical implementation, with a structured plan for selecting custodians and defining reserve operations.

    The next steps will determine how the state transitions from temporary allocations to direct Bitcoin ownership once contracts and governance systems are finalised.

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  • Jiuzi Holdings taps SOLV Foundation for its $1B Bitcoin investment plan

    Jiuzi Holdings taps SOLV Foundation for its $1B Bitcoin investment plan

    Jiuzi Holdings taps SOLV Foundation for its $1B Bitcoin investment plan

    • Jiuzi commits up to $1B and 10,000 BTC to SOLV’s DeFi yield platform.
    • The partnership bridges TradFi compliance with DeFi Bitcoin finance.
    • JZXN shares have surged over 17% following the strategic announcement.

    Jiuzi Holdings, Inc. (NASDAQ: JZXN) has unveiled a sweeping $1 billion Bitcoin finance initiative through a strategic partnership with SOLV Foundation, a decentralised finance (DeFi) platform managing more than $2.8 billion in total value locked.

    The move positions Jiuzi as one of the few Nasdaq-listed firms actively bridging traditional finance (TradFi) with DeFi to create compliant, yield-generating Bitcoin products for institutional investors.

    10,000 Bitcoin commitment to SOLV’s flagship SolvBTC.BNB vault

    The partnership will see Jiuzi allocate up to $1 billion from its digital asset plan into Bitcoin staking and yield-focused blockchain products.

    Central to the strategy is a commitment of up to 10,000 Bitcoin to SOLV’s flagship SolvBTC.BNB vault on the BNB Chain — one of the largest Bitcoin yield platforms in the ecosystem.

    The assets will be safeguarded by regulated third-party custodians and verified through Chainlink’s proof-of-reserves auditing system, ensuring transparency and institutional-grade security.

    This marks a pivotal moment for Jiuzi Holdings, which is best known for its new energy vehicle infrastructure business in China.

    The company has been steadily diversifying into blockchain finance, and its partnership with SOLV Foundation signals a deepened commitment to positioning Bitcoin as a productive, yield-bearing asset rather than a passive store of value.

    Building a compliant bridge between TradFi and DeFi

    Jiuzi and SOLV have emphasised that the partnership will operate under strict compliance with US Securities and Exchange Commission (SEC) regulations and Nasdaq listing standards.

    The collaboration will establish a joint Steering Committee composed of senior representatives from both organisations.

    This committee will develop and oversee Bitcoin-centric DeFi initiatives, including expanding the adoption of SolvBTC across additional blockchain networks such as Solana and Base.

    By combining Jiuzi’s regulatory standing and institutional access with SOLV’s on-chain expertise, the partnership aims to create a secure, transparent, and scalable financial framework for Bitcoin-based products.

    Both companies view the collaboration as a model for how regulated capital can participate safely in decentralised yield markets.

    Optimising treasury strategy through blockchain

    Beyond its yield products, Jiuzi will anchor its corporate treasury around Bitcoin as its primary digital asset.

    The firm’s Bitcoin holdings, including those of its subsidiaries, will be deposited on SOLV’s platform and managed under the supervision of approved custodians.

    This approach is designed to maximise capital efficiency while maintaining visibility and accountability through blockchain-based auditing tools.

    Li Tao, Chief Executive Officer of Jiuzi Holdings, described the partnership as “a transformative step forward” that strengthens the company’s Bitcoin vault strategy and aligns it with one of the most advanced ecosystems for Bitcoin liquidity and staking.

    SOLV Protocol co-founder Ryan Chow added that the partnership merges Jiuzi’s regulatory stature with SOLV’s expertise in managing large-scale Bitcoin assets, paving the way for secure institutional capital flow into DeFi.

    Notably, the news of the partnership sparked a sharp rally in Jiuzi’s stock, with shares surging more than 22% in trading following the announcement.

    Investors responded positively to the company’s expansion into digital asset finance, recognising the potential for Jiuzi to play a pivotal role in institutional Bitcoin adoption.

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  • Aster price risks dip below $1 despite major buyback plan

    Aster price risks dip below $1 despite major buyback plan

    Aster Bearish Price Outlook

    • The ASTER token is teetering near a critical support level of $1.03-$1.00.
    • A potential drop below $1 risks triggering further declines to $0.90.
    • The outlook is despite a buyback plan the Aster team announced on Friday.

    Aster DEX, a decentralized exchange backed by YZi Labs and linked to Binance co-founder Changpeng Zhao, has unveiled a significant buyback initiative to bolster its native token, ASTER.

    Announced earlier today, the plan proposes allocating 70-80% of Season 3 fees toward ASTER buybacks, contingent on market conditions.

    However, despite this bold move, market data and technical outlook suggest that ASTER faces substantial risks of dipping below the critical $1 psychological support level.

    Aster team plans major token buyback

    The ASTER token is currently trading at $1.06, just in the red.

    However, the DEX token faces notable selling pressure as has been seen in the past week and month.

    On Friday, the cryptocurrency failed to climb despite earlier gains.

    Intraday upticks saw the altcoin’s price reject in the $1.12 and $1.15 region, with gains and the subsequent selling pressure coming amid a major ASTER buyback announcement.

    Why is ASTER price down today?

    Aster fell amid negative news on Thursday. Today, the token’s price action reflects a fragile market, with technical indicators pointing to potential downside risks.

    Notably, Aster has lost over 55% of its value since the peak of $2.42 reached in September.

    The rally that saw the exchange platform challenge and even surpass Hyperliquid in volume has dissipated, and the altcoin’s 24-hour trading volume, while robust, has dropped below $800 million.

    Market sentiment is further strained amid overall crypto action.

    On Friday, following high anticipation, the Bureau of Labor Statistics released the Consumer Price Index inflation for September.

    After an initial uptick alongside stocks, Bitcoin and Ethereum as well as most cryptocurrencies showed subdued action.

    The US CPI report, which indicated cooling inflation, failed to inspire sustained bullish momentum across the crypto sector.

    While the Dow Jones Industrial Average had spiked by over 530 points as of writing, Bitcoin failed to rally above $111,000, and ETH pared gains from near $4,000.

    Aster price signalled a similar outlook despite the team’s buyback announcement.

    Is ASTER set to dump below $1?

    Technical indicators highlight that the current price is at a critical support zone.

    A downturn below $1.03 means bears could strengthen in the $0.93-$0.97 region. ASTER could drop to lows of $0.90.

    Meanwhile, robust resistance lies in the $1.12-$1.15 zone, with a break to above $1.24 potentially triggering an upward momentum toward $1.52 and then $1.60.

    Aster price chart by TraddingView

    In any case, ASTER’s ability to hold above $1 is crucial for this bullish outlook.

    The buyback plan’s execution and broader market stabilization will be key for buyers.

    The token’s institutional backing and multi-chain architecture may also offer a foundation for recovery.

    However, the overall crypto market outlook suggests uncertainty could deter short-term holders.

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  • Crypto prices fall despite Trump’s Bitcoin reserve plan

    Crypto prices fall despite Trump’s Bitcoin reserve plan

    Bitcoin dips to $86k

    • Bitcoin was trading at around $88,000, dropping 1.50% in the last 24 hours
    • Ethereum, XRP, Solana, and Cardano have also seen prices dip following news of the Digital Asset Stockpile
    • TD Cowan analysts consider it a “compromise” and that the reserve is a positive move from the White House

    Crypto prices remained unchanged on Friday after US President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve.

    Data from CoinMarketCap shows Bitcoin is trading around the $88,000 mark, dropping over 1.50% in the last 24 hours.

    Bitcoin price chart. Source: CoinMarketCap

    Ethereum, XRP, Solana, and Cardano have also remained relatively flat following the news. Solana saw the biggest drop, 5% over 24 hours, and is currently trading at $142. Earlier this month, Trump revealed that these would be the coins included in the crypto reserve.

    Notably, these coins weren’t mentioned in Trump’s executive order detailing a Strategic Bitcoin Reserve and a Digital Asset Stockpile, which he signed on March 6.

    A “compromise”

    In a post on X, White House artificial intelligence (AI) and crypto czar David Sacks said:

    “The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime.”

    Sacks also indicated that the executive order authorized the Secretaries of Treasury and Commerce “to develop budget-neutral strategies for acquiring additional Bitcoin, provided that those strategies have no incremental costs on American taxpayers.”

    In response, Michael Saylor, chair and CEO of Strategy, said: “I have a few budget-neutral strategies for acquiring additional Bitcoin.”

    With the news of the Strategic Bitcoin Reserve not pushing prices higher, TD Cowen analysts said they considered this a positive move from the White House, adding:

    “We view this as a compromise. The government is not spending taxpayer dollars to acquire new digital assets. It is simply not selling the ones that it seizes.”

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  • Texas approves debtor-in-possession financing plan for BTC miner Rhodium

    Texas approves debtor-in-possession financing plan for BTC miner Rhodium

    Texas approves debtor-in-possession financing plan for BTC miner Rhodium
    • Rhodium filed for Chapter 11 with debts of up to $100M and assets of up to $500M.
    • The debtor-in-possession financing plan is offered by Galaxy Digital.
    • Galaxy Digital offers Rhodium a $30M loan or 500 BTC with a 9.5%-14.5% interest.

    Rhodium Enterprises, a Texas-based Bitcoin mining firm, has recently garnered significant attention following its Chapter 11 bankruptcy filing on August 24, 2024.

    With liabilities ranging between $50 million and $100 million, and assets valued between $100 million and $500 million, Rhodium’s financial struggles have highlighted the growing challenges within the cryptocurrency mining sector.

    Riot Platforms claims Rhodium owes it $26M

    At the heart of Rhodium’s financial distress is its strained relationship with its landlord and power supplier, Whinstone.

    This tension contributed to Rhodium defaulting on a $54 million loan in July, shortly before the company raised $78 million in additional lending. The strain has culminated in the filing of a lawsuit by rival mining firm Riot Platforms, which claims Rhodium owes over $26 million in unpaid fees.

    Texas approves debtor-in-possession financing plan for Rhodium

    Despite these setbacks, Rhodium has secured an unusual debtor-in-possession financing plan approved by a Texas court.

    This plan, offered by Galaxy Digital — a blockchain firm led by Mike Novogratz — provides Rhodium with a choice between a $30 million loan with a 14.5% annual interest rate or a 500 Bitcoin loan with a 9.5% interest rate.

    Notably, the Bitcoin miner has the option to repay the Bitcoin loan in US dollars, based on market prices at the time of repayment.

    The approval of this financing plan is particularly striking given the volatility of Bitcoin price, which adds a layer of uncertainty to Rhodium’s repayment obligations. Over the last month, Bitcoin has seen a nearly 11% decline, reflecting broader market instability.

    Rhodium’s struggles are not isolated; they are emblematic of the broader challenges facing the cryptocurrency mining industry. The recent Bitcoin halving has reduced mining rewards while rising electricity costs have eroded profit margins.

    As Rhodium endeavours to reorganize and recover, its journey underscores the precarious state of the crypto-mining sector in an increasingly volatile market.

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  • Tether and City of Lugano launch Plan Business Hub celebrating Plan’s anniversary

    Tether and City of Lugano launch Plan Business Hub celebrating Plan’s anniversary

    • The Plan Initiative was launched on March 03, 2022.
    • The main objective of the Plan was to scale Lugano’s blockchain capabilities.
    • Tether and the City of Lugano have launched the Plan Business Hub to celebrate the first anniversary of the Plan.

    It is now a year since the Plan Initiative was launched in the city of Lugano. So far The Plan has brought crypto to over 150 shops and businesses within the city. As a result, Tether Operations Limited (Tether), the company behind USDT stablecoin, has joined the city to celebrate this achievement.

    When The Plan was launched, the city of Lugano announced that Bitcoin (BTC), Tether (USDT), and the city’s own LVGA token would be accepted as payment for taxes, parking tickets, tuition fees, and public services. So far, over 150 businesses and shops including Mcdonald’s have also started accepting USDT, BTC, and LVGA in addition to fiat currency as payment for goods and services.

    To celebrate the culmination of a successful year for The Plan Inititiative, Tether and the City of Lugano on March 3, 2023, announced the launch of the Plan Business Hub.

    The Plan Business Hub

    The Plan Business Hub will help explore the potential adoption of blockchain technology in businesses and the long-term use of cryptocurrencies in the European region.

    The Hub will house more than 300 blockchain experts and enthusiasts and serve as a global point of reference in Lugano. It will also host a recreational space for meetups and workshops fostering education and development. It is designed to attract talent, and encourage networking and knowledge sharing.

    The Mayor of Lugano, Michele Foletti, commenting on the development said:

    “The goal of this collaboration is to make Lugano a center of excellence for blockchain technologies. In the first 12 months we have seen growing interest and Lugano is now definitely on the world map, alongside a handful of other destinations. The strength of Lugano’s Plan ₿ is that it has been able to demonstrate real-world use of blockchain technologies by applying it practically to local communities in Lugano. Businesses of all sizes and scale have begun to leverage blockchain platforms to improve their processes and we are watching before our very eyes as Lugano becomes a model for the global adoption of cryptocurrency.”

    Since The Plan was launched, Lugano has hosted numerous networking, outreach, and educational events that have attracted people from around the world to learn and discuss the opportunities presented by blockchain technology and cryptocurrency adoption. For instance 86 students from 26 countries visited the city over the past year for the first-ever Plan summer school, an intensive 2-week program by Tether taught by world-class experts on the business, regulatory, and technological implications of blockchain and Bitcoin.

    There is a 500-student grant set aside for future Plan summer school program students. Tether and the City of Lugano are also working together to provide additional grants to university students in the coming months.

    For the 2023 calendar, there is the 2023 Plan forum in Lugano that is scheduled to take place between October 20 and October 21. Tether will also continue its Plan summer school program with two sessions for 2023 in the spring and summer.

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  • Tron token making slow but sure gains amid plan to empower “elite” startups

    Tron token making slow but sure gains amid plan to empower “elite” startups

    • Tron token rose by 1.72% on Wednesday.

    • TRX gains come amid news that Tron was supporting startup blockchains.

    • TRX could continue to surge up to a descending trendline.

    Tron (TRX/USD) is emerging from the ruins of a bearish breakout that sent the token spiralling to $0.045. The cryptocurrency recorded intraday gains of 1.72% and traded at $0.055. The token has printed a short-term bullish trendline that could now interest buyers. 

    The slight recoveries in TRX come even as the Tron DAO continues to power startup blockchains. According to the latest announcement, Tron DAO Ventures, or TDV, will support elite startups. TDV will support projects within the Tron ecosystem and beyond. Tron says this is part of the DAO’s objective to grow decentralisation. TDV will also support outstanding projects that synergistically bridge with the Tron ecosystem.

    The latest cryptocurrency news is positive for TRX, looking at the intraday price recovery. It is, nonetheless, less important in the long-term recovery of the cryptocurrency unless we escape the bear market. In the technical analysis below, we show potential levels to watch.

    TRX price outlook and analysis

    TRX/USD Chart by TradingView

    A clear breakout of TRX happened at $0.06, and the price crashed to $0.045. The recent recoveries have, however, been encouraging. Bulls would aim for a higher price, although this is likely at the descending trendline.

    The MACD indicator is also giving some hope. The indicator is crossing from the bear zone and currently lies at the neutral level. This is the clearest bullish signal, but we need to confirm it by the price movement. That’s especially because the momentum is not very strong from the indicator.

    What to do with TRX?

    Although we are still in a bear market, TRX buyers can aim for a price that coincides with the descending trendline. Still, buyers should watch over price as the bullish strength is still mild. 

    If bears counter the upside, TRX price could crash back to the $0.045 support zone. The level around $0.052 could also offer support on the downside. 

    Where to buy TRX

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy TRX with eToro today

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy TRX with Binance today

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