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Coinbase founder: Thank you to the Trump administration, paying tribute to crypto startups that went bankrupt due to inability to afford legal fees

ChainCatcher message, Coinbase founder stated, "Thank you to the Trump administration for winning the election and for the departure of the SEC's aggressive chairman Gary Gensler, who, along with Elizabeth Warren and some followers in Congress, orchestrated this illegal act.I believe we will win this case in court regardless, as our facts are so strong, but it undoubtedly accelerated this process and pushed for accountability. I pointed out the SEC's suspicious behavior as early as 2021, and I believe this comment has proven to be prescient. I want to give special recognition to all the other crypto companies fighting the SEC through litigation (we are clearly not the only ones). I want to especially honor those crypto startups that went bankrupt due to the inability to afford legal fees; although your companies may be dead, the crypto industry still exists.Do not stop building. I want to give special recognition to all the Democratic and Republican lawmakers working hard to ensure that the U.S. remains a leader in the crypto space. I know that Gary Gensler and Elizabeth Warren do not represent the entire Democratic Party. Finally, I want to give special recognition to all American crypto holders who support pro-crypto candidates; you have ensured that your rights are protected. It turns out that crypto voters are real, and they show up in the millions.I expect we will continue to maintain a positive collaboration with the SEC in various matters in the future, just as we do with other agencies in every country and region where we operate globally. I look forward to reforms at the SEC under the leadership of Paul Atkins, Mark Uyeda, Hester Peirce, and DOGE, welcoming more rational leaders.I also commend the new leadership for working to correct this mistake—this is a great step in the right direction and requires courage. Now, let’s push for the U.S. to enact crypto legislation, clarify the rules, and truly kickstart the next phase of building."

SoSoValue Analyst: Twenty states across the U.S. have advanced legislation for Bitcoin strategic reserves, and the potential purchasing power of public funds may reshape the Bitcoin market landscape

ChainCatcher news, according to SoSovalue statistics, as of now, twenty state-level administrative regions in the United States are initiating relevant legislative procedures. Among them, fifteen states have had their bills formally received by the House and have entered the committee review stage, forming operational legal drafts. The Bitcoin Strategic Reserve Bill is creating a regional legislative wave in the U.S.Taking Utah as an example, Bill HB0230 will allow the state's four public funds (namely, the State Disaster Recovery Restricted Account, the General Fund Budget Reserve Account, the Income Tax Fund Budget Reserve Account, and the Medicaid Growth Reduction and Budget Stabilization Account) to invest up to 5% of their total assets in Bitcoin. According to the 2024 Utah financial report data, this means a potential purchasing power of over $70 million.SoSovalue analysts state that the Strategic Bitcoin Reserve Bill is not only a new breakthrough for Bitcoin in the traditional financial system but also a historic advancement. As more state governments explore similar strategies, the trend of public funds holding Bitcoin may reshape the global market's definition of Bitcoin as an asset, defining Bitcoin not just as digital gold, but as part of national and institutional asset allocation, further solidifying its position in the global financial system.
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