Coinbase Backs Strategic Bitcoin Reserve Ahead of Trump Inauguration

News on the Blockchain, January 18th, 2025

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📈 Preview On Today’s News:

1. - Coinbase Backs Strategic Bitcoin Reserve Ahead of Trump Inauguration

2. - California to Draft Pro-Bitcoin Legislation: A Game-Changer for Crypto Adoption

3. - Wyoming Pioneers Bitcoin Reserve Legislation

Keep reading below for more!

Today’s News:

1)

Coinbase Backs Strategic Bitcoin Reserve Ahead of Trump Inauguration

Coinbase, the largest cryptocurrency exchange in the United States, has endorsed the creation of a strategic Bitcoin reserve, marking its first public support for the idea. CEO Brian Armstrong promoted the initiative in a blog post, emphasizing the potential of cryptocurrency to accelerate economic freedom through free-market capitalism and innovation. He outlined four key steps for policymakers, including passing pro-crypto regulations, establishing Bitcoin reserves, creating special economic zones for digital assets, and improving government efficiency under the new Department of Government Efficiency (DOGE). The endorsement coincides with Donald Trump’s second inauguration and Armstrong's participation in the World Economic Forum, highlighting growing state and federal interest in Bitcoin's role in the economy.

• Coinbase CEO Brian Armstrong endorsed a strategic Bitcoin reserve, advocating for pro-crypto policies to accelerate economic freedom and technological innovation.

• Armstrong proposed steps like pro-crypto legislation, Bitcoin reserves, special economic zones, and streamlined government operations to position the US as a leader in the digital economy.

2)

California to Draft Pro-Bitcoin Legislation: A Game-Changer for Crypto Adoption

California Assembly member Phillip Chen, in collaboration with the nonprofit Proof of Workforce, is set to draft groundbreaking pro-Bitcoin legislation aimed at integrating cryptocurrencies into the state’s policies. This initiative, announced on January 17, 2025, seeks to explore Bitcoin’s role as a global asset and enhance adoption across sectors like pensions, unions, and workforce education. The move aligns with broader national efforts, including President-elect Donald Trump’s anticipated push for a federal strategic Bitcoin reserve, signifying a pivotal shift in U.S. crypto policy.

• California Assembly member Phillip Chen collaborates with Proof of Workforce to draft pro-Bitcoin legislation, focusing on expanding adoption in pensions, unions, and workforce education.

• The initiative aligns with national efforts, including President-elect Trump's expected creation of a strategic Bitcoin reserve, marking a significant shift in U.S. crypto policy.

3)

Wyoming Pioneers Bitcoin Reserve Legislation

Wyoming has introduced legislation enabling its permanent funds to diversify into Bitcoin, spearheaded by Senator Cynthia Lummis. The proposed "Bitcoin Act of 2024" aims to establish a Bitcoin reserve to strengthen the U.S. dollar and solidify America’s position as a global cryptocurrency leader. This initiative, aligned with President Trump’s pro-crypto stance and market-friendly policies, comes as the U.S. faces record debt levels. The bill must pass through both the Senate and the House before reaching the President's desk, signaling a pivotal moment for U.S. crypto policy.

• Wyoming's legislation, led by Senator Cynthia Lummis, proposes creating a Bitcoin reserve to enhance the U.S. dollar and establish the country as a global crypto leader.

• Support from President Trump and other states like Oklahoma and California bolsters optimism for the bill's success as momentum builds for pro-Bitcoin legislation across the U.S.

Disclaimer:

The information provided in this newsletter is based on our data findings and opinions. It is intended for informational purposes only and should not be considered financial advice. Cryptocurrency investments carry significant risk, and it is important to conduct your own research and consult with a qualified financial advisor before making any investment decisions. We are not responsible for any financial losses or gains you may incur as a result of using this information.

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