Crypto World
Is Cardano in Trouble? Why Whales Are Abandoning Binance
ADA’s drop in open interest looks similar to Solana’s past pattern, where a fragmented market often comes before weaker altcoin momentum.
Cardano has experienced a sharp decline of over 10% over the past week. It started near $0.30, but heavy selling pushed it to $0.23, forming a consolidation to $0.26. Amidst strong bearish pressure, new data suggest that major traders have exited their ADA positions.
Alphractal founder Joao Wedson, for one, said that Cardano’s derivatives market is going through a major shift that could affect its price momentum.
Cardano Follows Solana’s Path
Open interest in ADA has declined sharply from $1.6 billion to $334 million, as major players have aggressively closed their positions. However, Wedson explained that the more important change lies in how OI is distributed across exchanges. In 2023, Binance controlled over 80% of ADA’s open interest, while 17 other exchanges combined held less than 20%.
By 2026, that balance has dramatically changed as Binance now holds only 22%, and Gate.io has emerged as the new leader with 31% of the market. Wedson observed that this change is significant because a similar pattern played out with Solana.
During SOL’s rally from $20 to $200 in 2023-2024, Binance’s dominance in open interest increased, thereby supporting price appreciation.
Later, as Binance’s share declined, Solana’s momentum weakened. The same trend appears to be unfolding with Cardano, and with open interest now fragmented, the altcoin’s upside potential may be limited as the overall crypto market remains fragile.
“Binance tends to be the exchange that fuels strong altcoin rallies, but only when leverage is concentrated and competition is limited.”
Long-Term Trend Remains Intact
Despite the short-term market uncertainty gripping the ADA market, pseudonymous analyst, ‘Crypto Patel,’ believes that the overall long-term structure stays bullish as long as the price does not fall below $0.13 on a weekly close.
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On the upside, he says ADA needs to reclaim $0.44 to confirm a new uptrend. If that happens, the crypto asset could enter a new bull cycle, and long-term targets range from $1.20 to as high as over $10, similar to past cycles.
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U.S.listed spot bitcoin ETFs ended March with $1.32 billion in net inflows to record their first monthly inflows since October, SoSoValue data shows.
This follows four consecutive months of net outflows, which coincided with bitcoin declining by as much as 50% from its October all time high of $126,000.
November saw $3.5 billion in outflows, followed by $1.1 billion in December, $1.6 billion in January, and $206 million in February.
March also marked bitcoin’s first positive monthly candle in six months, suggesting a potential shift in momentum.
ETF assets under management have remained relatively resilient, however. Holdings declined from 1.38 million BTC in October to a low of 1.28 million BTC, a drop of roughly 7%, and have since recovered to around 1.31 million BTC, according to CheckonChain.
ETF investors remain underwater on average, with an estimated cost basis near $84,000 compared to a current spot price of about $68,000.
Crypto World
Galaxy Digital’s (GLXY) testnet suffers hack but no client funds or information were compromised
Galaxy Digital (GLXY), the digital asset financial services firm founded by Mike Novogratz, said it recently contained a cybersecurity incident involving unauthorized access to an isolated development workspace, according to a statement from a company spokesperson.
“An immaterial amount of company funds used for testing within the isolated development workspace was impacted,” the spokesperson said in emailed comments. The loss was less than $10,000, according to a person with knowledge of the matter.
The firm emphasized that the affected environment was used solely for research and development and was not connected to its core infrastructure, production systems, trading platforms or client accounts.
Galaxy said it detected the intrusion and moved quickly to contain it, secure the compromised workspace and implement additional precautionary measures across its on-chain infrastructure.
“No client funds or client account information were accessed or at risk at any point based on our review to date,” Galaxy said, adding that all platforms and services remain fully operational and secure for clients.
Hacks and exploits remain a persistent risk in the crypto industry, where the combination of open-source code, large pools of onchain liquidity and uneven security practices creates an attractive target for attackers.
Billions of dollars are lost to smart contract exploits, phishing schemes and infrastructure breaches, with industry estimates often exceeding $1–2 billion annually in recent years.
Even when incidents are contained, and client assets are not impacted, breaches can erode trust, trigger heightened regulatory scrutiny and underscore the operational risks facing firms operating in largely irreversible, always-on financial systems.
Galaxy is a diversified financial services and investment firm focused on the digital asset and blockchain sector, providing institutional clients with trading, asset management, lending, advisory and custody services.
The firm operates across several core business lines, including global markets, asset management and digital infrastructure, while also running businesses in areas like crypto mining, staking and data center operations.
Positioned as a bridge between traditional finance and crypto, Galaxy offers institutional-grade access to digital assets and related technologies, alongside investments in blockchain ventures and emerging areas such as AI-powered infrastructure.
The company said it is continuing to review the incident and will provide updates as appropriate.
Read more: Bitcoin’s quantum threat is real, but far from an existential crisis, Galaxy says
Warren Buffett, the legendary investor and chairman of Berkshire Hathaway, revealed on CNBC this week that his firm purchased approximately $17 billion in US Treasury bills at the latest auction. Is a stock market crash coming and what does it mean for Bitcoin (BTC)?
Key takeaways:
-
Berkshire held $373 billion in cash or cash equivalents as of 2025’s close, more than double the levels in 2023.
-
The firm’s rising cash reserves typically precede major stock market crashes, a bad sign for Bitcoin.
Buffett still sees better value in cash than in stocks
Buffett’s message is straightforward: Berkshire does not see the recent equity pullback as a sufficiently attractive buying opportunity.
For context, the S&P 500 has fallen about 5.75% since reaching a record high in January.
Buffett said stocks are not “substantially” cheaper after the decline and described the sell-off as “nothing” compared with earlier downturns in which markets fell more than 50%.
That helps explain Berkshire’s latest Treasury-bill purchase. The company ended 2025 with about $373 billion in cash and equivalents, up from a record $334.2 billion a year earlier and more than double its level at the end of 2023.
Buffett, who famously called Bitcoin “rat poison,” typically gets into cash before major stock crashes, historical data shows.
In 1998, for instance, Buffett began trimming Berkshire’s stock exposure and raising cash, pushing the company’s cash and cash-equivalents holdings to $13.1 billion, or about 23% of total assets.
By mid-2000, that figure had climbed to nearly $15 billion, or roughly 25% of assets, before Berkshire started deploying capital into bargains as the Dot-com bubble burst.
Bitcoin’s positive correlation with stocks may hurt prices
Bitcoin has traded more like a stock than a traditional safe haven for much of the post-2020 period, often moving in the same direction as US equities, especially the tech-heavy Nasdaq.
As of Wednesday, the 20-week rolling correlation coefficient between the two markets was positive at 0.47.
If Buffett’s risk-off strategy is correct, then Bitcoin should see another crash alongside stocks. Fresh quantum-security concerns, war-driven inflation risks, and nearly 50% US recession odds are putting pressure on the BTC price.
Berkshire’s portfolio decisions have also leaned away from crypto-adjacent finance.
In the first quarter of 2025, the firm fully exited Nu Holdings, a crypto-friendly fintech company, after building its position in 2021 and 2022. It secured about $250 million in profits from these investments.
Multiple analysts predict BTC’s price to drop to as low as $30,000 in 2026.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
Onchain data shows more than a dozen asset types drained from the Solana perp DEX’s main vault address in a rapid burst of transactions.
TLDR
- EDX Markets has applied for a national trust bank charter with the Office of the Comptroller of the Currency.
- The charter would allow the company to offer regulated custody, asset management, and principal trading services.
- The exchange plans to separate custody and settlement functions from its trading operations.
- Chief executive Tony Acuña-Rohter said the trust charter would help serve institutional clients.
- The move follows conditional trust charter approvals granted to Circle and Ripple in December.
EDX Markets has filed for a national trust bank charter with the Office of the Comptroller of the Currency. The application would allow the crypto exchange to expand custody and settlement services under federal oversight. The move marks a direct step toward deeper integration with the US banking system.
Citadel-Backed Platform Seeks Federal Trust Status
EDX Markets submitted its application on April 1, according to public filings. The company seeks approval to operate as a national trust bank under OCC supervision. The charter would permit custody, asset management, and principal trading within a regulated structure.
The exchange stated that the new structure would separate custody and settlement from trading functions. It argued that combining brokerage, exchange, and custody roles creates conflicts and operational risk. Therefore, it aims to align its operations with traditional financial market models.
EDX Markets operates an institutional crypto platform backed by Citadel Securities and other financial firms. The company said the trust charter would strengthen safeguards for client assets. It added that federal supervision would support secure custody and settlement systems.
Chief executive Tony Acuña-Rohter said large banks will shape the next stage of digital asset adoption. He stated, “Obtaining a trust charter positions us to meet institutional demand for regulated custody.” He added that the structure supports clients requiring compliant asset management services.
The company maintained that the trust model reflects established practices in equities and derivatives markets. In those markets, exchanges, brokers, custodians, and market makers operate separately. EDX Markets said this separation limits conflicts between trade execution and asset custody.
Application Reflects Policy Shift Toward Digital Assets
The filing comes as federal regulators show greater openness to crypto firms entering the banking system. Several companies have sought national trust charters in recent months. Regulators have reviewed these applications under existing banking laws.
In December, regulators granted conditional approvals to Circle Internet Group and Ripple. Those approvals allowed both firms to pursue trust bank operations under federal supervision. The decisions placed custody and asset management within the regulatory perimeter.
EDX Markets stated that its proposed structure would reduce systemic risk across crypto platforms. It said separating custody and trading functions strengthens protections for client funds. The firm emphasized that regulated settlement systems improve operational transparency.
Founded in 2022, EDX Markets built its platform for institutional investors entering digital assets. Backers include Citadel Securities, Virtu Financial, Fidelity Digital Assets, and Hudson River Trading. The exchange designed its order-matching system to mirror traditional market infrastructure.
National trust banks can hold client assets and manage portfolios under OCC oversight. They can also provide fiduciary and custody services within federal rules. EDX Markets confirmed that it will continue operating its existing order-matching platform during the review process.
Block co-founder Jack Dorsey and the company’s lead independent director, Roelof Botha, have laid out a forward-looking vision in which artificial intelligence could fundamentally change how work is coordinated. In a blog post published this week, they describe a model where AI would take on the tasks typically handled by middle managers—tracking projects, flagging issues, assigning work, and sharing critical information faster than human processes allow.
The post comes on the heels of Block’s previously reported workforce restructuring, part of a broader wave of AI-driven cost-cutting across the tech sector. Block disclosed that it cut roughly 4,000 jobs in February, an action Dorsey attributed to the rapid pace of AI adoption and the need to stay competitive. In March, some of the employees who had been laid off were quietly rehired, illustrating a cautionary approach to the current wave of optimization. The blog authors emphasize that AI’s role in the new model is evolving, not yet fully realized, and that Block remains in the “early stages” of testing how an intelligence-centric structure could function in practice.
“We’re questioning the underlying assumption: that organizations have to be hierarchically organized with humans as the coordination mechanism. Instead, we intend to replace what the hierarchy does. Most companies using AI today are giving everyone a copilot, which makes the existing structure work slightly better without changing it. We’re after something different: a company built as an intelligence, or mini-AGI.”
Key takeaways
- Block’s leadership proposes replacing traditional hierarchical management with an intelligence-driven framework that leverages AI to coordinate work and decision-making.
- The envisioned structure redefines roles around three pillars: individual contributors, directly responsible individuals, and player-coaches who mentor while continuing to contribute technically.
- AI would enable real-time visibility into what’s being built, what’s blocked, resource allocation, and overall product performance, potentially speeding up information flow beyond conventional managerial channels.
- Despite the AI emphasis, human involvement remains central to strategic and ethical decisions, signaling a blended governance approach rather than a pure automation model.
From hierarchy to intelligence: Block’s strategic shift
The core idea articulated by Dorsey and Botha is a pivot away from the familiar pyramid where instructions travel up and down through layers of management. In a remote-first, machine-readable environment, AI would continuously build and maintain a live picture of organizational activity: what’s in development, what’s blocked, where resources are needed, and what outcomes are proving effective or failing. The authors describe the aim as moving beyond “copilot” enhancements to a more transformative design—an organization that operates as an intelligence rather than a traditional hierarchy.
They emphasize that the pattern could reshape corporate operation across sectors, not just within Block. The argument rests on a simple premise: information flow drives speed and adaptability. If AI can handle the coordination overhead more efficiently than humans, the bottlenecks created by layers of management could recede, enabling faster iteration and more responsive leadership decisions.
To illustrate the proposed shift, Block outlines a three-tier talent model. Individual contributors would be responsible for building and maintaining the operating systems that power the company’s workflows. Directly responsible individuals would tackle specific problems and be empowered to marshal any resources necessary to resolve them. Between these layers, player-coaches would assume manager-like duties—mentoring and supporting others—while continuing to contribute code and substantive work themselves. In this arrangement, the traditional gatekeeping function of middle management would be distributed and augmented by AI-enabled visibility and automation.
People still in the driver’s seat
Even as AI takes on coordination tasks, Dorsey and Botha stress that human judgment remains indispensable. They acknowledge that AI can process information at a scale and speed far beyond human capability, but key business and ethical decisions will continue to require human insight. The blog notes that while AI can present a continuously updated view of operations, it cannot substitute for the values, prudence, and accountability that guide corporate governance.
This stance sits at an important crossroads for investors and workers alike. The acceleration of AI-driven restructuring has historically raised questions about job security, morale, and the long-term viability of new organizational paradigms. Block’s own experience—balancing a major layoff with later rehiring of some affected employees—illustrates a cautious, iterative approach rather than a speculative leap into a fully automated future. The authors’ framing suggests a model where AI acts as a force multiplier for human capabilities, rather than replacing people wholesale.
Why it matters for crypto-adjacent ventures
The broader crypto and fintech sectors have watched Block (the company behind the Cash App and a notable crypto-friendly stance) as a bellwether for technology-enabled financial services. If an AI-first, intelligence-driven corporate structure gains traction, it could influence how other blockchain and payments firms think about product development cycles, regulatory compliance, and governance practices. The potential impact extends to how quickly teams can respond to security risks, how product roadmaps are validated in real time, and how cross-functional collaboration is organized in a hybrid or fully remote environment.
From an investor perspective, the shift raises questions about how governance, risk controls, and performance metrics would be managed in an AI-augmented organization. Real-time visibility into development pipelines and resource allocation could improve transparency, but it also heightens sensitivity to data quality, AI oversight, and ethical considerations in automated decision-making. As with any large-scale adoption of AI in corporate governance, the outcomes will hinge on guardrails, accountability, and the ongoing calibration of human-in-the-loop processes.
Block’s announcement aligns with a wider industry conversation about whether AI can augment, or even replace, certain managerial functions. While the blog presents a staged, experimental path toward an intelligent enterprise, observers will be watching to see whether early pilots yield tangible improvements in productivity, risk management, and employee engagement. The balance between speed and governance will be particularly telling in sectors where regulatory scrutiny and customer trust are paramount.
What to watch next
The immediate questions center on execution and governance. How quickly will Block move from a conceptual framework to concrete organizational changes? What criteria will the company use to assess the success of its AI-driven coordination model? And how will Block address potential pitfalls, such as algorithmic bias, data silos, or accountability for automated decisions?
As AI continues to redefine work patterns across the technology landscape, Block’s approach could foreshadow a broader shift in corporate design. If the model proves adaptable and beneficial, it may prompt other firms to experiment with similar intelligence-driven structures, especially in environments that prize rapid iteration and remote collaboration.
Readers should monitor Block’s forthcoming updates and pilot implementations to gauge whether the vision moves from theory to practice and how those developments influence investor confidence, employee experience, and the broader discourse around AI-enabled governance.
XRP is trading near $1.36 with modest 24-hour gains of up +2.6% in price, but the real story is regulatory, and it could reshape Ripple’s long-term value prediction entirely. The Office of the Comptroller of the Currency’s landmark final rule takes effect April 1, and Ripple is positioned squarely in its crosshairs.
The OCC’s final rule revises chartering regulations to allow national trust banks to conduct non-fiduciary activities alongside fiduciary ones, a structural change that opens the U.S. banking system to crypto-native operators at a federal level.
— JackTheRippler © (@RippleXrpie) March 31, 2026
RUMORS: @Ripple will officially receive the approval to become a National Trust Bank tomorrow, April 1st. #XRP pic.twitter.com/pDpLpg70jG
Ripple’s conditional approval as a National Trust Bank was granted alongside approvals for BitGo, Fidelity, and Paxos, signaling this isn’t a one-off concession but a systemic policy shift. The full charter remains pending, but conditional approval already allows Ripple to custody client assets under federal oversight as a direct boost to institutional confidence in both XRP and the RLUSD stablecoin.
This development lands as U.S. regulators push crypto deeper into traditional financial infrastructure, making the timing anything but coincidental. The price, however, tells a more complicated story.
Discover: The best pre-launch token sales
XRP Price Prediction: Ripple to Reclaim $2.00 Amid Regulatory Tailwinds?
XRP 24-hour trading volume surging to $2.1 billion, even if conviction is mixed, it is still a notable volume spike. Support still clusters at $1.30 – $1.35, the range that has held through recent consolidation. Resistance begins at $2.20 and extends toward $3.30, the upper bound of recent 24-hour highs recorded on Binance.
XRP remains -63% off its 2025 all-time high of $3.65, with Standard Chartered having revised its 2026 XRP forecast down to $2.80 from an earlier $8.00 target, citing deteriorating market conditions.
April 1 OCC rule, however, can trigger institutional inflows with XRP reclaiming $2.20 resistance within 30 days as custody clarity drives TradFi adoption. But most likely, XRP price consolidates in the $1.35–$1.80 range through Q2 2026, with the full trust bank charter serving as the next catalyst.
The OCC news is structurally bullish for XRP long-term. Near-term price action, though, appears hostage to broader market sentiment until the full charter lands.
Discover: The best crypto to diversify your portfolio with
Bitcoin Hyper Eyes Infrastructure Upside as XRP Tests Critical Support
XRP’s regulatory breakthrough is real, but at a $83B+ market cap, the ceiling on percentage returns requires a specific kind of optimism. Traders hunting asymmetric upside in the current cycle are increasingly rotating toward earlier-stage infrastructure plays where the valuation gap is wider, and the catalyst timeline is front-loaded.
Bitcoin Hyper ($HYPER) is one project absorbing that attention. It positions itself as the first-ever Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, bringing sub-second smart contract execution to Bitcoin’s ecosystem without compromising the underlying security model. Bitcoin’s trust, Solana’s speed.
The presale has raised $32 million at a current token price of $0.0136, with 36% APY staking rewards available for early participants. Features include a Decentralized Canonical Bridge for BTC transfers, extremely low-latency Layer 2 processing, and high-speed, low-cost transaction execution that outperforms Solana itself on throughput metrics.
Research Bitcoin Hyper before the presale closes.
This article is for informational purposes only and does not constitute financial advice. Crypto assets are highly volatile. Always conduct your own research before investing.
The post XRP Price Prediction: Ripple to Become National Bank? appeared first on Cryptonews.
Crypto World
Solana (SOL) DeFi platform Drift investigates suspicious activity, tells users to halt deposits
Solana-based decentralized finance (DeFi) platform Drift said it is investigating “unusual activity” on its protocol, prompting concerns that the platform may have been exploited.
“We are observing unusual activity on the protocol. We are currently investigating. Please do not deposit funds into the protocol while we investigate,” Drift wrote in a post on X. “This is not an April Fools joke. Proceed with caution until further notice. We’ll provide additional updates from this account.”
The warning triggered speculation across the crypto community, with some users reporting irregular behavior tied to their positions.
Helius CEO Mert Mumtaz added to the concern in a separate X post, writing, “not 100% fully certain yet, but it seems drift might be getting exploited.” Helius is a key infrastructure provider on Solana, offering APIs and node services that developers and platforms rely on to access blockchain data.
If confirmed, an exploit could affect user funds and add pressure on Solana’s DeFi ecosystem, which has seen renewed growth in recent months.
The value of the Bitcoin treasury company’s holdings peaked at over $711 million in October 2025, when BTC hit an all-time high of about $126,000.
Bitcoin (BTC) treasury company Nakamoto (NAKA) selling its BTC at a loss could signal capitulation of more crypto treasury companies and the start of a “contagion” that could spark a wave of forced selling, according to market analyst Nic Puckrin.
“Cracks are beginning to show in the digital asset treasury (DAT) market,” Puckrin said, adding that the war in the Middle East will likely place further pressure on Bitcoin’s price and treasury companies in a reinforcing cycle. He said:
“Price is likely to remain below $70,000 for some time and could fall further to a range around $55,700-$58,200 in the coming weeks. This ongoing weakness would put further pressure on DATs, which could in turn exacerbate the sell-off.”
Nakamoto sold 284 BTC in March for $20 million, implying a price of about $70,000 per coin; the company also reduced its stake in the publicly traded Bitcoin treasury company Metaplanet, selling shares at a loss.
At the end of 2025, the company valued its 5,342 BTC treasury at $467.5 million and recorded a $166.1 million loss on the fair value of its digital asset holdings in the fourth quarter, according to the company’s 10-K filing with the Securities and Exchange Commission (SEC).
The crypto treasury sector saw a collapse in net asset value premiums during Q3 2025, and stock prices declined even before the crypto market crash in October 2025, which sparked a prolonged bear market and a decline in digital asset prices.
Related: Bitcoin miners offload 15K BTC since October, with more sales expected
MARA also sells BTC in March as market rout continues
Bitcoin mining company MARA also sold 15,133 Bitcoin in March, valued at over $1 billion, to repurchase and retire about $1 billion in convertible debt.
MARA’s vice president for investor relations, Robert Samuels, said the sale does not signal a core shift in the company’s BTC treasury strategy, but is a short-term tactical move.
“We may buy or sell from time to time, subject to market conditions and our capital allocation priorities. It does not mean we intend to liquidate the majority of our reserves,” Samuels said.
Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation: Santiment founder
TLDR
- Arizona advanced Senate Bill 1649 to a full House floor vote after clearing the House Rules Committee.
- The bill would allow the state to create a Digital Assets Strategic Reserve Fund.
- The proposal permits Arizona to retain seized cryptocurrencies instead of auctioning them.
- The legislation names XRP, Bitcoin, Monero, NEAR Protocol, and Nano as eligible assets.
- Lawmakers set criteria to assess adoption levels and transaction activity for reserve assets.
Arizona lawmakers advanced Senate Bill 1649 to a full House vote after clearing the House Rules Committee. The proposal would allow Arizona to retain seized digital assets in a state-managed fund. The measure names XRP, Bitcoin, and Monero as eligible assets under defined standards.
Arizona Crypto Reserve Plan Names XRP as Eligible Asset
The House Rules Committee approved SB1649 with eight votes in favor. As a result, the bill now heads to the full House for consideration. Lawmakers introduced the measure to create a Digital Assets Strategic Reserve Fund. The proposal allows the state to keep digital assets obtained through forfeiture or surrender. Currently, agencies auction most seized cryptocurrencies.
State Senator Mark Finchem introduced SB1649 earlier this session. The Senate Finance Committee passed the bill with a 4–2–1 vote. Lawmakers set criteria to determine which assets qualify for the reserve. The criteria review adoption rates, annual transaction volume, and ecosystem development. The bill lists XRP, Bitcoin, Monero, NEAR Protocol, and Nano as eligible assets.
The proposal authorizes the State Treasurer to manage the reserve fund. The Treasurer may invest holdings to generate returns for the state. However, the bill requires that investment actions do not increase financial risk. Lawmakers included this provision to guide fund management practices.
If the House approves SB1649, the bill will move to the governor’s desk. The governor may sign the measure into law or veto it. Lawmakers placed the bill on the House calendar following the committee vote.
Bitcoin and Monero Included in Arizona Reserve Framework
SB1649 identifies Bitcoin as a primary digital asset for the reserve. Lawmakers also included Monero under the eligibility framework. The bill groups these assets with XRP under a defined fair value threshold. This threshold evaluates economic strength and technical performance.
Under the measure, Arizona may retain cryptocurrencies received through legal processes. Agencies would transfer those assets to the reserve fund instead of auctioning them. The Treasurer would then oversee storage and management of the holdings. Lawmakers structured the bill to formalize how the state handles digital assets.
The legislation forms part of broader digital asset discussions in Arizona. Lawmakers are also considering Senate Bill 1042. That proposal would allow the state to invest up to 10% of public funds in cryptocurrencies. SB1042 remains under review in the state legislature.
At the federal level, digital asset reserves have also entered policy debates. President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve. The order also created a broader digital asset stockpile framework. Lawmakers referenced these developments during state discussions.
The House will now determine the fate of SB1649 in a floor vote. If members approve the measure, it will proceed to final executive consideration. The legislative process continues as scheduled in the current session.
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