The Texas Senate’s recent approval of a Bitcoin reserve bill highlights the state’s commitment to becoming a leader in digital currency adoption. This move signals a broader trend among U.S.
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The cryptocurrency market is booming during Thursday’s early morning hours, with bitcoin poised to recover price levels not seen since February. The leading cryptocurrency experienced an upswing of nearly 3%, reaching prices of over $99,000 on several exchanges. Similarly, ether also rose to levels not seen since April, surpassing the key $1,900 mark. This market
The broader cryptocurrency market has charted a notable increase over the past hours following an announcement from the US president about a “major trade deal” expected to be announced tomorrow. BTC, ETH, XRP, Altcoins Gain As CryptoPotato reported , Bitcoin’s price is seemingly aimed for the important technical and psychological resistance level at $100,000. The broader cryptocurrency market is also mostly in green, as seen in the heatmap below. Source: Quantify Crypto ETH is up by 3.6%, though it’s worth noting that the protocol went through a major update called Pectra yesterday. It combines a total of 11 Ethereum Improvement Proposals (EIP), including account abstraction designed to transform regular wallets into smart contract-like powerhouses. XRP is also in the green. Its price is up by almost 2%. Other altcoins such as SOL, DOGE, ADA, AVAX, LINK, TONCOIN, HBAR, and more, are charting gains between 2% and 5%. Trump Teases Major Trade Deal Representatives of the United States and China are expected to meet this weekend and discuss a potential trade deal. That said, US President Donald Trump posted on Truth Social that there will be an announcement of a major deal coming up tomorrow, without sharing any concrete details. Big News Conference tomorrow morning at 10:00 AM., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG AND HIGHLY RESPECTED COUNTRY. THE FIRST OF MANY. The post BTC, ETH, XRP Gain as Donald Trump Teases Major Trade Deal appeared first on CryptoPotato .
A Texas House Committee has passed a Republican-backed bill to create a Bitcoin reserve, which now only needs a successful full floor vote before heading to the governor’s desk. The Texas House Committee on Delivery of Government Efficiency passed Senate Bill 21 with no amendments on May 7 in a 9-4 vote along party lines. The bill has already passed the Texas Senate , in a 25-5 vote on March 6. SB 21 would establish the “Texas Strategic Bitcoin Reserve,” controlled by the state’s comptroller — currently Glenn Hegar — who would be permitted to invest in digital assets that have obtained a market cap of at least $500 billion over the last twelve months, which would currently only include Bitcoin ( BTC ). Source: Pierre Rochard Republican Senator Charles Schwertner initially introduced SB 21 in January as a Bitcoin-only bill. However, the bill was refiled to include the potential inclusion of other digital assets in February. Bitcoin Laws founder Julian Fahrer said on X that the fate of SB 21 should be determined before June 2, when the Texas legislature adjourns. If the bill sees a successful full floor vote, it would head to Governor Greg Abbott’s desk. Abbott expressed his desire to make Texas the “crypto capital” of the US in November and accepted Bitcoin donations as part of his campaign in 2014 Two Bitcoin reserve bills now signed into law The Texas vote comes the same day as Arizona Governor Katie Hobbs signed a bill into law that allowed the state to keep unclaimed crypto and establish a Bitcoin and Digital Asset Reserve Fund that won’t use taxpayer or state funds. The state can also stake abandoned crypto to earn rewards or receive airdrops , which can then be deposited into its crypto fund. Related: Swedish MP proposes Bitcoin reserve to finance minister New Hampshire Governor Kelly Ayotte also signed House Bill 302 into law days earlier on May 6, allowing the state’s treasury to use funds to invest in cryptocurrencies with a market cap of more than $500 billion. Florida, however, removed two Bitcoin reserve bills on May 3 — a day when state lawmakers passed 230 bills ranging from prohibiting putting fluoride in water, protecting state parks, and banning smartphone use in schools. Magazine: Adam Back says Bitcoin price cycle is ’10x bigger’, has ’empathy’ for ETF buyers
On May 8, Coinbase’s Chief Legal Officer, Paul Grewal, revealed that the company has submitted over 10,000 pages of Freedom of Information Act (FOIA) documents, shedding light on its interactions
In the US Senate, Republican and Democratic senators have reached an agreement in principle on the long-discussed cryptocurrency regulation GENIUS Act. The agreement was reached this afternoon US time, according to information based on three sources. But the final text of the bill has not yet been released and Senate Democrats have requested more time to brief members, while Republicans are pushing for a vote this week. The GENIUS Act aims to create a new regulatory framework for cryptocurrencies called “stablecoins” that are pegged to assets like the U.S. dollar. The bill, which passed the Senate Banking Committee with bipartisan support in March, has begun to lose support among Democrats in recent weeks, largely due to growing concerns about President Donald Trump and his family’s business ties to the cryptocurrency space. Related News: Project That Has Been Anticipated for a Long Time Finally Announces Its Airdrop Distribution - Here Are the Details Weeks after the bill passed the committee, it was announced that an Abu Dhabi-backed company would invest billions of dollars in a crypto firm known to be owned by the Trump family, World Liberty Financial. The deal would see the company buy a $2 billion stablecoin and use the asset to invest in the Binance exchange. This development has caused serious concerns among Democrats. Democrats are now calling for new regulation that would ban elected officials and their families from trading crypto assets. *This is not investment advice. Continue Reading: Major Development for Cryptocurrencies: Democrats and Republicans Reach Agreement in Principle in the US
Dogecoin started a fresh increase from the $0.1650 zone against the US Dollar. DOGE is now gaining pace and might rise toward the $0.185 zone. DOGE price started a fresh increase above the $0.170 and $0.172 levels. The price is trading above the $0.1750 level and the 100-hourly simple moving average. There is a connecting bullish trend line forming with support at $0.1740 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start a fresh increase if it clears the $0.180 resistance zone. Dogecoin Price Aims Higher Dogecoin price started a fresh increase after it found support near $0.1650, like Bitcoin and Ethereum . DOGE climbed and recovered above the $0.170 resistance zone. The bulls even pushed the price above the 50% Fib retracement level of the downward move from the $0.1843 swing high to the $0.1642 low. Besides, there is a connecting bullish trend line forming with support at $0.1740 on the hourly chart of the DOGE/USD pair. Dogecoin price is now trading above the $0.1750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1780 level. The first major resistance for the bulls could be near the $0.1790 level and the 76.4% Fib retracement level of the downward move from the $0.1843 swing high to the $0.1642 low. The next major resistance is near the $0.1840 level. A close above the $0.1840 resistance might send the price toward the $0.1880 resistance. Any more gains might send the price toward the $0.1920 level. The next major stop for the bulls might be $0.200. Another Decline In DOGE? If DOGE’s price fails to climb above the $0.1790 level, it could start another decline. Initial support on the downside is near the $0.1740 level. The next major support is near the $0.1720 level. The main support sits at $0.1650. If there is a downside break below the $0.1650 support, the price could decline further. In the stated case, the price might decline toward the $0.1550 level or even $0.1450 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1740 and $0.1720. Major Resistance Levels – $0.1790 and $0.1850.
In a recent podcast interview on May 8th, Binance CEO CZ revealed that he has formally submitted a pardon request to the Trump administration via his legal counsel. This request
Trump’s explosive foray into crypto faces a blistering Senate probe targeting token profiteering, foreign deals, and alleged presidential pay-to-play schemes that could shatter ethical boundaries. Trump Crypto Empire Dragged Into Probe Over Elite Access and Foreign Cash U.S. Senator Richard Blumenthal (D-CT), Ranking Member of the U.S. Senate Permanent Subcommittee on Investigations, announced on May