WHAT’S BREWING IN CRYPTO NEWS?
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To make sure you can stay up-to-date as well, we’re delivering key news stories for you to digest with your morning coffee. It’s the exhilarating world of crypto, one byte at a time.
Let’s see what’s brewing.
This Week: Wyoming Proposes Bill for Bitcoin Reserve
January 27, 2025
Wyoming has proposed a bill to create a Strategic Bitcoin Reserve, cementing the state’s place as a national leader in cryptocurrency adoption. The visionary bill is called the “State Funds-Investment in Bitcoin” (HB0201), brought forward by Representative Jacob Wasserburger on January 17. If it passes, Wyoming can invest up to 3% of its general fund, mineral trust fund, and land fund into Bitcoin.
Here’s the key part: even though there’s a 3% cap on how much of these funds can be invested, it’s only based on the original investment. If the value of Bitcoin goes up and pushes the holdings above 3%, the state treasurer doesn’t need to sell any Bitcoin to bring it back down to that limit.
This legislation builds on Wyoming’s history of financial innovation, such as creating the Special Purpose Depository Institution (SPDI) framework and passing other Bitcoin-friendly laws. Senator Cynthia Lummis is a big supporter of Bitcoin, highlighting how its decentralized and inflation-proof nature could strengthen Wyoming’s financial future.
But Wyoming isn’t the only state to consider a Bitcoin reserve. Massachusetts and Texas are also exploring similar ideas, with Massachusetts even eyeing a bolder move to allocate up to 10% of its stabilization fund to digital assets. Across the country, around 15 states are kicking around the idea of Bitcoin reserve plans as part of their investment strategies. On the global stage, places like El Salvador and Bhutan have already worked Bitcoin into their financial game plans.
Wyoming’s plan aligns snuggly with the bigger push to use Bitcoin as a safety net against economic ups and downs, kind of like digital gold. If adopted widely and managed effectively, Bitcoin could help cut national debt and promote more economic freedom.
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This Week: Alpen Labs Raises $8.5M to Build Bitcoin Platform
January 20, 2025
Alpen Labs, a company building financial tools for Bitcoin, recently raised $8.5 million in funding. This transformative funding round was led by two groups called Cyber Fund and DBA, with additional support from Ribbit Capital, Castle Island Ventures, and Geometry, who had backed Alpen in earlier funding efforts.
Alpen Labs is a company that creates tools to expand Bitcoin’s usefulness beyond payments. This hefty $8.5 million will be used to build a new system called Strata. Strata’s goal is to make Bitcoin easier to use by adding features like secure, self-managed wallets and private, user-friendly payment options.
Strata will officially launch in February, but people can start exploring it next month when the test version, called a “testnet,” becomes available. Developers can start even sooner with a special developer version.
Strata will be an open platform, meaning anyone can use or build on it. The goal is to expand Bitcoin’s functionality beyond your standard buying and selling. For example, Strata will operate through self-custody, meaning people can store their Bitcoin without needing a bank or middleman. It also promises to make payments simple and private, connect Bitcoin with other systems, and introduce stablecoins. Strata will even allow Bitcoin to back loans, so you can borrow money without selling your Bitcoin.
For many people, Bitcoin is a digital currency used mainly for investments or speculative trading. But with Strata, Bitcoin will transform into a practical tool for everyday use.
This funding marks a big step forward for Alpen Labs as they work to launch Strata. It packs Bitcoin with more features and makes it accessible to everyone, not just tech-savvy users.
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This Week: Jeju Island Plans NFT Cards to Reel in Young Tourists
January 13, 2025
Jeju Island, South Korea’s tropical hotspot, is turning to NFTs to reel in younger visitors. The island plans to roll out NFT-powered tourist cards aimed squarely at millennials and Gen Z. These cards, debuting with a trial run in late 2025, come packed with goodies like travel subsidies, membership perks, and discounts at local attractions – basically a sweet deal to get folks coming back for more while boosting local businesses.
The NFT cards are tied to Jeju’s local digital currency, Tamna Jeon. This stablecoin has been around since 2019, powering prepaid cards for merchants and residents. Now, tourists can benefit, too, using the currency to snag deals as they explore. Plus, they’ll have a chance to document their trips – think dates, photos, and all the fun stuff – on a blockchain platform connected to the NFTs.
During the pandemic, domestic tourism on Jeju island tanked, especially among younger visitors. Now, by incorporating NFTs into its tourism strategy, the island is aiming to bounce back and pump some fresh energy into the economy.
South Korea has some strict rules on crypto, but Jeju’s leaders seem pretty confident, especially given that the island is no stranger to blockchain. This is just the latest in a string of tech-savvy moves, including the launch of Tamna Jeon and blockchain-based services like traffic management and VAT refunds for tourists.
If you’re getting excited – you should be! Jeju’s new NFT cards could set the standard for travel hotspots worldwide, meaning you could swim and sunbathe with the breezy perks of NFTs.
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This Week: 2025 Crypto Predictions – A Bullish Year Ahead
December 26, 2024
What a year, folks!
The 2024 crypto market was on fire with big moves and breakthroughs. Bitcoin ETFs grabbed the attention of institutions and everyday investors. Ethereum and Solana hit new highs with Layer 2 scaling, and Bitcoin capped off the year by shattering records with over $106,000. With clearer regulations and crypto adoption picking up speed, 2025 is shaping up to be another blockbuster year. Let’s see what’s potentially in store.
1. Bitcoin’s Ascent to $200K
As corporations and governments increasingly show interest in Bitcoin and we see a continuation in ETF inflows, Bitwise Asset Management predicts Bitcoin’s price could reach $200,000 in 2025.
2. Ethereum’s Layer 2 Boom
Layer 2 solutions are getting more popular as companies like Sony and Kraken jump into blockchain projects. These solutions make Ethereum faster and cheaper to use. The Pectra upgrade is also on the horizon, and it’ll boost network efficiency and improve how everything runs.
3. Tokenized Real-World Assets
Tokenization is about to go mainstream. People are already looking at tokenizing unconventional assets like churches. This shift could completely change how we think about investment portfolios. Some say by 2025, the market for tokenized assets could blow past $50 billion.
4. AI-Powered Meme Coins
AI-powered meme coins made a mark in 2024 when a chatbot helped propel one to a shocking 1.5 billion market cap. Some analysts predict 2025 will be their breakout year with smarter designs, real utility like AI-driven trading tools, and a healthy dose of irreverent pop culture.
Here we go! Innovation is building every day, and 2025 will be a pivotal year for cryptocurrency. Hold on to your wallets, and saddle up for the crypto bull ride.
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