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Proof of Reserves

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Texas Bitcoin Reserve Program advances, federal push faces delays

2026-05-29 21:23:13

Abstract generation in progress

CryptoWorld News reports that Texas has made progress on its Bitcoin reserve plan, establishing a new advisory committee to guide the state's strategic Bitcoin reserves. Acting Comptroller Kelly Hancock will serve as a member of the five-person committee, responsible for custody, valuation, and management of Bitcoin. The committee was formed under Senate Bill 21, passed on June 22, 2025, granting the Comptroller's Office authority to manage the reserve. Committee members include Laurie Dott, chair of the Investment Advisory Committee; Jamie McCavitt, founder and CEO of Cormint Data Systems; and Carla Reyes, a law professor at Southern Methodist University. The Comptroller's Office also issued a proposal requesting qualified crypto custodians, covering secure custody and asset management. The reserve is currently held through BlackRock's iShares Bitcoin Trust, with approximately $10 million in investments, planning to transition to direct Bitcoin holdings within 60 days of contract signing. Meanwhile, the federal government is also advancing its own Bitcoin reserve, with President Trump signing an executive order in March 2025, instructing the Treasury to create a reserve using Bitcoin obtained through confiscation.

BTC0.58%

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MosaicBowtieRealm

· 6h ago

The federation confiscates coins for reserves, Texas buys on its own, two lines run parallel without conflict

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EbbShellLedger

· 15h ago

Trump's March executive order, Texas's June legislation, the red states' coordinated pace is acceptable

View OriginalReply0

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