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Lummis

Sen. Lummis Gears Up To Present 1 Million Bitcoin Acquisition Bill To The Senate Next Week

by admin May 28, 2025

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At the Bitcoin 2025 conference in Las Vegas on Tuesday, Senator Cynthia Lummis, a staunch advocate for BTC and cryptocurrencies, announced that President Donald Trump supports the upcoming Bitcoin Act, which aims to facilitate the purchase of 1 million BTC and is expected to be introduced to Congress next week.

Long-Term Bitcoin Investment Strategy

Originally proposed by Lummis on July 31, 2024, the legislation seeks to establish a strategic BTC reserve for the US government, serving as an additional store of value to strengthen the nation’s balance sheet.

The bill outlines a BTC Purchase Program designed to acquire approximately 5% of the total Bitcoin supply over a five-year period, mirroring the scale of US gold reserves. The BTC acquired would be held for a minimum of 20 years, ensuring a long-term investment strategy.

Following challenges faced by the previous administration under President Joe Biden, Lummis reintroduced the bill in March of this year, emphasizing the importance of institutional support for Bitcoin.

A number of crypto industry leaders have also suggested innovative ways to implement this executive order, including proposals to use BTC for refinancing national debt.

US Government May Hold 200,000 BTC

One notable suggestion comes from the Bitcoin Policy Institute, which proposed the introduction of “BitBonds.” These would be structured US Treasury bonds that allocate 90% of the proceeds to traditional funding operations, while 10% would go toward BTC acquisition.

The Institute estimates that, assuming a scale of $2 trillion in BitBonds, this initiative could generate annual interest savings of approximately $700 billion over a decade.

Matthew Sigel, head of digital asset research at VanEck, echoed this proposal during the Strategic Bitcoin Reserve Summit on April 15.

VanEck’s plan also includes a similar 90%-10% bond structure, offering investors potential BTC gains with a cap of 4.5% annual yield. Any gains exceeding this threshold would be split equally between the government and bondholders.

While Lummis is enthusiastic about advancing the Bitcoin Act, the path to full Congressional approval remains uncertain. The success of the bill will depend on garnering support from her Senate colleagues, critical for increasing the nation’s Bitcoin holdings.

Fox journalist Eleanor Terret reported on X (formerly Twitter) that Lummis indicated the US government currently holds around 200,000 BTC. However, she noted that the information is not fully transparent due to classification following a mandated audit from the White House.

The daily chart shows BTC’s price pullback. Source: BTCUSDT on TradingView.com

When writing, the market’s leading cryptocurrency trades at $108,975, recording a slight retrace of 0.5% in the 24-hour time frame and 2.5% when compared to its record high of $111,800 reached last week.

Featured image from DALL-E, chart from TradingView.com

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May 28, 2025 0 comments

Crypto Trends

US Bill for $1B Bitcoin Buy is Coming with Trump Support: Lummis

by admin May 27, 2025

At the Bitcoin 2025 Conference held in Las Vegas today, Senator Cynthia Lummis said that President Donald Trump supports her proposed Strategic Bitcoin Reserve Act to authorize the United States to purchase one million bitcoins over five years.

Speaking on stage alongside Senator Marsha Blackburn of Tennessee and Senator Jim Justice of West Virginia, Lummis shared that Trump has a team in the White House focused on digital assets. This bill called the “BITCOIN Act” was first introduced in July 2024 but did not pass. Now it’s back with updates.

Sen Lummis claim President Trump support the BITCOIN Act | Source: Cryptotimes

“President Trump supports the bill,” she said. Lummis added, “And he has a team in the White House working on digital assets — everything from stablecoins to market structure to Bitcoin Strategic Reserve.”

Lummis acknowledged that state-level interest is growing fast. “So you have Arizona, Texas and New Hampshire that passed Strategic Bitcoin Reserve bills this year,” she said,

She also noted that that other countries are getting involved too. “30 states consider Strategic Bitcoin Reserves. We have the United Arab Emirates purchasing Bitcoin through American exchange traded funds — that’s good for America,”

Senator Marsha Blackburn backed Lummis with some words that U.S. leadership could set the trend globally. “Many of our allies follow what we do,” Blackburn said. “Everybody wants to be a part of our market, they want to be a part of our trade. And they will follow what we do.” She said countries are already setting up their own bitcoin reserves and that the U.S. should act fast.

Senator Justice added that Bitcoin will catch on faster once everyday people begin using it for basic purchases. “We have got to get the economics right,” he said. He further added, “When the average, everyday person is using Bitcoin to purchase their necessities… legislation will start happening at light speed.”

Lawmakers in Texas passed Senate Bill 21 on May 21 for the creation of a state-run Bitcoin reserve. The bill was passed to Governor Greg Abbott who has ten days to sign it or let it become law without signing. Other states like North Carolina have indeed followed. New Hampshire approved its Bitcoin reserve bill on May 7, becoming the first U.S., stake to pass the bill into law.

Also Read: Crypto Market Structure Bill Rep. Hill Sets June 10 Markup Date

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May 27, 2025 0 comments

Crypto Trends

Ripple CEO Clashes With Senate Crypto Chair Lummis

by admin May 20, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A simmering dispute between Ripple Labs chief executive Brad Garlinghouse and Senator Cynthia Lummis (R-Wyo.) burst into the open on Monday, May 19, after the senator’s staff cancelled a meeting with the fintech executive and declined to offer a new date.

Ripple CEO Starts Public Dispute

Garlinghouse, already in Washington to lobby for the pending GENIUS Act on stablecoins and for broader market-structure reform, took the unusual step of airing the dispute on X. “Heading to DC to champion sensible pro-crypto legislation … That said, @SenLummis, as Chair of the Digital Assets Subcommittee, cancelled a meeting with me (and won’t reschedule),” he wrote, before challenging the senator to debate him “anytime” in an X Space or on stage at upcoming industry conferences.

“As a leader in Congress and Senator from one of the most crypto-friendly states (WY), I hope you will reconsider and be a leader for ALL of crypto. I invite you to join me on an X Space anytime (or a live convo onstage at one of the many events we cross paths at) to talk about how to make the US the crypto capital of the world, as is the goal of the Trump Administration. I will continue to do everything possible to support that goal,” Garlinghouse wrote via X.

Senator Lummis has not commented publicly on the cancellation, but her office confirmed she is concentrating this week on floor action related to the stable-coin bill, which cleared a 65-32 procedural vote in the Senate on Tuesday morning and will now face a lengthy amendment process.

The Wyoming Republican—long celebrated by Bitcoin advocates—was tapped in January to chair the Banking Committee’s new Subcommittee on Digital Assets, a post that gives her first crack at shaping federal crypto legislation. At the time of her appointment she declared that “digital assets are the future” and pressed colleagues to establish a Strategic Bitcoin Reserve.

Garlinghouse’s public rebuke exposed a deepening philosophical divide: the Ripple chief argues that US policy must be “multichain,” whereas Lummis has positioned herself as the Senate’s fiercest pro-Bitcoin voice.

Bitcoin Maximalists Cheer, Ripple Allies Bristle

The senator’s supporters inside the Bitcoin community applauded the snub. Troy Cross of the Bitcoin Policy Institute thanked Lummis: “Just when you thought Lummis couldn’t be a better Bitcoiner. Sen Lummis for keeping the scammers at bay.”

Pierre Rochard, vice-president of research at Riot Platforms, derided Garlinghouse on X, claiming he had “ruined [his] reputation and lost all credibility by pushing for CBDCs and against Bitcoin,” while market commentator Joe Consorti said the Ripple chief’s “lifetime of bashing Bitcoin” had left him with “zero credibility.”

XRP partisans fired back. Influential content creator Crypto Eri told her followers that the senator’s “Bitcoin-maxi moves hurt the entire ecosystem.” Australian attorney Bill Morgan reposted Garlinghouse’s thread with the warning that Lummis “is a champion of Bitcoin exceptionalism, not a level playing field.” Fellow lawyer Fred Rispoli dismissed the cancellation as staff-level gamesmanship, writing, “A staffer cancelled it for her … a lobbyist told the staffer to cancel it.”

At press time, XRP traded at $2.39.

XRP holds above the 0.382 Fib, 1-day chart | Source: XRPUSDT on TradingView.com

Featured image from YouTube, chart from TradingView.com

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May 20, 2025 0 comments

GameFi Guides

Ripple CEO Calls Out Senator Lummis for Canceled Meeting

by admin May 20, 2025

Brad Garlinghouse criticizes Senator Lummis
Canceled meeting raises questions

The leader of Ripple Labs, Brad Garlinghouse, is going to Washington, aiming to help improve crypto regulations, especially as they concern stablecoins.

In a post on X, Garlinghouse expressed hope that those in power will see crypto as a diverse and rapidly growing industry, while raising some concerns over the cancelation of previously scheduled meeting with the U.S. Senator.

Brad Garlinghouse criticizes Senator Lummis

Mr. Garlinghouse has criticized Senator Cynthia Lummis for canceling a previously scheduled meeting and showing no signs of wanting to reschedule. According to Garlinghouse, Senator Lummis comes from a state that is very open to cryptocurrencies.

Because of this, he urged her to take the lead, since she is in charge of the digital asset committee. He even suggested discussing the matter publicly, through a live event if their paths cross, or over X Spaces.

Heading to DC to champion sensible pro-crypto legislation around stablecoins and market structure, and I’m very encouraged to see our elected officials look at crypto as it should be – a multichain industry.

That said, @SenLummis, as Chair of the Digital Assets Subcommittee,…

— Brad Garlinghouse (@bgarlinghouse) May 19, 2025

According to Garlinghouse, it is vital to strengthen the U.S. lead in cryptocurrency, as it aligns with the administration’s main intentions. He stated he will continue to support laws that promote innovation.

Canceled meeting raises questions

While lawmakers consider crucial crypto legislation, some advocate for more regulations, while others argue for a lighter touch to foster innovation. Many analysts say the canceled meeting with Sen. Lummis highlights how members of Congress may be reluctant to engage with industry leaders to improve the space.

Although Brad Garlinghouse expressed frustration in his remarks, his comments reveal that he remains committed to pushing for clearer rules as crypto grows in popularity.