US states may start holding Bitcoin reserves before the federal government, according to Senator Cynthia Lummis. Speaking at the Bitcoin Investor Week conference in New York, Lummis suggested that individual states are moving faster than Washington in recognising Bitcoin’s strategic value.
Lummis had previously proposed the BITCOIN Act, a bill that would require the US Treasury to gradually accumulate 1 million BTC, mirroring the scale of the country’s gold reserves. While President Trump has signed orders to explore a national Bitcoin stockpile and a sovereign wealth fund, state-level initiatives appear to be progressing more rapidly.
At least 18 states currently have crypto reserve bills under review, with Arizona and Utah nearing approval. Some Democrat-led states may push back, but crypto support is growing across party lines. Coinbase’s US policy manager Ashley Gunn noted that many pro-crypto states do not strictly align with traditional political divisions.
Bitcoin adoption in the US has already surged with the launch of exchange-traded funds (ETFs), but analysts believe a government-backed Bitcoin reserve would be an even bigger milestone. With Bitcoin ETFs now holding over $100 billion worth of BTC, the prospect of states or federal institutions joining the trend could further accelerate adoption.
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Chinese AI startup Zhipu AI has raised over 1 billion yuan ($137.22 million) in new funding, following a previous 3 billion yuan investment in December. The latest funding round comes amid growing competition in China’s AI sector, particularly with rival DeepSeek’s large language models, which claim to rival Western models at a lower cost.
Investors in the new round include the state-backed Hangzhou City Investment Group Industrial Fund and Shangcheng Capital. Zhipu AI plans to use the funds to enhance its GLM language model and expand its AI ecosystem, with a focus on businesses in Zhejiang province and the Yangtze River Delta region.
Founded in 2019, Zhipu AI has completed 16 funding rounds and is considered one of China’s leading AI startups. The company aims to release a range of new AI models, including foundation and multimodal models, as part of its open-source strategy. The funding comes as competitors like DeepSeek continue to disrupt the AI landscape with open-source models that challenge established platforms.
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More than 600 Russian crypto mining firms and infrastructure operators have now registered with the country’s Federal Tax Service (FTS), according to an official report. This includes 518 miners and 91 other operators, such as hosting services and data centres. By November 2024, all mining firms using over 6,000 kWh of electricity per month will be required to register with the FTS.
Although crypto mining is not yet taxed in Russia, the government is preparing a bill that would impose levies on miners’ incomes. The FTS has also reminded miners using over 6,000 kWh monthly to report the cryptocurrency they have mined, signalling that some have yet to comply.
The registration process has been described as running smoothly, with FTS officials stating that miners signing up would ensure safer operations. The register also requires firms to report detailed information, including their mined crypto, transaction data, and wallet addresses.
Experts estimate that the top Russian crypto mining companies generated over 20 billion rubles in revenue in 2023, amounting to approximately $223.9 million.
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Vodafone UK has teamed up with IBM to explore quantum-safe cryptography as part of a new Proof of Concept (PoC) test for its mobile and broadband services, particularly for users of its ‘Secure Net’ anti-malware service. While quantum computers are still in the early stages of development, they could eventually break current internet encryption methods. In anticipation of this, Vodafone and IBM are testing how to integrate new post-quantum cryptographic standards into Vodafone’s existing Secure Net service, which already protects millions of users from threats like phishing and malware.
IBM’s cryptography experts have co-developed two algorithms now recognised in the US National Institute of Standards and Technology’s first post-quantum cryptography standards. This collaboration, supported by Akamai Technologies, aims to make Vodafone’s services more resilient against future quantum computing risks. Vodafone’s Head of R&D, Luke Ibbetson, stressed the importance of future-proofing digital security to ensure customers can continue enjoying safe internet experiences.
Although the PoC is still in its feasibility phase, Vodafone hopes to implement quantum-safe cryptography across its networks and products soon, ensuring stronger protection for both business and consumer users.
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The Swiss National Bank (SNB) has rejected the idea of adding Bitcoin to its reserve assets, with President Martin Schlegel citing concerns over volatility, liquidity, and security risks. He argued that Bitcoin’s price fluctuations make it unsuitable for Switzerland’s monetary policy needs, as reserves must remain highly liquid for rapid deployment.
The stance contradicts efforts by the Swiss Bitcoin think tank 2B4CH, which is pushing for a referendum to mandate Bitcoin as part of the SNB’s reserves. The initiative, launched in late 2023, needs 100,000 signatures by mid-2026 to move forward. Despite growing interest in institutional adoption, Schlegel dismissed Bitcoin as a ‘niche phenomenon’ and insisted it poses no threat to the Swiss franc.
While Switzerland remains hesitant, other countries are embracing Bitcoin reserves. El Salvador continues to accumulate the asset, and the US, Czech Republic, and Hong Kong are considering similar moves. Meanwhile, several US states are introducing legislation to support Bitcoin adoption, even as Switzerland maintains a cautious approach.
Bitcoin is currently trading at around $86,000, with analysts watching key price levels for a potential rally. Despite the SNB’s resistance, Switzerland remains a major hub for crypto innovation, particularly in Lugano, where Bitcoin adoption continues to expand.
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British startup Wayve has announced plans to open a new testing and development hub in Germany, deploying a fleet of test vehicles in the Stuttgart region. The self-driving technology firm aims to enhance features like lane change assistance at the new facility, which will focus on improving its “Embodied AI” system that learns from human behaviour.
Wayve, which operates in the UK and the US, is expanding into Germany as part of its strategy to enter the European market, particularly Germany, the continent’s largest automotive hub. The company received a boost earlier this year, with Uber investing in August and SoftBank leading a $1 billion funding round in May, supported by Nvidia.
Despite the significant investments in autonomous vehicle technology, self-driving systems still face challenges in predicting and assessing risks as accurately as human drivers. Wayve’s technology is already integrated into six vehicle platforms, including electric models like the Jaguar I-PACE and Ford Mustang Mach-E, as part of advanced driver assistance systems (ADAS).
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Singapore‘s government is investigating a fraud case involving servers supplied by US companies, potentially containing Nvidia’s advanced chips. Three men, including a Chinese national, were charged last week in connection with the alleged illegal transfer of these AI chips from Singapore to Chinese firm DeepSeek. Singapore’s Home Affairs and Law Minister K Shanmugam confirmed that the servers were provided by Dell Technologies and Super Micro Computer to local firms before being sent to Malaysia.
Authorities are still unsure whether Malaysia was the final destination, but they are working with US officials to determine if the servers contained restricted US export-controlled items. The US is already investigating whether DeepSeek has used banned Nvidia chips, which could lead to violations of export laws. The case forms part of a broader probe into suspected smuggling activities linked to AI chips being moved from countries like Singapore to China.
Singapore, a key market for Nvidia, is also examining allegations that DeepSeek may have acquired thousands of advanced Nvidia chips illegally. However, DeepSeek has denied these claims, stating that it only used legally purchased chips, including the Nvidia H800 model. The investigation is ongoing, with Singapore continuing to cooperate with US authorities.
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The cryptocurrency market saw a massive $300 billion boost after Donald Trump reaffirmed his commitment to making the US the world’s crypto leader. His latest executive order establishes a national crypto reserve, set to include Bitcoin, Ethereum, XRP, Solana, and Cardano.
Bitcoin surged past $93,000, jumping 8% in a day, while Ethereum climbed 11%. Altcoins rallied even harder—Cardano skyrocketed 66%, Solana rose 20%, and XRP soared 28%, overtaking USDT to become the third-largest cryptocurrency. Despite the market’s enthusiasm, the Crypto Fear & Greed Index remains in the ‘Fear’ zone at 33.
Trump’s plan signals a shift from simply holding Bitcoin to actively building a strategic reserve. While some welcome the move as a push for US dominance in digital assets, others argue government control could destabilise the dollar or become subject to political shifts.
Investors are now eyeing the upcoming crypto summit, where key policy details will be revealed. With expectations high, the market awaits clarity on regulations and the long-term impact of the reserve.
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Chinese smartphone maker Honor plans to invest $10 billion over the next five years to develop AI for its devices as it prepares for a public listing. CEO James Li revealed at the Mobile World Congress in Barcelona that the company aims to expand beyond smartphones into AI-powered PCs, tablets, and wearables.
Honor’s push into AI comes after completing a shareholder restructuring in December, bringing it closer to an initial public offering, though no timeline has been set. The announcement also aligns with a surge in AI investment in China, driven by the popularity of DeepSeek’s affordable language models.
While Honor’s market share in China slipped from second to fourth place last year, it has gained significant support from the Shenzhen government, including R&D funding and tax breaks. The company is also focusing on expanding internationally as it strengthens its AI capabilities.
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Colombian lawmakers have launched a fresh bid to regulate the nation’s growing cryptocurrency industry, aiming to provide legal clarity and consumer protection. The proposed bill, backed by Senator Gustavo Moreno and Congress Representative Julián López, seeks to create rules that safeguard users while encouraging investment. Lawmakers warn that the current lack of regulation leaves the sector vulnerable to fraud, financial crime, and uncertainty.
With over five million Colombians using crypto and transactions reaching $6.7 billion in 2024, concerns over scams and illicit activities have intensified. The Superintendencia Financiera de Colombia has been working on crypto-related pilots since 2021, but no solid regulatory framework has emerged. The bill proposes a licensing system for Virtual Asset Service Providers (VASPs), ensuring compliance with anti-money laundering and counter-terrorist financing laws.
Supporters argue that clear regulations will boost investment and integrate crypto into the national financial system. However, critics caution against excessive restrictions that could push businesses abroad. Some investors stress the importance of fair taxation, warning that heavy tax burdens could discourage crypto adoption rather than support its growth.
The bill, covering areas such as consumer protection, marketing rules, education, and taxation, aims to create a balanced approach. While debates continue, Colombia faces a crucial decision—whether to foster innovation or risk falling further behind in the global crypto market.
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