Arizona passes HB2324 to create Bitcoin reserve funded by seized crypto, pending governor’s signature

Ryan VanGrack, Vice President of Legal at Coinbase, claimed that crypto regulation is not a partisan issue while testifying before the Senate Committee on Banking, Housing, and Urban Affairs on Tuesday. Ryan VanGrack Urges Clear, National Framework At the June 24 hearing entitled “Exploring Bipartisan Legislative Frameworks for Digital Asset Market Structure,” VanGrack urged U.S. lawmakers to develop “a responsible and robust legal framework” that works for all Americans. “Crypto regulation is not, and never should be, a partisan issue,” VanGrack said. “Economic empowerment, financial innovation, and customer protection are not Republican or Democratic values; they are American values.” Appearing alongside several heavyweight names in the crypto regulatory sector, the Coinbase executive also criticized the United States’ lack of clear market structure when it comes to the digital asset sector. “The absence of clear rules for market structure has forced economic opportunities to move offshore and has left customers behind,” he added. “Regulatory uncertainty doesn’t just carry risks—it actively holds back progress.” Congress Must Act Fast, Lummis Says VanGrack’s comments came shortly after Senate Banking Chairman Tim Scott (R-SC), Senator Cynthia Lummis (R-WY), Senator Thom Tillis (R-NC), and Senator Bill Hagerty (R-TN) introduced six central principles for the development of comprehensive market structure legislation. 🚨NEW: @SenatorTimScott , @SenLummis , @SenThomTillis , & @SenatorHagerty unveiled principles for digital asset market structure legislation. These will guide bipartisan efforts to bring regulatory clarity, foster innovation, & protect investors. Read more: https://t.co/5NVwlsUvlZ — U.S. Senate Banking Committee GOP (@BankingGOP) June 24, 2025 “For too long, a lack of clear regulatory authority has forced digital asset innovation beyond our borders and subjected issuers, exchanges, and developers to crippling uncertainty, ” Senator Hagerty said. “By working towards a reasonable, light-touch market structure framework, we can help bolster our nation’s economy and protect American consumers,” he added. The Senate has been a hotbed of crypto activity lately, with the GENIUS Act passing through the chamber just last week in a key victory for digital asset legislation in the United States. Following the GENIUS Act’s advancement to the House, Lummis warned that “Congress must act quickly” to enact additional crypto regulatory measures in order to bolster the legislation. “The success of the GENIUS Act hinges on comprehensive market structure legislation that protects consumers, establishes transparency, and creates clearly defined trading regulations,” Lummis said.

Metaplanet has added another 1,234 Bitcoin to its treasury, bringing its total holdings to 12,345 BTC, as the Japanese firm continues to ramp up its ambitious digital asset strategy. The latest acquisition, confirmed in a filing on Thursday, reflects the company’s ongoing pivot toward Bitcoin as a core treasury asset. The purchase adds to a string of high-profile moves by Metaplanet this month, including the launch of its sweeping “555 Million Plan,” aimed at raising $5.4b to buy 210,000 Bitcoin by 2027. That figure would represent roughly 1% of the cryptocurrency’s fixed 21m supply. *Metaplanet Acquires Additional 1,234 $BTC , Total Holdings Reach 12,345 BTC* pic.twitter.com/ppeGIrfVfe — Metaplanet Inc. (@Metaplanet_JP) June 26, 2025 With 54M New Shares Issued, Metaplanet Intensifies Its Push To Corner 1% Of Bitcoin’s Total Supply On June 24, Metaplanet announced it had raised more than $517m on the first day of the 555m Plan through the issuance of 54m shares. That equity was exercised by EVO Fund under an earlier stock acquisition rights agreement. Thursday’s filing reveals that Metaplanet acquired Bitcoin at an average price of ¥15,617,281 per BTC, which translates to about $107,900. The scale of the latest buy cements Metaplanet’s position as one of the largest public corporate holders of Bitcoin in Asia. At current prices, the company’s Bitcoin treasury is worth over $1.3b, according to market trackers. Its holdings are now roughly equivalent to what Tesla held at peak before selling a portion in 2022. Metaplanet’s Bitcoin Bet Channels MicroStrategy’s Playbook as Shares Surge The company’s strategy mirrors that of US-based MicroStrategy, which has turned Bitcoin accumulation into a long-term balance sheet strategy. Like MicroStrategy, Metaplanet has pursued equity-linked funding tools to fuel its BTC acquisitions, positioning the stock as a proxy for Bitcoin exposure in traditional capital markets. Since announcing its Bitcoin pivot in April 2024, Metaplanet’s shares have surged more than 500%, drawing interest from both retail traders and global investors looking for regulated exposure to the cryptocurrency. The firm, originally a hospitality business, has rebranded its market identity around Bitcoin in recent months, even naming the strategy a “corporate awakening.” While Metaplanet has not commented on specific future purchase timelines, it has outlined a clear target: to hold more than 200,000 BTC within three years. The company has stated that 96% of all funds raised under the 555M Plan will be allocated toward Bitcoin acquisition, with the remainder used for bond redemptions and yield strategies. With each major purchase, Metaplanet is tightening its alignment with Bitcoin’s long-term thesis as a hedge against inflation and currency debasement.