California revokes BlockFi’s license amid bankruptcy, Caroline Ellison is sentenced, Crypto.com faces scrutiny in Poland, and Senator Cynthia Lummis supports *****’s Bitcoin reserve proposal.
United States Senator Cynthia Lummis expressed support for President-elect Donald *****’s proposal for a Bitcoin (BTC) reserve after ***** won the 2024 US presidential elections on Nov. 5.
Lummis, a Wyoming Republican and strong crypto advocate, highlighted her intention to pursue the legislation in the Senate, suggesting the US acquire 1 million BTC — about 5% of its supply — and hold it for at least 20 years.
This initiative builds on *****’s idea that the government should hold, rather than liquidate, its seized Bitcoin assets. The proposal comes as Republicans prepare for Senate majority control.