North Carolina Proposes Investing Public Funds in Bitcoin

North Carolina has introduced a bill to allocate up to 10% of its general and highway funds to Bitcoin, backed by House Speaker Destin Hall. Hall argues the move could generate returns and position the state as a tech leader.

This follows a growing trend, with 23 states actively considering similar crypto investments. Wisconsin and Michigan already hold crypto in public pension funds, while Utah’s bill has advanced to its Senate. Maryland, Kentucky, and Iowa are also exploring Bitcoin-related legislation.

Despite some resistance—North Dakota recently rejected a similar proposal—many states see Bitcoin as a strategic reserve asset. While federal legislation remains uncertain, the race to adopt crypto at the state level is accelerating.

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Elon Musk and Investors Offer $97.4 Billion for OpenAI, Sam Altman Fires Back

Elon Musk and a group of investors made an unsolicited $97.4 billion bid to acquire the nonprofit that oversees OpenAI, according to The Wall Street Journal. The offer is the latest development in the ongoing feud between Musk and OpenAI CEO Sam Altman.

Altman swiftly rejected the proposal on 𝕏, Musk’s social media platform, responding, “no thank you but we will buy Twitter for $9.74 billion if you want.” Musk fired back, calling Altman a “swindler,” escalating tensions between the two tech figures.

Michael Saylor’s Strategy Buys 7,633 More Bitcoin, Pushing Holdings to $46 Billion

Despite its recent rebrand from MicroStrategy to Strategy, Michael Saylor’s firm remains committed to its aggressive Bitcoin accumulation. The company has purchased another 7,633 BTC for $742 million at an average price of $97,255 per coin, bringing its total holdings to 478,740 BTC—now worth $46 billion.

This latest move follows a brief pause in acquisitions after the name change. Strategy has ambitious plans to raise over $42 billion in the next two years to further expand its Bitcoin treasury. On February 5, it completed a public offering of 7.3 million preferred shares, raising $563 million, with more than $31 billion already invested in Bitcoin to date.

Grayscale Seeks SEC Approval for First Spot Cardano ETF via NYSE Arca

NYSE Arca, a subsidiary of the New York Stock Exchange, has filed a 19b-4 form on behalf of Grayscale to launch a spot Cardano (ADA) exchange-traded fund (ETF). If approved, the Grayscale Cardano Trust would be the first ADA-based ETF, with Coinbase Custody Trust as the custodian and BNY Mellon handling administration.

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The filing marks the second step in the SEC’s review process, which begins once the agency acknowledges the proposal. The move comes as firms accelerate efforts to introduce various crypto ETFs, including those tied to Dogecoin, XRP, and Solana. Under a new administration, expectations for a more favorable SEC stance on crypto remain high.

Bloomberg Analysts Predict 90% Chance of Spot Litecoin ETF Approval in 2025

Bloomberg ETF analysts James Seyffart and Eric Balchunas estimate a 90% likelihood that the SEC will approve a spot Litecoin ETF before the end of 2025. They consider Litecoin’s chances higher than those of proposed ETFs for XRP (65%), Solana (70%), and Dogecoin (75%).

The analysts note that Litecoin’s proof-of-work consensus mechanism and its classification as a commodity make its approval path more straightforward. The SEC has already acknowledged the necessary S-1 and 19b-4 filings.

While demand for a Litecoin ETF may not match Bitcoin or Ethereum’s $40.7 billion and $3.18 billion inflows, analysts believe it could still be profitable for issuers. The SEC’s final decision on multiple crypto ETFs, including Litecoin, Solana, XRP, and Dogecoin, is expected between October 2 and October 18, 2025.