PANews reported on June 22 that according to The block, Texas Governor Greg Abbott has signed SB 21, becoming the third state to set up a Bitcoin reserve after Arizona and New Hampshire. The fund is set up outside the usual state finance department and will be managed by Texas Public Accounts Comptroller Glenn Hegar. Greg Abbott also signed HB 4488, which isolates Bitcoin reserves from other state government funds and protects them from the regular "fund transfers" from the state treasury to general revenue. The bill also guarantees that the legality of Bitcoin reserves will remain valid even if no Bitcoin is purchased by next summer.



Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle. Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more