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Texas is moving ahead with its Strategic Bitcoin Reserve Bill, SB21 , now put for vote. The bill, which signals the state’s growing adoption of Bitcoin, could make Texas the first state in the US in digital asset adoption. At the same time, on a national level, President Donald Trump is set to reveal a major cryptocurrency policy shift at the first-ever White House crypto summit this Friday. These developments indicate a heightened governmental interest in integrating Bitcoin into the broader financial system. Lawmakers in Texas could vote on the Strategic Bitcoin Reserve Bill as early as today. The legislation, which has been placed on the “notice of intent” list, aims to establish a state-backed Bitcoin reserve. If approved, it would cement Texas’ role in the digital asset space, setting a precedent for other states. Related: Trump’s Crypto Reserve vs. US Data: Will This Week’s News Drive Bitcoin? On the national front, the Trump administration is expected to make an announcement on cryptocurrency policy. Commerce Secretary Howard Lutnick has hinted at a new structure that would give Bitcoin special significance. While details remain few, it is clear that Trump sees Bitcoin as a strategic asset with long-term implications. The upcoming crypto summit at the White House is set to be a key moment. It may provide clarity on how the administration plans to regulate digital assets and whether a federal Bitcoin reserve is in consideration. Related: Donald Trump’s Shift from Bitcoin Reserve to a ‘Broader’ Crypto Plan Sparks Debate This move could reshape the U.S. financial world by offering Bitcoin a level of government backing, potentially increasing its legitimacy and adoption. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The US could see the biggest GDP contraction since the COVID-19 lockdown, as President Donald Trump’s tariff plans continue to cause havoc. The US economy could be shrinking at its fastest rate since the COVID-19 lockdown, according to the Federal Reserve Bank of Atlanta’s GDPNow model, which is now forecasting America’s gross domestic product to fall 2.8% in the first quarter. The new forecast differs immensely from just a month ago, which estimated America’s GDP was tracking close to a 4% growth for Q1. While GDP trackers like the Federal Reserve Bank of Atlanta can be volatile, several economic indicators also support the downward trend, which could also spell trouble for the crypto markets too, should a global liquidity crunch and more geopolitical conflict ensue. The possible GDP fall could trigger the start of a Trump-inflicted recession, or “Trumpcession,” as some call it. America’s GDP hasn’t shrunk by more than 2.8% since Q2 2020, where it fell 32.9% as the world went into lockdown from the COVID-19 pandemic. The estimated fall may have been contributed by America’s record-high $153 billion trade deficit in January, the Census Bureau reported on Feb. 28. The 25.6% trade deficit increase from December likely came as a result of businesses front-loading imports before President Donald Trump implemented his first round of tariffs. A Feb. 25 survey from The Conference Board showed the consumer confidence index sank from 105.3 points to 98.3 in February — the biggest month-to-month fall since August of 2021. Consumer spending also fell 0.2% in January — though only 11 days occurred under Trump — while investor and billionaire Warren Buffett reportedly believes Trump’s tariffs could fuel more inflation and hurt consumers. Macroeconomic concerns have been blamed for the recent slump in crypto prices, which has Bitcoin BTC $84,060 and Ether ETH $2,067 down 10.2% and 21.6% over the last two weeks. #BTC #ETH #Crypto

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Peter Schiff slams Trump’s crypto reserve as ‘biggest crypto rug pull’ Peter Schiff slams Trump’s crypto reserve as ‘biggest crypto rug pull’ In a recent post on X, economist and crypto critic Peter Schiff has slammed U.S. President Donald Trump’s crypto strategic reserve announcement, calling it “the biggest crypto rug pull of all time” and urging a Congressional investigation. Schiff questioned who authored the two related posts on Trump’s Truth Social account, who had prior knowledge of them and whether insiders profited from trading $XRP, $ADA, $SOL, $BTC and $ETH before and after the announcement. He also demanded a review of emails and messages involving Trump’s staff, family, donors and Truth Social employees related to the posts. On March 3, Trump shared two posts about a crypto reserve on Truth Social, sparking community concerns over potential front-running and insider trading.

Trump kickstarting the Bullrun again is now cliche, but i freaking love it. Dude is literally out there saving our asses on every front. W Trump