Latest news with #U.S.FederalGovernment
Time Business News
17-05-2025
- Business
- Time Business News
New Hampshire Crypto Reserve Bill: Sign of More to Come?
Individual crypto investors looking for the best trading opportunities may be considering crypto assets experiencing the greatest level of price appreciation. According to Binance, here are the values of the top 10 cryptocurrencies currently experiencing the highest price gains. However, when it comes to investment from larger market participants, the focus remains on the largest, most established cryptocurrencies, such as Bitcoin, as well as top Altcoins like Ether. It's no longer just institutional investors and entities like the U.S. Federal Government that are looking to plow capital into these institutional-grade crypto assets. Pretty soon, individual U.S. states could join in as well. At least, that's the takeaway, following recent news of New Hampshire becoming the first state in the nation to authorize the formation of a strategic cryptocurrency reserve. New Hampshire, nicknamed the 'live free or die' state, and well known for its strong association with libertarianism, makes for an unsurprising choice for the first state to approve a crypto reserve bill. On May 6, the New Hampshire legislature approved, and Governor Kelly Ayotte signed into law, a bill allowing the New Hampshire state government to invest up to 5% of public funds into digital assets that have a market capitalization of at least $500 billion. In other words, New Hampshire is now allowed to invest in Bitcoin, but not in other cryptocurrencies. Although the specifics may represent disappointing news for altcoin investors, for Bitcoin 'HODLers,' this could be a promising development. I say 'could be,' because it'll likely take several U.S. states to set up strategic Bitcoin reserves, before this trend starts to have a meaningful impact on BTC prices. So, as the 'Live free or die' state goes, so goes the nation? Not so fast. Proposed bills authorizing crypto reserves have been introduced in several U.S. states, but for now the passage of a New Hampshire-style bill appears questionable. According to the National Law Review , 15 other state legislatures outside of New Hampshire have proposed legislation authorizing the creation of a strategic cryptocurrency reserve. Most, but not all of these U.S. states voted for President Trump in last year's election. However, while some lawmakers in other states have tried, so far none of these bills have made it past the legislative stage. This failure continues, even as recent moves by the U.S. Federal Government setting the precedent for U.S. government ownership of crypto assets. Although one other state (Arizona) has technically also signed a crypto reserve bill into law, this bill is not akin to the one passed by New Hampshire. Rather, this bill only allows the use of unclaimed crypto to build a reserve. The bill does not allow the purchase of additional crypto using public funds. That said, while legislative progress on this issue appears murky right now, perhaps the passage and implementation of New Hampshire's law will inspire legislators in these states to reconsider their decision. Again, it'll likely take a critical mass of U.S. states investing in Bitcoin before this catalyst starts to have a positive effect on prices. As it stands now, it's unclear if more individual states will ultimately establish their own state-level strategic Bitcoin reserves. However, beyond just the potential for state-level legislative progress to arrive down the road, it's not as if the Federal Government's strategic reserve plans have fully played out. While the federal-level strategic reserve for now consists only of seized crypto assets, this could eventually change. Per the executive order authorizing this reserve, President Trump has directed federal agencies to identify 'budget-neutral' ways to acquire additional crypto assets. In Congress, House of Representatives members such as Nick Begich (R-AK) have introduced legislation that would enable the U.S. Federal Government to buy 1 million Bitcoin over the course of five years. In short, subsequent strategic reserve-related moves could outweigh any further action (or inaction) from individual U.S. states, resulting in billions of dollars in additional capital flowing into this asset class. TIME BUSINESS NEWS
Associated Press
13-03-2025
- Business
- Associated Press
Edgecore Americas Networking Corporation Awarded GSA Schedule, Streamlining Federal Government Access to its Open Infrastructure Solutions
Edgecore Americas Networking Corporation, a leading provider of open networking and compute solutions, today announced it has been awarded the U.S. Federal Government GSA Schedule contract: (Number 47QTCA25D005Z). This prestigious award enables federal agencies to easily procure Edgecore's open infrastructure solutions using streamlined and pre-negotiated terms and conditions. The GSA Schedule, also known as a Multiple Award Schedule (MAS), is a long-term government-wide contract with firms like Edgecore that provides governmental agencies with simplified access to millions of products and services at fair and reasonable prices. By securing this schedule, Edgecore Americas Networking Corporation has demonstrated its commitment to meeting the rigorous standards of the federal government and its ability to provide high-quality and cost-effective open infrastructure solutions. 'We are thrilled to have been awarded the GSA Schedule,' said Mingshou Liu, President at Edgecore. 'This achievement signifies our dedication to serving the public sector and simplifies the procurement process for federal agencies seeking our innovative open infrastructure solutions in their campus, data center and AI projects. We look forward to partnering with government organizations to deliver impactful open infrastructure solutions that cost-effectively addresses their critical I.T. needs.' The GSA Schedule award allows federal agencies to: Access pre-negotiated pricing and terms: Ensuring best value and efficiency when looking to build out modern data center and AI Inferencing projects. Streamline the procurement process: Reducing administrative burden and reducing delays to better support required project timelines. Leverage a trusted and reliable vendor: Edgecore has undergone a thorough review and approval process which makes procurement easy. Obtain a wide range of open infrastructure solutions: Tailored to meet specific agency requirements. 'Edgecore has become the standard-bearer for Whitebox solutions and is well respected for its leadership solutions across the industry. This award not only demonstrates Edgecore's commitment to serving the public sector, but also significantly enhances our ability to deliver leadership solutions and drive I.T. success within the government,' said Scott Robohn, Consulting CTO at Carahsoft. 'With every facet of governmental spending being scrutinized at the exact moment in time that AI enabled applications are being adopted, having Edgecore on the GSA Schedule enables governmental agencies to address both.' Edgecore's GSA Schedule covers an extensive portfolio of I.T. related networking and computing equipment along with their associated support services. This comprehensive offering allows government agencies to easily find and acquire the I.T. solutions they need to achieve their next generation of I.T. capabilities while reducing overhead and streamlining new AI-related I.T. buildouts. The GSA Schedule facilitates the procurement process for our government clients, allowing them to access Edgecore's leadership open infrastructure solutions quickly and efficiently. With this GSA Schedule award, Edgecore has established itself as a trusted partner for federal agencies seeking innovative and cost-effective data center and AI Inferencing solutions. Edgecore Americas Networking Corporation is a wholly owned subsidiary of Accton Technology Corporation, the leading network ODM and supplier to large Enterprises and Service providers. Edgecore Networks delivers wired and wireless networking products and solutions through channel partners and system integrators worldwide for AI/ML, Cloud Data Center, Service Provider, Enterprise and SMB customers. Edgecore Networks is the leader in open networking providing a full line of open WiFi access points, packet transponders, virtual PON OLTs, cell site gateways, aggregation routers and 1G, 10G, 25G, 40G, 100G, 400G and 800G data center switches that offer choice of commercial and open-source NOS and SDN software. Lucille Lu SOURCE: Edgecore Americas Networking Corporation Copyright Business Wire 2025. PUB: 03/13/2025 11:00 AM/DISC: 03/13/2025 11:00 AM
