Texas becomes first U.S. state to fund standalone Bitcoin reserve

Daily top performer — Story Protocol (IP)



The S&P 500 edged lower Monday as US strikes on Iranian nuclear sites renewed Middle East conflict fears and spiked oil prices, adding to investor caution after a flat close last week. Gold climbed to $3,375 as US strikes on Iran escalated tensions, boosting safe-haven demand. Dovish Fed signals added support ahead of key US PMI data. CoinDesk Indices, which track the broader crypto market, fell 1.31% in the past 24 hours, while Bitcoin and Ether rising 0.28% and 0.61%, respectively. Trade these markets and more with up to 500x leverage on Bybit MT5 using this link.



Today’s top performer is IP, up 14.4% after Aria announced the June 25 launch of its $APL token, backed by iconic music IP.

Story Protocol (IP), founded in 2022, is a Layer 1 blockchain for IP, embedding royalties and attribution on-chain to protect creators and ensure fair compensation, especially in the AI era. Aria will launch $APL on June 25, the first IPRWA token backed by fractional music rights from artists like Justin Bieber, BLACKPINK, and Miley Cyrus. Holders can claim, stake to earn royalties and Aria points, and track assets via the Aria webapp.



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Talk of the town

Texas has become the first US state to commit public funds to a standalone Bitcoin reserve, following Governor Greg Abbott’s signing of Senate Bill 21. The Texas Strategic Bitcoin Reserve will hold BTC as a long-term strategic asset, independently managed and protected from general budget use. Only assets with a market cap over $500B—currently only Bitcoin—qualify. The fund can grow via purchases, forks, airdrops, or donations, with reports issued every two years. This move aligns Texas with a growing trend of institutions and companies adding Bitcoin to their treasuries.



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Bitcoin spot ETF flows





BTC spot ETFs recorded $1.02B in net inflows last week, led by $1.03B from non-GBTC funds, while GBTC saw $3.6M in outflows. Since inception, total net inflows stand at $46.6B, with GBTC at -$23.2B and non-GBTC at +$69.9B.



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Airdrop to watch

Irys, a Layer 1 “programmable datachain” for AI and next-gen apps, is live on testnet with a potential airdrop. Backed by Arweave and Framework Ventures, it offers low-cost, censorship-resistant storage. Users can earn points by claiming the faucet and completing daily Galxe quests, with more stealth quests expected.