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Techub News reported that BitMEX co-founder Arthur Hayes posted on Platform X that Flop Labs will launch the FLOP testnet in a few weeks. The project aims to build a blockchain where AI agents rent computing power, and the agents need to use FLOP tokens to pay for model inference or data storage fees. Miners (GPU owners) earn block rewards and most of the inference fees by executing real AI tasks, while verifiers are responsible for confirming the completion of the work. The testnet will undergo a 90-day trial run, during which miners, verifiers, and AI agents must participate to receive a share of the genesis airdrop. Miners can only earn points through verified computations, and verifiers will compete for 1,000 mainnet seats based on their testnet rankings. The project has no presale or venture capital allocation, and Hayes stated that he funded the team himself. (BeInCrypto)
Techub News reports, according to Bloomberg, a proposal supported by Trump to "allow cryptocurrencies and private equity to be included in 401(k) retirement plans" has passed White House review. After being approved by OIRA, the Department of Labor can announce the proposed rule in the coming weeks. If it ultimately takes effect, it will bring significant changes to the legal and regulatory environment of the approximately $12 trillion 401(k) pension market.
Techub News reports, according to Cointelegraph, VanEck will include some of its digital asset ETFs in U.S. 401(k) retirement plans through a partnership with the fintech platform Basic Capital. Basic Capital is a corporate 401(k) retirement plan platform provider. This collaboration will allow retirement savers to gain exposure to digital assets via ETFs. The parties did not specify which VanEck digital asset ETPs will be offered. VanEck's crypto products include spot Bitcoin ETFs, spot Ethereum ETFs, and an "on-chain economy" ETF that invests in companies within the digital asset ecosystem.
Techub News reports, according to Cointelegraph, the Governor of Indiana, USA, has officially signed the HB 1042 bill (Bitcoin Bill of Rights) into law. This bill aims to protect Bitcoin rights, prohibit discriminatory tax policies against cryptocurrencies, and explicitly allow the use of cryptocurrencies in state retirement plans.
Techub News reports, according to documents disclosed by Cointelegraph, the Indiana State Senate committee has passed the HB1042 bill, allowing state retirement funds to invest in cryptocurrencies.
Techub News reports, according to BitcoinTreasuries.NET monitoring, the $15.6 billion Louisiana State Employees' Retirement System (LASERS) reported holding 17,900 shares of Strategy shares (worth approximately $3.2 million).
Techub News reports, according to BitcoinTreasuries.NET monitoring, the California Public Employees' Retirement System (CalPERS), the largest U.S. state pension fund, has purchased 183,444 shares of Strategy stock year-to-date, valued at approximately $29 million.
Techub News reports, according to BitcoinTreasuries.NET, the New York State Retirement Fund in the United States has increased its holdings in the Bitcoin financial company Strategy (stock ticker MSTR) to $50 million.
Techub News reports, according to Cryptopolitan, members of the U.S. House Financial Services Committee have sent a letter to SEC Chairman Paul Atkins, urging the U.S. SEC to approve the inclusion of Bitcoin and other cryptocurrencies in 401(k) retirement plans. They pointed out that Americans saving for retirement deserve more investment choices, and the current rules are outdated and overly restrictive, preventing millions of people from accessing new asset classes. Furthermore, they emphasized the need to redefine the "accredited investor" standards. The current strict investor qualification rules limit participation in certain private and alternative investment markets.
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