Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Oklahoma’s Senate has voted against the Strategic Bitcoin Reserve (SBR) bill introduced in January, leaving it out of the race to establish crypto-based reserves at the state level in the US.

Oklahoma Exits Bitcoin Reserve Race

On Monday, Oklahoma dropped out of the Strategic Bitcoin (BTC) Reserve race after the Senate Revenue and Taxation Committee rejected the proposed legislation despite a Republican majority.

In January, Oklahoma became the sixth state to introduce a BTC Reserve policy in the US. State House Representative Cody Maynard proposed House Bill 1203 (HB1203), the Strategic BTC Reserve Act, to allow Oklahoma’s state savings accounts and pension funds to invest in digital assets like BTC.

The bill would have allowed the State Treasurer and state retirement funds to hold digital assets through a secure custody solution, managed by a qualified custodian, or invested in exchange-traded products, and mandated that any taxes or fees paid in BTC be transferred to the State General Fund and reimbursed in US currency.

Oklahoma was among the SBR race leaders, tied with Texas as the second most advanced state in the legislative process. By March, the bill had advanced through the legislative process, passing the House’s third reading with a 77 – 15 vote.

However, the Senate’s Tax Committee dismissed the proposal in a 6 – 5 vote, with the two Democratic and four Republican Senators voting no on April 14.

Senate Tax Committee's vote on HB1203. Source: Bitcoin Laws

Notably, Senator Christi Gillespie revealed she was voting no until Monday afternoon, but was convinced to vote yes “by a couple of constituents,” Bitcoin Laws reported on X.

The post also noted that “politicians voting on Bitcoin Reserve legislation can be persuaded (…). None of these bills are guaranteed to pass or fail. Bitcoiners (you) can make a difference.”

US States’ Crypto Legalization Continues

Oklahoma became the latest state to dismiss its SBR plans, joining Utah, Montana, South Dakota, North Dakota, Pennsylvania, and Wyoming.

It’s worth noting that another crypto-related legislation remains live in Oklahoma’s Senate. As reported by Bitcoinist, Republican state senator Dusty Deevers introduced a bill in January allowing Oklahoma employees, residents, and businesses to accept BTC payments.

Senate Bill 325 (SB325) aims to allow employees to choose BTC as a payment method and allow vendors to accept BTC for goods and services, offering Oklahomans an opportunity to protect their salaries and investments from inflation.

The bill seeks to “establish a framework for the secure use of Bitcoin by the State of Oklahoma, private businesses, and individual residents,” authorize Bitcoin as an acceptable medium for transactions, salaries, and investments, and ensure participation is “entirely voluntary, respecting the free-market principles.”

Nonetheless, the legislation has not advanced since February, when it was referred to the Technology and Telecommunications Committee.

With no other SBR-related bill in the state, the race continues to be led by Arizona’s SB1025 and SB1373, New Hampshire’s HB302, and Texas’s SB21.

BTC trades at $84,089 in the one-week chart. Source: BTCUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Sam Bankman-Fried, currently serving a 25-year prison term, has a new home after completing an unauthorized interview with Tucker Carlson. Before the interview, SBF was housed at the Metropolitan Detention in Brooklyn, where the March 25th remote interview was conducted. The Brooklyn facility was famous for holding high-powered personalities, including R. Kelly, Sean ‘Diddy’ Combs, and Ghislaine Maxwell.

Although Bankman-Fried’s transfer caught many by surprise, others in the know have long expected the move. Last May, there were rumors that officials would move SBF out of his cell, with SBF’s representatives believing their client may be transferred to Mendota, California.

Unauthorized Interview With Tucker Carlson

Bankman-Fried’s remote interview with Carlson was hosted last March 5th, without authorization by the Federal Bureau of Prisons (BOP). The interview lasted for over 42 minutes, with the video and outline of the interview available on Carlson’s social media page. 

Bankman-Fried talked about various topics, including his experiences inside the prison, how these experiences changed and shaped his perspectives, and his thoughts on the crypto industry. Also, the interview touched on SBF’s financial standing and his thoughts on the Democratic Party.

Bankman-Fried’s remote interview surprised many since he was largely silent and unavailable since his 2023 conviction. Immediately after the interview, prison officials sent SBF to solitary confinement. Then, the prison officials decided to transfer SBF to another prison facility.

SBF Used Remote Interview To Address The Charges

Tucker Carlson posted a summary of the remote interview on his Twitter/X account on March 7th. The interview covered many topics and issues, and SBF also used the opportunity to deny the charges against him again. When asked by Carlson, SBF re-stated that he doesn’t consider himself a criminal. He then suggested that FTX “was solvent” at its collapse.

Bankman-Fried also contested the charges against Ryan Salame, the FTX Digital Markets co-CEO, saying they were “bogus.” He then implied that the filing of these cases was politically motivated.

Bankman-Fried Continues To Attract Controversies Even While Serving Time

Even after his conviction, Bankman-Fried continued to attract attention and controversy. His latest stunt with Tucker Carlson didn’t go under the radar; the BOP flagged the unauthorized interview, which led to the resignation of SBF’s crisis manager, Mark Botnick.

Even in detention, SBF caused some controversies and has been the subject of investigations. In August 2023, officials revoked his bail over allegations that he attempted to sway witnesses. To help counter SBF’s negative image, his legal team recommended that they work with conservative media personalities, including Tucker Carlson. The team hoped that working with conservative commentators could boost the chances of SBF getting a presidential pardon.

Featured image from ABC News, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Imprisoned FTX founder Sam Bankman-Fried has been on the move.

The former crypto executive was previously incarcerated in Brooklyn’s Metropolitan Detention Center, but Federal Bureau of Prisons (FBOP) data indicates he now resides at FTC Oklahoma City, a transfer center that temporarily houses inmates being transported through the prison system.

No reason for Bankman-Fried’s transfer was provided, but the FTX founder did recently conduct an unauthorized YouTube interview with conservative media personality Tucker Carlson. The New York Times, citing “a person briefed on the situation,” reported earlier this month that the unsanctioned conversation landed Bankman-Fried in solitary confinement.

The FTX founder reportedly interviewed with Carlson as part of a longshot effort to secure a pardon from President Donald Trump.

Crypto lobbyists are doubtful the disgraced FTX founder’s efforts will be successful, with one telling Fortune that Bankman-Fried had a “near zero” chance of landing the pardon.

FTX imploded and filed for bankruptcy in November 2022 amid accusations that Bankman-Fried mishandled the exchange’s funds by loaning out billions of dollars’ worth of customer deposits to Alameda Research, the firm’s trading arm.

The exchange’s multi-billion dollar collapse led to a sharp downtick in crypto prices, and US federal authorities arrested Bankman-Fried the following month.

A US judge sentenced the FTX founder to 25 years in prison last year after he was convicted of fraud charges in 2023. His current release date is scheduled for November 17th, 2044, per FBOP data.

Earlier this year, Bankman-Fried’s parents, Stanford Law School professors Joseph Bankman and Barbara Fried, reportedly met with lawyers and other figures considered close to Trump to discuss potential clemency for their son.

Joseph Bankman even penned an opinion piece in the Washington Post (with Berkeley law professor Mark Gergen) praising Trump’s plan for a US sovereign wealth fund.

Trump pardoned Silk Road creator Ross Ulbricht in January, fulfilling a campaign promise to Libertarian voters. Bankman-Fried, however, has much less grassroots support than Ulbricht.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney