TechFlow News, May 29: According to The Block, Texas Acting Comptroller Kelly Hancock has officially appointed four external members to the Strategic Bitcoin Reserve Advisory Committee. Established under Senate Bill 21, the committee comprises Gary Vecchiarelli, President and CFO of CleanSpark; Jamie McAvity, Founder and CEO of bitcoin mining company Cormint; Carla Reyes, Professor of Law at Southern Methodist University; and investment executive Laurie Dotter. The committee will advise the Comptroller on bitcoin valuation, custody, and risk management.
Texas has already established an initial $10 million position in bitcoin via BlackRock’s IBIT Bitcoin ETF and has issued a request for proposals (RFP) seeking service providers to assist in converting reserve assets from IBIT into direct bitcoin holdings. Texas is the third U.S. state—after Arizona and New Hampshire—to legislatively establish a Strategic Bitcoin Reserve.
