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‘Only scratching the surface:’ Texas just became the first state to purchase bitcoin

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‘Only scratching the surface:’ Texas just became the first state to purchase bitcoin


The state of Texas recently purchased about $5 million worth of bitcoin through a BlackRock-administered exchange-traded fund, a representative for the state comptroller’s office confirmed in an email to The Dallas Morning News on Monday.

The purchase came several months after Texas Gov. Greg Abbott signed into law Senate Bill 21, a high-profile and controversial legislative effort that enabled the Texas comptroller’s office to establish a publicly funded strategic cryptocurrency reserve.

It also amounts to one of the first-ever cryptocurrency transactions by a state government amid a broader federal and state government embrace of the recently surging crypto industry. Other states, including New Hampshire and Arizona, have passed similar crypto reserve bills.

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And last year, Wisconsin’s and Michigan’s pension funds also purchased crypto, although with the comptroller’s purchase Texas has now become the first state to actually fund such a reserve.

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“The industry is maturing and growing — it’ll continue to become more mainstream, and I think Texas staking out a leadership position will be very beneficial to Texans over time, similar to what the oil and gas industry has done over the last century,” said Lee Bratcher, president of the Texas Blockchain Council, a crypto lobbying group that championed the state legislative effort.

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“I think we’re only scratching the surface,” Bratcher said.

The state made the roughly $5 million purchase through BlackRock’s iShares Bitcoin Trust ETF (IBIT), a fund managed by the major asset management firm that trades in U.S. dollars but generally reflects the price of bitcoin. As of early afternoon Monday, IBIT was trading around $48, reflecting a roughly 20% loss over the past month and a 13% decrease since the beginning of the year.

Those valuations broadly align with the recently highly volatile price of bitcoin: Early this year — amid a crypto frenzy inspired largely by the new, extremely crypto-friendly Trump administration — the world’s predominant cryptocurrency soared to above $100,000 for the first time in its history, and then in early October reached an all-time high above $126,000.

Since then, though, as fears have grown about a cooling economy and a potential AI bubble that could send the stock market plummeting, valuations of cryptocurrencies have also dipped. One bitcoin traded at around $85,000 on Monday, near the digital coin’s lowest price since April.

FILE - In this April 3, 2013 photo, a 25 Bitcoin token is displayed in Sandy, Utah. (AP...

FILE – In this April 3, 2013 photo, a 25 Bitcoin token is displayed in Sandy, Utah. (AP Photo/Rick Bowmer, File)

Rick Bowmer / AP

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‘Placeholder investment’

The state of Texas made its purchase late last month at a price around $87,000, according to a social media post by Bratcher, who said he first learned of the state’s purchase through a recent Zoom call that included acting Texas Comptroller Kelly Hancock. The comptroller’s office did not respond to a question from The News asking about the specific price the state paid for its IBIT purchase.

The ETF purchase is “a placeholder investment,” said Kevin Lyons, a representative for the comptroller’s office, until the agency formally contracts with what it’s referring to as a cryptocurrency custodian. The agency is now reviewing responses from a request for information it issued and will later award an official contract, Lyons said.

While the new state law did not include a specific funding amount, Texas legislators have since allocated $10 million to the reserve. The amount represents a tiny fraction of the state’s $338 billion state budget, although the legislation’s supporters have argued it still amounts to an important measure of support for an emerging industry.

“I think with Texas leading in this way, it’s going to reap benefits for many decades to come across the state,” Bratcher said. “From a job creation perspective to a tax revenue perspective and everything in between.”

Earlier this year, addressing legislators ahead of a vote on SB 21, state Rep. Giovanni Capriglione, R-Southlake — one of the driving forces behind the crypto push — struck a similar note, calling the reserve bill “a forward-thinking measure” that was about “recognizing digital assets not as a trend but as a strategic opportunity” and “strengthening the state’s fiscal resilience.”

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Yet even if Texas’ public crypto investment remains minuscule, many economists and fiscal watchdogs have criticized SB 21 along with other recent pro-crypto legislation on multiple fronts, arguing it amounts to a lobbyist-driven effort that’s likely to benefit the crypto industry much more than the state’s residents.

And while Texas has recently embraced bitcoin mining and other facets of the industry, with even Abbott pushing to make the state a global “crypto leader,” critics have pointed out that cryptocurrency itself has long been plagued by concerns about scams, corruption and energy use.

“It’s also backwards to our values in Texas,” John Griffin, a finance professor at the University of Texas at Austin, said earlier this year.

“Basically you have a conservative legislature saying, ‘We want less government,’ and yet here’s a case where you are wanting or encouraging government to speculate and possibly prop up an asset class.”

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Texas to require proof of identity, legal status for new vehicle titles March 5, 2026

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Texas to require proof of identity, legal status for new vehicle titles March 5, 2026


A major change is coming to how vehicles are titled and registered in Texas, with local officials and border-area dealerships bracing for questions, delays and the possibility that some buyers could take their business out of state.

Beginning March 5, 2026, Texans applying for an original vehicle title and registration will need proof of identity and proof of legal status in the United States.

The Texas Motor Vehicle Board approved a new rule requiring county tax offices to verify that documentation before processing those transactions.

“If the person doesn’t have valid ID, we cannot register their vehicle,” said Ruben Gonzalez, the El Paso County tax assessor-collector.

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Gonzalez said the rule is mandatory statewide and is not a local policy, but a state mandate he is required to follow as an agent of the DMV.

Under the rule, buyers must present a REAL ID-compliant Texas ID or other federally recognized documents, including a passport or permanent resident card.

Gonzalez said the rule takes effect March 5 for new titles and registrations, but proof of legal status for registration renewals will not be required until Jan. 1, 2027.

“We’re going to give a year’s time for those people to qualify, but more so to allow the entities, businesses like lean holders and dealers and the county offices to be trained on what’s an acceptable form of documentation to accept from people that are renewing online or in our offices,” Gonzalez said.

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Destiny Venecia reports on Texas to require proof of identity and legal status for vehicle titles, registrations (Credit: KFOX14)

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Local dealerships said they are working to adapt, but some employees and customers are uneasy about the change.

Luis Fierro, president of the El Paso Hispanic Independent Automobile Dealer Association, said, “My personnel is a little bit scared to make a mistake. Within the dinner community, they’re all scared, they’re all lost in the system. They’re trying to figure out, as we all believe, an ID was a real ID. Now we find out that what we knew that was good to be used is no longer good.”

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Border-area dealerships also worry customers could buy and register vehicles in New Mexico, taking taxes and fees out of Texas.

“Customers are scared of the new implementation, that they’re going to take their business to New Mexico, pay their taxes in New Mexico, and handle the registration and renewals in the state of New Mexico and avoid Texas,” Fierro said.

County leaders said the concern extends beyond lost sales to lost revenue for Texas counties.

“It’s going to be a loss of revenue because if they go to New Mexico, we can’t collect our fees that are due because they’re all they’re running using our highways,” Gonzalez said.

County officials said they expect an increase in questions and possible delays in the first few months after the rule takes effect March 5, 2026.

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RECOMMENDED: Texas bans temporary paper license plates to curb fraud

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North Texas middle school closes after a norovirus outbreak

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North Texas middle school closes after a norovirus outbreak


A middle school in the Eagle Mountain-Saginaw ISD is closed Friday after an outbreak of norovirus.

According to the school district, they closed Creekview Middle School in Fort Worth on Friday to sanitize and clean the building. The district said they plan on reopening the school on Monday.

The district said children started to get sick on Tuesday with what appeared to be a stomach virus and that on Wednesday it spread to a larger group.

EMSISD said they reached out to the Tarrant County Public Health Department and that they recommended disinfecting and cleaning the school on Wednesday night and reopening the next day.

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More cases continued to be reported on Thursday, so the public health department then recommended that they clean again and close the campus on Friday.

Parents were notified of the district’s decision on Thursday afternoon.

The district has not said how many students and staff were sickened in the outbreak.

Officials with Children’s Medical Center said that because norovirus is highly contagious and resistant to many common hand sanitizers, it presents a unique challenge for families.

The hospital says hand sanitizer isn’t enough and recommends thorough hand washing with soap and water. They also recommend parents keep their children home for a full 48 hours after symptoms stop to prevent further outbreaks.

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The Centers for Disease Control and Prevention says there are approximately 2,500 norovirus outbreaks in the United States each year and that they are most common from November through April. For further tips on preventing the spread of norovirus, visit the CDC.



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Trump heads to Texas, where 3 friends are battling it out in the Senate Republican primary

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Trump heads to Texas, where 3 friends are battling it out in the Senate Republican primary


WASHINGTON — President Donald Trump just can’t seem to choose among friends in the Texas Senate Republican primary.

So when he travels to the state on Friday for his first post- State of the Union trip, where he plans to promote his energy and economic policies, Trump will have all three candidates in the competitive race join him — just days before his party casts ballots in the primary race.

Sen. John Cornyn is battling for his fifth term and is being challenged by state Attorney General Ken Paxton and Rep. Wesley Hunt in a primary fight that has become viciously personal. And all three men, missing the coveted endorsement from Trump, have been trying to highlight their ties to him as they ramp up their campaigning ahead of Tuesday’s vote.

For his part, Trump will be seeking to ride the message of his State of the Union address from Tuesday, where he declared a return to economic prosperity and a more secure America — two centerpiece arguments for Republicans as they campaign to keep their congressional majorities this fall.

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Trump’s hesitation to endorse in the Texas Senate primary speaks to the tricky dynamics of the race.

Cornyn is unpopular with a segment of Texas’ GOP base, in part for his early dismissiveness of Trump’s 2024 comeback campaign and for his role in authoring tougher restrictions on guns after the 2022 school shooting in Uvalde, Texas. But Senate GOP leadership and allied groups see Cornyn as the stronger general election candidate, in light of a series of troubles that have shadowed Paxton.

Paxton beat impeachment on fraud charges in 2023, and has faced allegations of marital infidelity by his wife, state Sen. Angela Paxton.

Sen. John Cornyn, R-Texas, right, is joined by former Texas Gov. Rick Perry, left, during a campaign stop in Austin, Texas, Tuesday, Feb. 17, 2026. Credit: AP/Eric Gay

Senate Majority Leader John Thune and South Carolina Sen. Tim Scott, chairman of the National Republican Senatorial Committee, have urged Trump to endorse Cornyn. They and allied campaign groups argue that the seat would cost the party hundreds of millions more to defend with Paxton as the candidate.

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“It is a strong possibility we cannot hold Texas if John Cornyn is not our nominee,” Scott told Fox News on Wednesday.

Hunt, a second-term Houston-area representative, was a later entry to the race, but claims a kinship with Trump, having endorsed him early in the 2024 race. Hunt campaigned regularly for Trump and earned a prime-time speaking slot at the Republican National Convention in Milwaukee.

If no candidate reaches 50% in Tuesday’s primary, the top two finishers will advance to a May 26 runoff.

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Texas Attorney General Ken Paxton and Rep. Troy Nehls, R-Texas, arrive before President Donald Trump delivers the State of the Union address to a joint session of Congress in the House chamber at the U.S. Capitol in Washington, Tuesday, Feb. 24, 2026. Credit: AP/Allison Robbert

Cornyn’s campaign and a half-dozen allied groups have poured more than $63 million into the race since last fall, chiefly trying to slow Paxton but recently attacking Hunt in an effort to keep him from making it to the runoff.

Earlier this month, Trump feinted toward weighing in on the race when he said he was taking “a serious look” at endorsing in the Texas primary. He has since reaffirmed his neutrality.

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Still, you wouldn’t know it from watching TV in Texas. Cornyn has been airing ads since last year touting his support for Trump’s agenda, even though his relationship with the president has been cool at times. Paxton and Hunt both have ads airing now featuring them standing with Trump.

“I like all three of them, actually. Those are the toughest races. They’ve all supported me. They’re all good. You’re supposed to pick one, so we’ll see what happens. But I support all three,” Trump said earlier this month.

The GOP battle comes as Democrats have a contested primary of their own in Texas between state Rep. James Talarico, a self-described policy wonk who regularly quotes the Bible, and progressive favorite U.S. Rep. Jasmine Crockett.

Trump hasn’t been shy about wading into other contested Republican primaries in the state. Parts of Corpus Christi fall within Texas’ 34th congressional district, where former Rep. Mayra Flores is fighting to reclaim her seat against the Trump-endorsed Eric Flores. (The two are not related.) The winner of the primary will face off against Democratic Rep. Vicente Gonzalez, long a target of the GOP, whose district was redrawn to make it easier for a Republican to win.

Eric Flores will be at the Trump event at the Port of Corpus Christi, which technically is located in a neighboring district.

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Elsewhere in the state, the president has also endorsed Rep. Tony Gonzales, who is fighting calls from his own party to resign from Congress after reports of an alleged affair with a former staffer who later died after she set herself on fire. Gonzales is refusing to step down and has said that there will be “opportunities for all of the details and facts to come out” and that the stories about the situation do not represent “all the facts.”

Gonzales is facing a primary challenge from Brandon Herrera, a gun manufacturer and gun rights influencer who Gonzales defeated by fewer than 400 votes in their 2024 runoff. The White House did not return a request for comment on Thursday on whether Trump stands by his endorsement of Gonzales.



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