Key Notes
- Thumzup Media has approved a plan to invest up to $250 million in a variety of digital assets.
- This is a notable strategy for transitioning from Bitcoin investments to XRP, Dogecoin, Solana, and USDC.
- Thumzup makes this move on the heels of the improved crypto regulation landscape in the US.
Nasdaq-listed Thumzup will launch a new treasury strategy for different cryptocurrencies, including Ripple-associated XRP XRP $3.59 24h volatility: 17.9% Market cap: $212.65 B Vol. 24h: $19.17 B , with an initial fund of $250 million. This is the company’s way of participating in forward-looking treasury investments and aligning with current world financial trends.
Thumzup Moves Beyond BTC Investments to Hold XRP, USDC
On July 17, Thumzup announced that its Board of Directors has come together to authorize a plan which will see the company hold up to $250 million in cryptocurrencies. The approved digital assets are Bitcoin BTC $120 272 24h volatility: 1.6% Market cap: $2.39 T Vol. 24h: $50.63 B , Ethereum ETH $3 608 24h volatility: 7.6% Market cap: $435.44 B Vol. 24h: $59.70 B , Solana SOL $179.8 24h volatility: 4.9% Market cap: $96.73 B Vol. 24h: $17.50 B , XRP, Dogecoin DOGE $0.23 24h volatility: 8.6% Market cap: $34.68 B Vol. 24h: $12.86 B , Litecoin LTC $104.4 24h volatility: 8.0% Market cap: $7.95 B Vol. 24h: $1.23 B , and USD Coin USDC $1.00 24h volatility: 0.0% Market cap: $64.83 B Vol. 24h: $10.59 B .
Before this time, the company had concentrated solely on investing in Bitcoin. As a result, it accumulated 19 BTC, equivalent to $2.26 million, based on the current BTC price .
According to Thumzup, this decision was made to align with its wider strategy of remaining at the forefront of digital finance. There are also plans to expand its exposure to the crypto market. Already, the company has made great strides with AdTech, its growing platform that rewards users for sharing branded content on social media.
Now, Thumzup is developing a patent-pending Artificial Intelligence (AI)-powered lifestyle marketplace. Notably, this newfound track emerges at a time when the U.S. crypto landscape has experienced significant improvements. Thumzup CEO, Robert Steele, noted this key moment for the crypto industry.
“As the US federal government moves toward more crypto-friendly policies and greater regulatory clarity, Thumzup is committed to remaining at the forefront of this transformative technology,” Steele emphasized . “By diversifying our portfolio of cryptocurrencies to gain wider exposure to the market as a whole, we believe Thumzup is optimally positioned to create significant value for TZUP shareholders.”
The Thumzup move will specifically be beneficial to XRP as the sentiment can push the altcoin close to its all-time high (ATH). As of writing, the coin is down 7% from its $3.84 ATH, a level that may be breached in the coming days.
GENIUS Act, CLARITY Act, and CBDC Ban Proposals Face Opposition
Speaking of the new pro-crypto stance in the US, President Donald Trump’s administration has made substantial changes to the crypto industry in less than seven months of being in office. The government has introduced several policies and bills to help the digital asset thrive excellently. One such bill that is yet to take effect entirely is the GENIUS Act for stablecoins, as well as the CLARITY Act.
However, these bills, including a ban on Central Bank Digital Currency (CBDC), initially faced internal GOP resistance over concerns about their scope. There are internal disagreements among Republican lawmakers, as they stall progress on these key bills intended to create a national regulatory framework for digital assets.
Some sources have identified that the objections center on the scope of the CBDC ban provision. These policymakers are concerned about whether the bills should be considered individually or as a bundled package. President Trump stepped up to the occasion, hosting a closed-door meeting at the White House with the dissenting Republicans, aiming to secure their support.
Despite the initial hiccup, three major crypto bills passed Congress this week, with potential signing into law expected soon.
