wyoming

On September 2, the Wyoming Stable Token Committee announced the adoption of Chainlink Proof of Reserve as the exclusive on-chain reserve verification layer for the Frontier Stable Token (FRNT), with reserves and supply balances audited by The Network Firm published to on-chain readable feeds. The current scale available for verification is not large: according to CoinGecko data, the total supply of FRNT is 967,900 tokens, with a unit price of approximately $0.99884, which only accounts for about 0.2% of the base scenario estimate (508.7 million tokens) submitted by the committee to the state legislature's budget meeting materials; the 24-hour trading volume is $160, all occurring on Kraken.The announcement separates the two products, with only Proof of Reserve currently online. The Proof of Reserve Secure Mint component, which programmatically prevents minting when reserves cannot cover total supply, is said by the committee to still be in the "adoption process." The committee previously published daily proofs on its official website, and this adjustment changes the method of data delivery rather than the update frequency. Committee Executive Director Anthony Apollo stated that adopting Chainlink's reserve proof provides transparent and verifiable confirmation that FRNT is fully backed by high-quality reserve assets; Chainlink Labs Chief Business Officer Johann Eid remarked that this demonstrates that governments can utilize the Chainlink platform to put trustworthy, fully verifiable on-chain financial infrastructure into production.

According to The Block, the Wyoming Stablecoin Committee announced the adoption of Chainlink Proof of Reserve to provide near real-time on-chain reserve verification for the state’s official stablecoin, Frontier Stable Token (FRNT). This follows the migration of cross-chain infrastructure from LayerZero to Chainlink CCIP, further establishing it as the sole on-chain asset verification infrastructure.The auditing firm The Network Firm will review the reserves and token supply of FRNT according to the standards of the American Institute of Certified Public Accountants (AICPA). The verification data will be recorded on-chain via Chainlink, reducing information gaps between reporting periods.The committee will also introduce the Chainlink Proof of Reserve Secure Mint mechanism, requiring that verified reserves must be no less than the total supply of FRNT for any minting to occur, in order to prevent risks associated with "unlimited minting." FRNT is fully backed by reserves of U.S. dollars and short-term U.S. Treasury securities, with related earnings used to diversify state finances and support local education funds.

The Wyoming Stablecoin Committee has migrated its issued Frontier Stable Token (FRNT) from LayerZero to Chainlink's cross-chain interoperability protocol CCIP, and will completely discontinue the LayerZero token implementation after completing a comprehensive security review. CCIP will serve as the sole cross-chain infrastructure for FRNT under a multi-year contract. This is the first time a U.S. government entity has publicly changed blockchain infrastructure for security reasons, and FRNT is currently the only stablecoin issued by a U.S. public institution, fully backed by fiat reserves, with reserve earnings used to support the state's school foundation projects. The token has been deployed on chains such as Ethereum, Base, and Avalanche, with a current market cap of less than $1 million.This decision was announced four months after the Kelp DAO bridge based on LayerZero was attacked, resulting in the theft of approximately 116,500 rsETH (worth about $292 million at the time), an incident that triggered a wave of industry security reviews and migrations. To date, nearly $15 billion in related assets have migrated from LayerZero to Chainlink, with early movers including Kelp, Solv Protocol, Re, and Kraken. Subsequently, BitGo chose CCIP and completed a migration of approximately $7.7 billion in wrapped Bitcoin, bringing the total to the current level. According to a case study by LayerZero in January of this year, Wyoming had previously operated its own decentralized validation network and controlled validation and compliance functions.

Analyst Shaunda Devens from Blockworks posted on X that the second quarter 13F filing recently disclosed by the state of Wyoming shows that it indirectly invested in HYPE through Hyperliquid Strategies ($PURR).

According to Bank Reg Blog, Kraken co-CEO Arjun Sethi has signed an agreement to acquire a small bank in Wyoming, Summit National Bank, which is in bankruptcy proceedings, for $5.5 million.The bank had previously failed multiple sale transactions. Economist David Beckworth asked whether this move would affect Kraken's streamlined Federal Reserve master account pilot and whether this acquisition would convert the streamlined account into a regular account. Bank Reg Blog responded that no direct impact is expected; the bank does indeed have a regular master account, but this transaction is being conducted in Sethi's personal capacity, rather than Kraken owning the bank.

According to public data disclosure, Wyoming has purchased shares of the Bitcoin reserve company Strive Inc. (ASST), becoming one of the few U.S. state governments to directly allocate related assets.Documents show that as of December 31, 2025, Wyoming holds 151,595 shares of Strive Class A common stock, valued at approximately $111,000. Strive was co-founded by Vivek Ramaswamy and focuses on a "Bitcoin reserve company" strategy. As of early 2026, it held approximately 13,132 bitcoins, valued at about $946 million at current prices, ranking among the top global corporate Bitcoin holdings. Strive implemented a 1:20 reverse stock split on February 6, 2026, so Wyoming's shareholding was adjusted to approximately 7,580 shares (originally 151,595 shares). This adjustment only changes the number of shares and does not affect the actual value of the holdings. Although the scale of the holdings is relatively small, this move is seen as symbolically significant, reflecting Wyoming's ongoing policy stance in promoting Bitcoin and crypto innovation.Market data shows that Strive's stock price closed at $9.62 on March 4, up 15.49% on that day.

Wyoming has just disclosed its first purchase of shares in the Bitcoin asset company Strive ASST.

According to Cointelegraph, Wyoming Senator Cynthia Lummis stated that Kraken will provide funding support for the "Trump Accounts" opened for newborns in the state.Kraken Co-CEO Dave Ripley said that the company chose to establish its headquarters in Wyoming because the state is "prudent and responsible" in cryptocurrency regulation and hopes to give back to the local community.

According to the official social media disclosure from the Wyoming Stable Token Commission, Wyoming has opened the purchase of the stablecoin FRNT to the public through the cryptocurrency exchange Kraken.FRNT is the first fiat-backed and fully reserved stablecoin issued by a public entity in the United States, with the interest generated from the reserves being used to support school projects in Wyoming.

According to Cointelegraph, Wyoming Representative Harriet Hageman recently released a mysterious video titled "Soon," sparking speculation about her potential candidacy for the Senate seat in 2026. This comes after current Senator Cynthia Lummis announced she would not seek re-election. As a staunch supporter of the cryptocurrency industry, Lummis has pushed for several blockchain legislations, including the Responsible Financial Innovation Act, and her departure will leave the crypto industry without an important ally.Although Hageman has not yet made digital assets a core focus, she has gained the support of Caitlin Long, a key advocate for blockchain legislation in Wyoming. The 2026 election will test whether the state continues to maintain its position as a Senate advocate for cryptocurrency.

According to market news, the Wyoming Stablecoin Committee has launched the testnet "faucet" for the Frontier Stable Token (FRNT). Anyone with a digital wallet can now connect to their website and choose from one of the 8 testnets.After that, up to 1,000 "tFRNT" tokens can be requested to their public address every 24 hours. tFRNT is not backed by any reserves; it is simply a token on the testnet (i.e., development) blockchain, designed to "simulate the deployment of smart contracts on its supported 7 mainnet blockchains." Previously, it was reported that the Wyoming stablecoin FRNT has not been available for purchase since its mainnet launch last month.

ChainCatcher news, according to PRNewswire, Wyoming-based digital asset company GGBR Inc. has officially launched its platform and gold-backed stablecoin Goldfish, establishing a long-term strategic partnership with RWA digitization company I-ON Digital Corp.According to reports, GGBR holders can enjoy 24/7 liquidity, physical redemption through regulated dealers, and stable pricing linked to real-time market gold prices. Company president Peter Mikhailenok stated that Goldfish aims to make gold ownership borderless and more inclusive.

ChainCatcher news, the Wyoming Stable Token Commission (WYST) announced that the first state-issued stablecoin, Frontier Stable Token (FRNT), will soon be launched on the trusted public network Hedera.FRNT is created under the 2023 Wyoming Stable Token Act and is the first state-issued stablecoin in the United States. It is fully backed by US dollars and short-term US Treasury securities, with an additional 2% reserve held to ensure stability.

ChainCatcher news reports that, according to 4E observations, Federal Reserve Governor Bowman stated that Federal Reserve employees should be allowed to hold a small amount of cryptocurrency, which would help in understanding digital asset products. Overly restrictive measures may hinder the recruitment and retention of professional talent. She also called for the industry to strengthen communication with regulators to promote the application of blockchain in areas such as fraud prevention.U.S. Treasury Secretary Bessent stated that the implementation of the GENIUS Act is crucial for maintaining the leadership of the U.S. digital asset sector. Stablecoins will expand the global use of the dollar and drive a surge in demand for U.S. Treasury bonds.Korean Central Bank Governor Lee Chang-yong stated in Congress that a won stablecoin is inevitable in the future, but it should be gradually introduced from the banking system, emphasizing the need for careful assessment of potential risks.On the market side, BitMine Chairman Tom Lee shared a fund analyst's view that Ethereum may pull back to $4075-$4150 mid-week, which is considered a healthy adjustment. On the other hand, the verifiable computing layer Boundless released its tokenomics: its native token ZKC has a total supply of 1 billion, with 49% allocated for ecosystem development, 23.5% for the team and contributors, 21.5% for investors, and 6% for community sales and airdrops.Additionally, Wyoming has officially launched the first state-level stablecoin in the U.S., FRNT, which is backed by the dollar and short-term U.S. Treasury bonds, and has been launched on seven public chains: Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base.4E reminds investors that policy signals and stablecoin innovations are accelerating the formation of the global digital financial system, and investors may pay attention to the interconnected effects of the Ethereum ecosystem and various countries' digitalization explorations.

ChainCatcher news, encrypted journalist Eleanor Terrett posted on social media that Wyoming has officially launched the Frontier Stable Token (FRNT), becoming the first state in the U.S. to issue its own stablecoin.FRNT is backed by the U.S. dollar and short-term government bonds, and is currently live on seven blockchains: Ethereum, Solana, Arbitrum, Avalanche, Polygon, Optimism, and Base.However, due to ongoing regulatory hurdles, the token is not yet available to the public.