🚨NEW: First Bitcoin reserve bill vetoed in Arizona by Democratic Governor Katie Hobbs.

There are two more bills on her desk — one similar to the first, which would allow the state treasurer to invest in $BTC or crypto-related ETFs.

The third, sponsored by Rep. @JeffWeninger, may have a better chance at passing. It would allow third-party exchanges like @coinbase to send unclaimed crypto to the state in its native form, instead of liquidating it as is currently required by law. The bill mandates that all unclaimed crypto be kept in its native form, and the state could establish a reserve fund through the yield generated by staking the crypto, Weninger tells me. The proceeds from staking and any airdrops would then be directed into the reserve.

When I spoke with Weninger just now, he told me he’s hopeful and optimistic Hobbs will sign the bill despite her veto of the first.