Florida exits Bitcoin Reserve race – Here’s what it means for state-led crypto adoption

By: bitcoin ethereum news|2025/05/07 07:00:07

Florida’s Bitcoin treasury bills were withdrawn without a floor vote. North Carolina advances bill allowing 5% investment in approved digital assets. In an unexpected turn of events, Florida’s plan to integrate Bitcoin [BTC] into its state treasury has quietly come to an end. Two companion bills- HB 487 and SB 550 — that proposed allocating up to 10% of certain public funds into Bitcoin were officially withdrawn as the legislative session wrapped up on the 3rd of May. Without ever reaching a floor vote, both measures were indefinitely postponed, marking a subdued halt to what could have been a landmark shift in state-level crypto adoption. Remarking on the same, Bitcoin Laws, a bitcoin legislation researcher, took to X (formerly Twitter) and noted, “The legislature adjourned its 2025 session on May 2, without passage of the bills.” Growing lists of U.S. states dropping the Bitcoin Reserve plan Florida now joins a growing list of U.S. states where crypto reserve bills have failed to gain support. These states include Wyoming, South Dakota, North Dakota, Pennsylvania, Montana, and Oklahoma. This wave of legislative rejections persists despite speculative momentum surrounding federal-level adoption. Polymarket data shows a 0% probability that Donald Trump will establish a national Bitcoin reserve within his first hundred days. This remains unchanged despite his executive order suggesting such intent. In contrast, forecasts for a U.S. Bitcoin reserve materializing sometime in 2025 remain optimistic, with a 59% probability hinting at renewed federal interest. This coincided with Arizona briefly leading the state-level charge before Governor Katie Hobbs vetoed House Bill 1025 on the 3rd of May, citing the “untested” nature of digital assets. Expressing on the same, Hobbs had noted, “Retirement funds are not the place to experiment with untested assets.” Needless to say, the bill would have allowed Arizona to convert seized assets into Bitcoin and manage them as a strategic reserve, making it one of the most advanced efforts of its kind before its abrupt halt. Not all states are flocking together However, while several states have stepped back from crypto reserve ambitions, North Carolina is charting a different course. In a major development, North Carolina’s House of Representatives has passed the “Digital Assets Investment Act” (HB92) by a 71–44 vote. If enacted, the bill will allow the state treasurer to invest up to 5% of certain funds in vetted digital assets. These assets must meet strict custody and compliance requirements to qualify. This positions North Carolina as a potential leader in government-backed crypto investments. While some states reject similar policies, North Carolina’s approach suggests new opportunities may be emerging in state-level digital asset regulation. Source: https://ambcrypto.com/florida-exits-bitcoin-reserve-race-heres-what-it-means-for-state-led-crypto-adoption/

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.

2025 Full-Year Financial Highlights

Revenue: Expected to be between $39 million and $41 million, reaching a new company high.

Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.

Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.

Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.

Core Consumer Food Business Performance

In 2025, DDC's core consumer food business maintained strong operational performance.

The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.

In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.

Bitcoin Reserve Update

In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.

As of December 31, 2025: The company holds 1,183 BTC.

As of February 28, 2026: Holdings increased to 2,118 BTC

Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC

DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."

Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation

About DDC Enterprise Limited

DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.

The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins