A new ranking of crypto-friendly U.S. states puts New Hampshire at the top despite its steep electricity prices and lack of bitcoin mining activity. The state scores high due to its zero capital gains tax, lack of restrictive crypto regulation and a dense network of crypto-accepting businesses and ATMs.

The study, conducted by digital mining hardware maker ASICKey, evaluated all 50 states using seven weighted factors: capital gains tax, regulatory environment, crypto adoption in business, job availability, ATM density, electricity cost, and mining presence. Tax policy and business usage were given the most weight.

New Hampshire earned the highest score — 71.22 out of 100 — with 4.4 crypto businesses and 9.3 ATMs per 100,000 people. Wyoming followed with a score of 61.89, thanks to the highest blockchain job concentration nationwide (118.4 per 100,000), low energy costs, and minimal regulation.

Nevada, Texas, and Alaska round out the top five. Each state has its own strengths — Nevada’s crypto-accepting business sector, Texas’s significant mining footprint, and Alaska’s strong blockchain job market — while also benefiting from 0% capital gains taxes.

The study underlines how tax structure and state policy shape the crypto landscape. States with favorable tax codes and clear regulatory paths appear to attract more infrastructure and job creation, while high taxes or unclear rules may slow adoption.

Geopolitical tensions and regulatory uncertainty continue to shape cryptocurrency markets as Cardano ADA experiences volatile price action between $0.664 and $0.690. Despite strong network fundamentals, including surpassing 110 million total transactions, ADA faces downward pressure amid broader market concerns about inflation and monetary policy decisions.

Technical Analysis

• ADA-USD exhibited a volatile 24-hour trading range of 0.026 (3.85%), forming a consolidation pattern between $0.664 and $0.690.
• Significant resistance encountered at $0.690 with high-volume rejection during the 01:00 hour.
• Strong support established at $0.665 with notable buying pressure emerging at the 10:00 and 12:00 hours.
• 4-hour moving average suggests a slight bearish bias, with price currently testing mid-range level around $0.672.
• Clear resistance zone formed around $0.676, with peak volume during the 13:36-13:40 period.
• Pullback to $0.668 at 14:00 established a new support level, with immediate buying pressure pushing prices back above $0.671.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Meta (META) shareholders have overwhelmingly voted against a proposal to add bitcoin BTC to the company’s balance sheet, according to a May 28 filing with the U.S. Securities and Exchange Commission.

Just 3.92 million votes supported the measure, while nearly 5 billion were cast in opposition. The idea was put forward in January by Ethan Peck, a bitcoin advocate who works as the bitcoin director for the wealth management firm Strive.

Peck’s proposal called for Meta to move a portion of its $72 billion in cash and cash equivalents into bitcoin as a hedge against inflation. He argued that the tech giant should treat bitcoin as a strategic reserve asset, similar to a corporate war chest designed to weather monetary policy uncertainty.

The campaign was not limited to Meta. Peck also targeted Microsoft (MSFT) and Amazon (AMZN) with similar proposals, filed on behalf of the conservative think tank National Center for Public Policy Research (NCPPR). Microsoft shareholders recently voted against the plan. Amazon has not yet held a vote.

Though Meta doesn’t hold crypto on its balance sheet, the company has dabbled in blockchain before. In 2019, it announced Libra, a global stablecoin project backed by a basket of fiat currencies. That effort collapsed in 2022 after regulatory backlash and internal struggles, rebranding briefly as Diem before being shut down.

Meta’s broader crypto strategy remains unclear. While its metaverse ambitions prompted the 2021 rebrand from Facebook to Meta, the company has pulled back on that vision in recent months. Still, earlier this year, reports surfaced that Meta was exploring the use of stablecoins to manage payments across its family of apps.

Shares of the company were up 3.5% on Monday, trading at $670.09 a piece.