The Altgeld Bitcoin Reserve was founded in early 2025 by Tolbyus Shephard, who grew up in Altgeld Gardens, and is supported by Bernadette Williams, Chair of the Altgeld Gardens Local Advisory Board. On October 14, 2025, the Illinois House of Representatives passed Resolution 446, recognizing ABR as the first community-operated Bitcoin reserve in the United States and honoring Altgeld Gardens for its leadership in financial empowerment.
Altgeld Gardens: A History of Resilience and Community Empowerment
Altgeld Gardens, built in the 1940s, was originally established to house Black veterans, defense workers, and their families during World War II, and has a long history of community organizing and resilience.
Later, this community became known as the "Toxic Doughnut" due to surrounding industrial pollution, landfills, and waste disposal facilities. Resident Hazel Johnson became a pioneer of the environmental justice movement, founding People for Community Recovery in 1979 to advocate for safer living conditions. In the 1980s, a young Barack Obama served as a community organizer alongside Altgeld residents before becoming President of the United States.
For Tolbyus Shephard, who grew up in Altgeld Gardens, this reserve continues that legacy by creating a community-owned financial asset designed to benefit future generations.
“As someone who grew up in Altgeld Gardens, I founded the Altgeld Bitcoin Reserve (ABR) on a simple belief: if nations, states, the wealthy, and large institutions can establish long-term financial reserves to secure their future, why shouldn’t underserved communities be able to do the same? Our community deserves the opportunity to build, own, and preserve wealth for future generations,” said Tolbyus Shephard, founder of Altgeld Bitcoin Reserve.
Emphasize ownership, not the project itself
The concept of ABR revolves around a question rarely asked in community development: not what project a community can obtain, but what it can own permanently.
The reserve is held in a multisignature custody arrangement and is supported by publicly verifiable reserve proofs, allowing residents and the public to directly verify their holdings on the Bitcoin network. Its governance framework prohibits speculative trading, lending, leverage, private withdrawals, and personal profit-taking. The Bitcoin held in the reserve will not be lent out, pledged as collateral, or re-pledged under any circumstances.
In addition to its reserve, ABR provides financial literacy and Bitcoin education programs, including the ABR Bitcoin School for youth, parents, and older adults without technical or financial backgrounds. In March 2026, the organization hosted a community summit at the Altgeld Community Center, bringing residents together with local leaders.
“For a community like Altgeld, most things that enter the community are projects, and projects end,” said Himanshu Sahay, co-founder of Arch Lending. “We support this project as contributors, not as lenders. Bitcoin remains a reserve, and that does not change because of our involvement.”
"Altgeld previously received investment, but it never had something truly its own that could be passed down to the next generation," said Shephard. "It was only because private partners took this seriously that it became a reality visible to residents."
“One year ago, the Illinois House recognized Altgeld Gardens as the location of the first community-operated Bitcoin reserve in the United States,” said Illinois Representative and Assistant Minority Leader John M. Cabello. “This reserve has always been about education, resilience, and building intergenerational wealth for underserved communities. The support from private partners exemplifies the kind of innovation and community-centered progress we should encourage across Illinois.”
A replicable pattern
ABR describes Altgeld Gardens as a proof of concept for a broader community Bitcoin reserve framework that includes universal standards for custody, transparency, education, and governance, which other communities can adopt. The organization has engaged with Chicago and Illinois officials to discuss how to support this model, and related legislation is currently under review by the Illinois General Assembly.
Arch Lending has no ownership, claim, return on investment, or governance rights over the reserves, nor does it control reserve transactions.
As the reserve grows and financial literacy and Bitcoin education initiatives advance, ABR also welcomes additional contributions from the community and private sector.
Support Altgeld Bitcoin Reserve
Individuals and institutions can donate Bitcoin directly to the reserve at communitybitcoinreserve.org. Select the orange marker for Altgeld Gardens on the map, scroll to the bottom of the page, and generate a Bitcoin address. Funds donated this way will go directly into the Altgeld Bitcoin Reserve.
About Arch Lending
Arch Lending is a U.S.-based lending platform that allows holders of alternative assets to borrow against their holdings without selling them. The platform supports Bitcoin, Ethereum, Solana, XRP, PAX Gold, and Tether Gold as collateral. Eligible client assets are held in segregated custody at a 1:1 ratio by Anchorage Digital, a federally chartered bank and qualified custodian, and these assets are not rehypothecated. Arch Lending is operated by ChainFi, Inc. For more information, visit archlending.com.
About Altgeld Bitcoin Reserve
The Altgeld Bitcoin Reserve is a long-term community reserve consisting solely of bitcoin, established in Altgeld Gardens, Chicago. It has been officially recognized by the Illinois House of Representatives through Resolution 446, passed in October 2025. For more information, visit communitybitcoinreserve.org.
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Genius PR
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SOURCE Arch Lending