Federal agencies in the United States are gearing up to file their cryptocurrency holdings with the Treasury, as mandated by a presidential executive order issued earlier this month.
Anonymously sourced information from within the White House indicates that these reports are expected by Monday, as noted by journalist Eleanor Terrett.
While agencies are required to submit their findings to Treasury Secretary Scott Bessent, the executive order does not stipulate that this information be made public.
“It remains uncertain if or when the results might be publicized,” Terrett remarked.
Concerns about the lack of accountability have been voiced by several community members, who are questioning the nondisclosure of public crypto holdings. Some believe the government should release this information, asserting that “they work for the people,” while others have labeled the situation as “shady.”
During a podcast appearance last month, David Sacks, the AI and Crypto advisor for Trump, mentioned that the U.S. once possessed about 400,000 BTC, selling nearly half for a mere $366 million. He highlighted that holding onto those coins would have been far more lucrative, with a current worth exceeding $17 billion based on recent values.
As of April 7, data from Arkham Intelligence indicates that the government now holds approximately 198,000 BTC, equating to around $15 billion. Additionally, other cryptocurrencies, including ETH, WBTC, and BNB, contribute another $380 million to their holdings.
The executive order, signed by President Donald Trump on March 6, mandates a comprehensive audit of federal cryptocurrency assets and the establishment of two new entities: a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
The Bitcoin Reserve, referred to as a “digital Fort Knox,” aims to retain confiscated BTC as a long-term asset, rather than selling off seized tokens as has been customary in the past.
Conversely, the Digital Asset Stockpile provides a more adaptable framework for handling assets beyond Bitcoin, such as ETH, BNB, or TRX, enabling potential sales, swaps, or other operational applications based on policy direction.
As per Sacks, the reserve will be replenished using cryptocurrencies previously seized by the government through civil and criminal forfeitures. He estimated that around 200,000 BTC is in federal custody, although a complete audit has yet to be conducted.
Meanwhile, federal agencies continue to confiscate illicit cryptocurrency. Last month, the Department of Justice seized over $200,000 in digital assets tied to Hamas, which is part of a larger terror financing operation that has funneled over $1.5 million through various exchanges and wallets since October 2024.
However, certain seized assets directly linked to victim losses may be returned. On March 3, the U.S. Attorney’s Office in Ohio announced plans to forfeit approximately $8.2 million in USDT associated with a crypto investment scam and return the funds to those who were defrauded.