DOJ Did Not Sell Forfeited Samourai Bitcoin, White House Crypto Advisor Says
A White House crypto advisor stated the US authorities has not offered any Bitcoin forfeited within the Samourai Wallet case, pushing again towards market rumors sparked by current on-chain exercise.
Key Takeaways:
- The DOJ confirmed it has not offered any Bitcoin forfeited within the Samourai Wallet case.
- The clarification follows scrutiny over a 57.5 BTC switch that sparked sale rumors.
- The forfeited Bitcoin will stay a part of the US Strategic Bitcoin Reserve as accumulation plans proceed.
Patrick Witt, govt director of the White House President’s Council of Advisors for Digital Assets, stated he obtained direct affirmation from the US Department of Justice that the property had been neither liquidated nor earmarked on the market.
“We have obtained affirmation from DOJ that the digital property forfeited by Samourai Wallet haven’t been liquidated and won’t be liquidated,” Witt wrote on X on Friday, including that the Bitcoin would stay a part of the Strategic Bitcoin Reserve.
57.5 BTC Transfer Sparks Questions Over US Government Bitcoin Sales
Questions first surfaced in November after blockchain analysts flagged a switch of 57.5 BTC from a government-controlled pockets to a Coinbase Prime deposit deal with.
The motion prompted hypothesis that US authorities might have offered or deliberate to promote the funds, drawing criticism from market participants who pointed to Executive Order 14233.
Signed by President Donald Trump in March, the order requires that any Bitcoin obtained by way of felony or civil forfeiture “shall not be offered” and as an alternative be retained for the Strategic Bitcoin Reserve.
Some observers accused the US Marshals Service of violating the directive, allegations now denied following the DOJ clarification.
Public knowledge suggests the US authorities stays one of many world’s largest Bitcoin holders. Figures from Bitcoin Treasuries present federal authorities management 328,372 BTC, valued at greater than $31 billion at present costs.
That complete contains 127,271 BTC forfeited in October from a Cambodia-based entity accused of working a so-called pig-butchering funding rip-off.
Witt reiterated that increasing the Strategic Bitcoin Reserve stays a coverage precedence. In a current interview, he stated progress depends upon coordination between the Treasury and Commerce departments to deal with excellent authorized and operational points.
Legislative efforts are additionally underway. A invoice sponsored by Cynthia Lummis proposes accelerating reserve accumulation, focusing on the acquisition of as much as 1 million Bitcoin over 5 years.
The proposal emphasizes budget-neutral strategies, with officers saying any accumulation would keep away from prices to taxpayers.
Trump Signals Possible Pardon for Samourai Wallet Developer
Two builders behind Samourai Wallet were sentenced to prison in November after prosecutors stated the privacy-focused Bitcoin pockets processed greater than $237 million in felony proceeds.
Keonne Rodriguez obtained a five-year sentence on Nov. 6, whereas his co-developer, Hill, was sentenced to 4 years on Nov. 19. Both had been additionally ordered to forfeit roughly $6.3 million in charges earned by way of the platform.
The case took a political flip in December when Donald Trump said he would consider pardoning Rodriguez.
Speaking to reporters throughout an Oval Office occasion on Dec. 16, Trump stated he had “heard about it” and instructed Attorney General Pam Bondi to evaluation the case.
Rodriguez later welcomed the remarks, arguing on social media that the prosecution mirrored “lawfare” and a weaponized Justice Department beneath the Biden administration.
Trump has beforehand pardoned Ross Ulbricht and Changpeng Zhao in associated crypto instances, and has raised optimism of an analogous pardon for Rodriguez.
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