US government holds $36 billion in Bitcoin after largest-ever forfeiture action
Key Takeaways
- The US government now holds more than $36 billion in Bitcoin, much of it seized from criminal activities.
- Federal authorities, under Trump, have taken a strategic approach to managing seized Bitcoin, treating it as a digital reserve rather than liquidating it.
The US government’s Bitcoin holdings have climb to roughly $36 billion following the seizure of 127,271 BTC worth more than $14 billion at current prices.
The assets were confiscated as part of a Department of Justice forfeiture action linked to an indictment against Chen Zhi, chairman of Cambodia’s Prince Group. Prosecutors allege the conglomerate operated forced-labor scam compounds tied to global crypto investment fraud schemes.
The seized Bitcoin, said to come from the scam proceeds, is now part of the DOJ’s biggest-ever forfeiture case. A DOJ official confirmed to DB that the funds are in custody.
According to data from Arkham Intelligence, a US government-linked wallet currently controls about 197,354 BTC, valued at $22 billion. With the latest seizure, the total amount of Bitcoin held by the government is nearing 325,000 BTC.
