- A federally mandated audit of U.S. crypto assets for a Bitcoin Reserve is 172 days late.
- No public records or announcements confirm the audit has taken place.
- The reserve now only includes seized and forfeited digital assets, not new bitcoin purchases.
- The U.S. Marshals Service reportedly holds around 28,988 forfeited bitcoin, far less than estimates.
- Officials say any expansion of the bitcoin reserve must be budget-neutral and relies on forfeited assets.
Donald Trump ordered a review of federal crypto assets in March 2025, directing agencies to submit an audit of digital holdings for a proposed Strategic Bitcoin Reserve and Digital Asset Stockpile. The audit was due by April 5, but no documentation of its completion has been published by the U.S. Treasury, Treasury Secretary Scott Bessent, Crypto Czar David Sacks, or the former president.
Attempts to locate the report through Treasury channels have been unsuccessful, as reported by The Rage. The Treasury’s office referred requests to agencies like the IRS Criminal Investigations branch, Homeland Security Investigations, and the U.S. Secret Service. After searching all official sources, Protos stated: Protos was unable to identify any public release of the promised audit.
Recent statements suggest the reserve’s scope has been reduced over the past year. Bessent explained the U.S. would not purchase new bitcoin for the stockpile, relying only on crypto seized or forfeited in criminal cases. In a post last month, Sacks said any reserve growth would be based on “budget-neutral pathways”, meaning expansions would not require additional spending.
Ownership of forfeited digital assets, such as bitcoin, falls under U.S. government control through forfeiture laws. According to an unredacted document, the U.S. Marshals Service currently holds 28,988 forfeited bitcoin. This is significantly less than previous estimates by blockchain tracker Arkham, which suggested the government controlled roughly 200,000 bitcoin. The larger figure reportedly includes both seized and unclaimed funds rather than assets the state fully owns.
These developments follow continued calls for transparency regarding federal cryptocurrency reserves and the processes governing seized assets. For now, sources indicate the government strategy centers on existing assets, not additional acquisitions, as officials look to manage and possibly use digital currencies captured from criminal activities.
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