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Reports confusing the difference between seized and forfeited assets have led pro-crypto Senator Cynthia Lummis to panic that the US has committed a “total strategic blunder” by selling off 179,000 bitcoin (BTC). Numerous Bitcoiners and crypto news outlets reported that the US sold 85% of its BTC holdings ($21 billion) after a freedom of information request revealed that the US Marshals Service only holds 28,988 in forfeited BTC.  They believed that the US held almost 200,000 BTC ( worth $23 billion ) based on data from crypto trackers such as Arkham and Bitcoin Treasuries, and that it must have sold off most of this stash.   Upon seeing the reports, a worried Lummis said, “If true, this is a total strategic blunder and sets the United States back years in the bitcoin race.” I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves—leaving just ~29,000 coins.  If true, this is a total strategic blunder and sets the United States back years in ...

The governor of the Czech National Bank, Aleš Michl is now considering establishing a Bitcoin reserve strategy in the future. According to Michl in an interview with CNN Prima News, he is considering acquiring “a few Bitcoin” for diversification. Although the investment wouldn’t be a significant one for the bank, it does open the doors for a potential Bitcoin reserve. Multiple countries around the world are considering adopting Bitcoin into their financial reserves, as the leading cryptocurrency by market cap continues to climb in value. The token exploded to a new ATH of $100,000 this past year, and is expected to continue rising in the near future. As countries look for alternatives to fiat, including the US dollar, cryptocurrency is gaining traction. The Czech National Bank’s board, composed of seven members, would need to approve any decision to acquire Bitcoin. When asked about a potential acquisition, Janis Aliapulios, an adviser to the board, stated that the bank is not cu...

Over $20 million worth of seized stablecoins and Ethereum was transferred out of a wallet linked to the US government in what is being considered a theft. On-chain analytics firm Arkham Intelligence revealed that the attacker sent funds tied to the 2016 Bitfinex hack to a five-day-old wallet address. “$20M in USDC, USDT, aUSDC and ETH has been suspiciously moved from a USG-linked address,” it said in an Oct. 24 post  on X.  Hacker Starts Laundering The Government’s Funds Through Various Platforms Shortly after the transfer out of the government’s wallet, the hacker started converting the stablecoins into ETH through addresses likely associated with a money-laundering service, according to Arkham Intelligence. funds are going to instantly exchanges looks nefarious — ZachXBT (@zachxbt) October 24, 2024 On-chain sleuth ZachXBT said that some of the funds have also been moved to instant exchanges. One of these platforms sources its liquidit...