The US government is seeking court approval to forfeit 20.2 Bitcoin (BTC) seized by the Dallas FBI from the Chaos ransomware group.
This forfeiture is part of the government’s initiative to bolster its Strategic Bitcoin Reserve, aimed at managing and utilizing seized cryptocurrency assets strategically.
The move comes amid questions regarding the total amount of Bitcoin held by various US government entities. Despite blockchain analytics firms estimating holdings of approximately 198,012 BTC, a recent Freedom of Information Act (FOIA) request revealed the US Marshals Service (USMS) currently holds only 28,988 BTC.
The discrepancy highlights that Bitcoin seized by different agencies isn’t centrally tracked by the USMS, suggesting holdings exist within other branches.
Parallel to federal actions, at least 30 US states have introduced legislative proposals to establish their own Bitcoin strategic reserves. States like Arizona, Texas, and New Hampshire have already passed laws supporting such initiatives.