White House Confirms Seized Bitcoin Added to Federal Reserve
- The White House announced that $6.4 million in seized Bitcoin from Samourai Wallet developers will be added to a national Bitcoin reserve.
- Legal documents suggested the Department of Justice (DOJ) intended to liquidate the funds, contrary to a presidential executive order.
- Samourai developers Keonne Rodriguez and William Lonergan Hill are serving prison sentences for operating an unlicensed money transmitter.
- Despite President Trump’s openness to pardons, none have been issued for Rodriguez and Hill.
The nearly $6.4 million worth of Bitcoin seized by federal law enforcement from the creators of privacy tool Samourai Wallet has not been liquidated, countering previous concerns about DOJ intentions. Instead, these assets will bolster the federal government’s strategic Bitcoin reserve, aligning with President Trump’s executive order from March.
This decision highlights the administration’s commitment to maintaining a federal Bitcoin reserve while addressing legal and ethical concerns surrounding asset liquidation practices by government entities. (Source)
