TL;DR
- The mandatory report on the U.S. federal government’s crypto holdings, ordered by Trump over 35 days ago, still hasn’t been released.
- David Sacks, appointed as the “Crypto Czar,” promised full transparency, but his current silence raises doubts within the crypto community.
- The U.S. government is believed to hold over $16 billion in crypto, mostly Bitcoin, some tied to high-profile legal cases.
Just over a month ago, Donald Trump signed a groundbreaking executive order: requiring all federal agencies to audit their cryptocurrency holdings within 30 days. That deadline expired five days ago, and yet no report has been made public. This lack of transparency contradicts Trump’s recent pro-crypto rhetoric, especially as he tries to position himself as the most Bitcoin-friendly political leader in U.S. history.
David Sacks, appointed as Trump’s “Crypto Czar,” had publicly committed to executing the order in full. He even criticized previous administrations for lacking transparency around the government’s digital asset holdings. However, neither Sacks nor Treasury Secretary Scott Bessent have released any details regarding the audit. Some speculate that the report may have been submitted privately, since the executive order did not explicitly require it to be made public. Still, the silence surrounding the matter has stirred concern, particularly given that the government is estimated to hold over $16 billion worth of crypto assets, primarily in Bitcoin.
A Historic Opportunity For The Crypto Ecosystem
If eventually made public, this audit could have a huge impact. Revealing that the U.S. government holds substantial amounts of Bitcoin would serve as unprecedented institutional validation for the leading cryptocurrency. Historically, many of these holdings stem from seized assets in high-profile criminal cases, such as the notorious Bitfinex hackers Ilya Lichtenstein and Heather Morgan. Yet instead of selling off these assets, the government has chosen to retain them, a move that some interpret as a long-term vote of confidence in Bitcoin’s value.
Silence That Speaks Louder Within The Crypto Community
The lack of official information has led to widespread speculation across platforms like X (formerly Twitter) and various crypto forums. Many see this as a missed opportunity to reinforce the narrative of financial sovereignty that the crypto movement so passionately advocates. Others believe the delay could be strategic—perhaps due to internal disagreements or regulatory pressure. Meanwhile, Trump’s silence on Truth Social only deepens the mystery. At a time when institutional adoption of crypto is gaining momentum, transparency could be the defining factor in shaping the future of crypto regulation in the U.S. and beyond.
