The US Just Seized $14 Billion in Bitcoin – Will It Go into Strategic Reserves?

The US government has just seized more than $14.4 billion in Bitcoin from Chen Zhi , the boss of a Cambodian conglomerate accused of running a global cryptocurrency scam.

This is the largest seizure in the history of the US Department of Justice, raising the question: What will Washington do with this “digital gold mine”?

The US has indicted Chen Zhi for wire fraud and money laundering , and is seeking the permanent forfeiture of more than $14 billion in Bitcoin .

Observers have questioned whether the assets will be transferred to the Trump administration’s strategic Bitcoin reserve or compensated for victims. However, the Treasury Department – ​​the agency that oversees the nation’s Bitcoin – has not commented on how the seized funds will be handled.

The US government’s decision to seize more than $14 billion in Bitcoin could have a major impact, with many supporters hoping to use the assets to bolster President Trump’s Strategic Bitcoin Reserve. Senator Cynthia Lummis praised the move, saying that converting criminal assets into national value was a demonstration of “sound policy.”