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A bombshell revelation has left the cryptocurrency community scratching its head as a Freedom of Information Act (FOIA) request by independent crypto journalist L0la L33tz has revealed that the United States Marshals Service (USMS) holds significantly less Bitcoin than initially estimated. According to the report, the government agency appears to hold only 28,988 BTC as of March 2025, a stark contrast to the staggering $200,000 worth approximately $23.5 billion, estimated by blockchain analytics platforms like Arkham Intelligence and Bitcoin Treasuries.
This unexpected turn of events has sparked intense speculation across the cryptocurrency space, with some experts questioning whether the government has been quietly offloading its Bitcoin reserves. US Senator Cynthia Lummis, a vocal advocate for a national Bitcoin reserve, expressed her concern over this development, stating that it would be a “total strategic blunder” and set the United States back years in terms of its position on the global cryptocurrency landscape.
In response to these revelations, some analysts are pointing out that seized assets do not automatically become government property. Instead, the authorities may be working with custodians like Coinbase to facilitate off-chain swaps, which would explain the lack of visible on-chain activity. While this theory provides a potential explanation for the discrepancy, it remains unclear who controls the private keys for these Bitcoin holdings.
The significance of this finding cannot be overstated.
Source: cryptoslate.com
