'We Can't Afford To Squander These Strategic Assets': Sen. Cynthia Lummis Slams Report That DOJ Sold Bitcoin In Potential Violation Of Trump's Executive Order

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U.S. agencies whitethorn not beryllium doing capable to accumulate Bitcoin successful accordance with the March enforcement bid signed by President Donald Trump, Sen. Cynthia Lummis (R-WY) fears.

“Why is the U.S. gov inactive liquidating bitcoin erstwhile @POTUS explicitly directed these assets beryllium preserved for our Strategic Bitcoin Reserve?” Lummis said Tuesday connected X, citing a Bitcoin Magazine study that the U.S. Court for the Southern District of New York sold Bitcoin tied to the Samourai wallet case.

“We can’t spend to squander these strategical assets portion different nations are accumulating bitcoin,” Lummis continued. “I’m profoundly acrophobic astir this report.”

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Samourai wallet was a privacy-focused Bitcoin wallet that utilized tools to let users to conceal the root of transactions. The work was taken down successful 2024 pursuing a national probe that culminated successful the developers Keonne Rodriguez and William Lonergan Hill pleading blameworthy to operating an unlicensed wealth transmitter.

Rodriguez and Hill were each sentenced to 5 and 4 years successful prison. They besides jointly paid $6.4 cardinal successful forfeiture, representing the fees earned from Samourai’s operation.

Rodriguez and Hill paid the $6.4 cardinal successful BTC, Bitcoin Magazine reported Monday, adding that it had apt been sold by the Marshals Service. The Marshals Service had perchance violated Trump’s enforcement bid directing agencies to clasp connected to integer assets from transgression oregon civilian forfeitures arsenic portion of a nationalist reserve, Bitcoin Magazine reported.

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The study cited tribunal documents granting the Marshals Service support to liquidate the Bitcoin and on-chain information showing that the assets had been sent to Coinbase’s (NASDAQ:COIN) institutional-facing Coinbase Prime unit.

However, the Marshals Service has denied selling the Bitcoin successful question, cryptocurrency quality outlet DL News reported.

“USMS cryptocurrency liquidations spell done a multi-level support process to guarantee lone forfeited integer assets that conscionable the requirements of Section D of Executive Order 14233 are disposed,” the bureau reportedly told DL News.

The Marshals Service did not instantly respond to a petition for remark from Benzinga.