New FOIA Response Reveals No Progress On Strategic Reserve
In response to a Freedom of Information Request filed by The Rage, the Treasury discloses that it has still not received reports on agency authorities to transfer assets to the Digital Asset Stockpile.
Update: This article was incorrectly titled no progress on the Strategic Bitcoin Reserve, but the information we obtained pertains to the progress of the Strategic Reserve as a whole, with no focus on any specific coin. The title was updated on Sept. 23, 8.30am ET.
On March 6th, President Trump tasked Federal agencies to review their authorities to transfer any assets held to the Digital Asset Stockpile. The reports on these authorities were due to be delivered to the Treasury for review 30 days after the publication of Trump's Executive Order, corresponding to April 5th, 2025.
Naturally, we filed a Freedom of Information Request with the Treasury to obtain the results of said reports. Except that... the Treasury doesn't have them.
In response to our request, the Treasury instead directed us to contact agencies with seizure and forfeiture authority directly, including the IRS, IRS Criminal Investigations, Homeland Security Investigations, as well as the US Secret Service.
Our FOIAs on the reports on total assets held by federal agencies – which were also due to be reported to the Treasury by April 5th, 2025 – remain pending. Earlier this year, we revealed that the US Marshal Service, the agency which manages the US Government's Forfeiture Program, only holds around 30,000 BTC – far off from the widely advertised 200,000 BTC estimated to be property of the US Government.
It should be noted that such discrepancy in numbers is likely due to the fact that current BTC trackers do not differentiate between seized funds which may eventually be given back to victims, and forfeited funds, which have been made property of the US Government – and not, like Senator Lummis falsely speculated in response to our reporting, because the Government was selling its bitcoin.
All in all, it should be questionable how seriously the Trump administration is taking the establishment of a Strategic Reserve when not even simple tasks like reports on asset holdings and authorities seem to be complied with.
If you were a single issue voter, it may be about time to demand some accountability from your Government.
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