US Strategic Bitcoin Reserve audit now 172 days overdue

Donald Trump’s ordered audit of crypto assets intended for a Bitcoin Reserve and Digital Asset Stockpile is now overdue by 172 days.

The review, which was supposed to inspect the crypto holdings of various federal agencies, was due on April 5 after Trump issued his executive order.

However, there have been no announcements from the US Treasury site, or its Secretary Scott Bessent, the US “Crypto Czar” David Sacks, or even Trump himself that indicate a review has taken place.

Further detracting from hopes of a strategic crypto reserve, The Rage reported yesterday that the Treasury doesn’t have any such report and that it redirected The Rage to other agencies for information.

These include the IRS and its Criminal Investigations branch, Homeland Security Investigations, and the US Secret Service.

After a search of likely publication locations and published reporting, Protos was unable to identify any public release of the promised audit.

Read more: FOIA reveals US Marshals sitting on at least $1.6B in BTC

The reserve’s scope has also been watered down over the year. Bessent revealed the US is probably not going to be buying any bitcoin (BTC) for the reserve, which will only utilize seized and forfeited crypto.

Additionally, last month, Sacks noted that the reserve’s foundation would be forfeited BTC, and any explored expansion of BTC holdings would be based on “budget-neutral pathways.”

Forfeited crypto is technically owned by the US. The US Marshals Office, which is in charge of seized and forfeited criminal assets, appears to be holding 28,988 forfeited BTC based on an unredacted document.

This is a far cry from the 200,000 BTC that crypto tracker Arkham says is held by the US. Many believed this sum would be under the complete ownership of the US, but it appears to be a mixture of seized and forfeited funds.