The audit of US federal agencies’ cryptocurrency holdings is now five days late.
Former President Trump issued an executive order 35 days ago mandating a 30-day period for all federal agencies to audit their crypto assets.
This deadline passed five days prior, yet the audit report is not publicly available.
“Crypto Czar” Pledged Transparency, No Report Released
David Sacks, designated as “Crypto Czar” by the Trump administration, had stated his commitment to fulfilling the executive order’s requirements.
During media appearances following the order, he had voiced concerns about the lack of clarity surrounding the government’s cryptocurrency ownership.
Sacks asserted that the audit would provide clarity and accountability regarding government crypto finances.
Executive Order Mandated Full Accounting, Unfulfilled
Sacks was expected to submit a complete report to Treasury Secretary Scott Bessent last week.
Trump’s executive order required “a full accounting of all government digital assets in each agency’s possession, including details on custodial accounts.”
Neither Sacks nor any other authority has released this full accounting to date.
An audit of US federal crypto holdings is now overdue.
Potential $16 Billion in Crypto Tied to Litigation
Estimates suggest the US government may possess over $16 billion in cryptocurrency, primarily Bitcoin (BTC).
Much of this Bitcoin is involved in litigation related to Bitfinex and the case against hackers Ilya Lichtenstein and Heather Morgan, also known as Razzlekhan.
Silence Fuels Speculation in the Crypto Community
It is possible the audit is complete and was privately delivered to Secretary Bessent, as public release was not explicitly required by the executive order.
Sacks has made no public remarks regarding the audit. Trump has also remained silent on Truth Social and X.
With a lack of both media coverage and official statements concerning this anticipated audit, the crypto community can only speculate on the extent of US government crypto holdings.
Also Read: Trump Signs Resolution to Block IRS Rule on DeFi Brokers
