Overview
- Patrick Witt, the White House’s digital‑assets adviser, said at the Consensus conference on Wednesday that details on the Strategic Bitcoin Reserve will be released in the next few weeks.
- The reserve was created by a March 2025 executive order to hold forfeited bitcoin for the long term, and agencies paused quick liquidations and began audits to find and secure seized wallets.
- Witt tied the timing to a recent security incident tied to U.S. Marshals Service wallets, with investigators linking the alleged theft to John Daghita and authorities later arresting him in Saint Martin.
- Public analyses differ on losses from the Marshals‑linked exploit, with TRM Labs tracing about $24.9 million to a government‑controlled wallet while on‑chain sleuth ZachXBT has alleged a much higher total.
- The coming update is expected to cover custody systems, how the reserve and a separate stockpile for other crypto will operate, and next steps, and officials say assets in active cases stay pending until forfeiture and possible victim restitution; Witt also said Congress will still need to codify the framework through bills such as Sen. Cynthia Lummis’s BITCOIN Act and Rep. Nick Begich’s proposal.