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US Government May Return Seized Bitcoin to Bitfinex, Analyst Suggests

05.08.2024 22:00 1 min. read Alexander Stefanov
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US Government May Return Seized Bitcoin to Bitfinex, Analyst Suggests

A prominent on-chain analyst predicts that the US government might eventually return up to 100,000 seized Bitcoin to their original owners.

This follows former President Donald Trump’s recent statement at the Bitcoin2024 Conference, where he claimed his administration would retain all Bitcoin held by the US government.

According to Willy Woo, a well-known crypto analyst, Trump’s promise is unlikely to hold true.

Woo points out that a significant portion of the US government’s Bitcoin, specifically around 96,000 BTC, is linked to the 2016 Bitfinex hack.

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He expects these funds to be returned to Bitfinex after legal proceedings, given that the stolen Bitcoin was recovered by the US Department of Justice.

Woo suggests that Bitfinex, along with its affiliate Tether, may pursue legal action to reclaim these assets. He also notes that such actions would likely be conducted discreetly, reflecting Bitfinex’s preference for staying out of the spotlight.

Alexander Stefanov
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With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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