Bessent’s refusal to expand Bitcoin reserves while sitting on $20B in seized assets highlights D.C.’s incoherent crypto strategy. Halting sales stabilizes markets, but freezing acquisitions surrenders strategic advantage to rivals like China. The Treasury’s approach—hoarding confiscated coins without a clear roadmap—mirrors the same bureaucratic indecision that plagues foreign aid and defense contracting.
If seized Bitcoin is a national asset, treat it like one: audit the holdings, leverage it for economic leverage, and stop letting D.C. insiders waffle between panic sells and stagnation.
Taxpayers deserve a plan that’s proactive, not reactive.
The stakes are too high for indecision—see the full analysis: https://t.co/i1TeG4EPJI
BYBIT hacker can’t sell $1.45 billion
ETH for USDC or USDT because it
will get frozen by circle or tether.
So he just took $1.46 billion selling
pressure from ETH
For BYBIT to cover customer ETH,
they will have to buy $1.46 billion
worth of ETH from market.