Crypto Czar Reveals How Much The US Has Lost From Bitcoin Sales

Monicah W

Crypto Czar Reveals How Much The US Has Lost From Bitcoin Sales

After a spree of enforcement actions against criminal activity, the US stacked an impressive amount of Bitcoin over ten years. Crypto Czar David Sacks argues that selling the confiscated Bitcoins for a pittance has cost US taxpayers a fortune ahead of the planned Crypto Strategic Reserve.

America Could Have Gained $17 Billion From Hodling Its Seized BTC, Says Crypto Czar

Crypto Czar David Sacks has criticized previous administrations of the US government for selling off seized Bitcoins. According to Sacks, the value of the disposed assets is now worth a large fortune that could benefit US taxpayers.

In a post on X, Sacks disclosed that the US sold nearly 195,000 BTC over ten years for only $366 million. He argues if the federal government did not sell the Bitcoins, the assets would have been worth over $17 billion as Bitcoin eyes $100,000.

“If the government had held the bitcoin, it would be worth over $17 billion today,” said Sacks. “That’s how much it has cost American taxpayers not to have a long-term strategy.”

The US government’s BTC holdings came from busting criminal activities on the deep web with the Silk Road seizures topping the list. At the time, US authorities confiscated nearly 170,000 in a single bust from Silk Road founder Ross Ulbritch in 2013.

In 2020, authorities seized an additional 69,370 BTC and an additional 50,000 BTC associated with the Silk Road project.

US Authorities Sold Confiscated Bitcoins In Droves

The U.S. Marshalls Service (USMS) holds the confiscated BTC and organizes auctions for the sale of the assets. The Department of Justice (DoJ) has approved several BTC auctions drawing criticisms from several quarters over the handling of sales.

The last sale occurred barely 10 days before new President Donald Trump assumed office amid whispers of a national Bitcoin Strategic Reserve for the US. President Trump has announced a Crypto Strategic Reserve tapping Bitcoin and a slew of altcoins to bolster holdings.

“This isn’t just mismanagement. It’s theft from American taxpayers,” said Jane Adams on X. Imagine what could’ve been done with that wealth if only they had a clue about long-term strategy.”

As the government inches toward a Bitcoin reserve, the sale of confiscated Bitcoins will be a rarity in the US. Furthermore, the US may earmark a portion of its budget to scoop Bitcoins following high-level discussions in Friday’s White House Crypto Summit.

The post Crypto Czar Reveals How Much The US Has Lost From Bitcoin Sales appeared first on CoinGape.

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Crypto ETF: What To Expect from BTC, ETH, and XRP ETF in May 2025?

Crypto ETF: What To Expect from BTC, ETH, and XRP ETF in May 2025?

The crypto ETF industry is gaining high attention and momentum, beginning with the high inflows in the Bitcoin (BTC) exchange-traded fund. Although to this day, only two spot ETFs have been approved, more than 72, including XRP filings, await the U.S. Securities and Exchange Commission (SEC) approval. Let’s discuss what’s coming next.

There are 72 ETF filings for Crypto ETFs, with a decision due this year.

We are FAR from being done. pic.twitter.com/RREDBa1JS6

— THG (@CryptoTHG) April 23, 2025

 Crypto ETF Delayed After SEC’s Review

The approval of BTC and ETH ETF opened the possibility of many others’ approval. However, despite the crypto ETF filing, the SEC decision on 72 filings remains under review. April was anticipated to bring better clarity from the SEC on some of these exchange-traded funds, like Franklin Templeton’s XRP spot ETF, but that has been postponed until June.  Fidelity’s ETH ETF staking provisions also got delayed.

Crypto ETF delayed

In a recent X post, a Bloomberg analyst anticipated further delay, claiming that this could extend till October 2025 or later. Experts claim a better response could come with Paul Atlins joining the SEC office fully before anticipating potential approval in Q3-Q4 2025.

We also had the SEC delay decisions on Ethereum Staking and Dogecoin ETFs today. I am expecting more delays today or at least this week on some Solana and Hedera/HBAR ETF filings. This is expected IMO. Final deadlines for most of this stuff is in October 2025 or later. https://t.co/kOZNCSjy6c

— James Seyffart (@JSeyff) April 29, 2025

BTC, ETH ETF Inflow Returns While XRP ETF Remains Stranded

Bitcoin ETF was the first to get the SEC’s approval in early 2024, gaining a total volume of $2.54 billion. The total asset management comes at $113.62 billion, with the total market cap of $112.33 billion. Due to its popularity, it pushed the Bitcoin price to new highs.

BTC ETF

Although Ethereum ETF gained less popularity than the other, it is still in demand. Its market cap sits at $177.15 billion, with total volume of $177.15 million and total AUM of $8.69 billion, per Coinglass data. However, the crypto market crash amid the Trump trade war affected the performance of these exchange-traded funds, but they recovered recently.

ETH ETF

CoinGape earlier reported that spot Bitcoin ETFs inflow stood at $591M and $172.8M on Monday and Tuesday, respectively. At the same time, ETH witnessed $35.81k and $10.23k, but more is anticipated with investors’ bullish sentiments.

What to Expect from Crypto ETF in May 2025?

In contrast to early anticipation, there’s not much new around crypto ETF in May 2025. However, the CME futures XRP ETF launch is set to happen on May 19. This could influence other updates on the matter, especially as Paul Atkins’ participation increases.

Besides, the SEC has shifted its regulatory stance on cryptocurrencies. As a result, some better updates on altcoin ETF approval can be anticipated for the upcoming months, but uncertainty remains. In case of already launched exchange-traded funds, better inflows may begin. This is due to financial market recovery amid Fed rate cuts and other macroeconomic events.

The post Crypto ETF: What To Expect from BTC, ETH, and XRP ETF in May 2025? appeared first on CoinGape.

Solana Meme Coin MOODENG Rallies 700% in a Week, Aims For New All-Time High

MOODENG, the Solana-based meme coin, has recently experienced an incredible 700% surge in price over the past week. This jump has positioned it as one of the top-performing tokens, and the growth is expected to continue as the market embraces the meme coin. 

With momentum building, MOODENG is well on its way to potentially reaching a new all-time high (ATH).

MOODENG Finds Demand

The surge in MOODENG’s price is driven by organic demand, as indicated by the Open Interest (OI) data. Over the past week, traders have poured $324 million into the meme coin, pushing the OI from $18 million to $342 million. This 1,800% increase in OI suggests a strong market interest, with demand for MOODENG extending beyond its spot market performance.

In the futures market, the strong interest in MOODENG also points to growing optimism around the token. With $324 million flowing into the futures contracts, it’s evident that traders are betting on the meme coin’s success.

MOODENG Open Interest.
MOODENG Open Interest. Source: Coinglass

Data from Holderscan shows that MOODENG’s holder base has expanded significantly, now reaching 75,000 holders. Interestingly, the distribution of assets among holders with less than $10 worth of the token has surged from 17% to 33% in the last ten days.

This shift indicates that smaller retail investors are now actively buying MOODENG, further boosting its market presence. This growing number of smaller holders suggests that MOODENG is gaining traction among institutional investors and with retail participants who see potential for substantial gains. 

MOODENG Holder Distribution.
MOODENG Holder Distribution. Source: Holderscan

MOODENG Price Aims At New High

MOODENG’s price has shot up by 703% in the past week, currently trading at $0.305, just below the resistance of $0.355. The recent rally has positioned the coin near its ATH, and breaking through the $0.355 resistance could open the door for further price appreciation.

If MOODENG manages to breach the $0.355 barrier and flip it into support, it could surge past its previous ATH of $0.700. The continuation of the bullish trend would likely push the price even higher, solidifying MOODENG’s position as a major meme coin in the market.

MOODENG Price Analysis.
MOODENG Price Analysis. Source: TradingView

However, if MOODENG fails to break through the $0.355 resistance, a decline is possible. In this scenario, the meme coin’s price could fall back to $0.180 or even lower if profit-taking increases among investors. This would invalidate the current bullish outlook and prompt a correction in price.

The post Solana Meme Coin MOODENG Rallies 700% in a Week, Aims For New All-Time High appeared first on BeInCrypto.

5 Things to Know About XRP Futures Before CME Launches Them on May 19, 2025

5 Things to Know About XRP Futures Before CME Launches Them on May 19, 2025

The fourth biggest cryptocurrency of the market, XRP, is up for a major milestone, as the Chicago Mercantile Exchange group (CME) is set to launch XRP futures on May 19, 2025. CME is the world’s largest derivative market, so this decision could bring a lot of opportunity for the altcoin, especially as the XRP price attempts recovery from the earlier crash. Before CME launches the futures, let’s discuss key details around it.

5 Not-to-Miss Things About CME Group XRP Futures

The official XRP futures launch is just days away, but the hype is rising even now. It is the first ever introduction of the Ripple token on one of the biggest traditional financial systems around the world.

CME Group XRP Futures

Interestingly, these contracts are cash settled, which means that the users would not actually have to hold XRP. Instead, they would simply bet on the XRP price movement and settle the trade with normal currency (U.S. Dollar).

It will be in two different versions, allowing investors to choose according to their capabilities. One includes the standard CME group XRP futures (XRP), where the contract size is 50,000 XRP per contract. And the other is a Micro one (MXP), having 25,00 XRP per contract.

Chicago Mercantile Exchange group Futures

The latter one is more accessible for the smaller traders. Another thing to note is that the prices will be tracked on CME’s own XRP-Dollar Reference Rate, published at 4 p.m. daily, London time.

The Global Head of Crypto Products at CME, Giovanni Vicios, claims that this decision is made considering the rising institutional and retail demand for the Ripple token product. Recently, Teucrium launched a 2x XRP ETF. Even Robinhood is considering plans to introduce Ripple futures on its platform.

More importantly, this launch is part of the Chicago Mercantile Exchange group’s bigger plan, expanding into more altcoin derivatives.

Why is This CME Group XRP Future Launch a Big Deal?

CME launching Ripple tokens’ futures is the first ever listing of the cryptocurrency on the traditional financial market. However, this is just there’s more to it. The SEC has not approved the XRP ETF due to the regulatory issues with the asset.

Interestingly, experts like Hunt believe CME’s move could strengthen the case for XRP ETF approval, as its influence is huge.

XRP ETF launch

Moreover, Paul Atkins is the new SEC Chairman after Senate approval. So, better events regarding regulatory clarity of the Ripple vs SEC, ETF, and the XRP price are anticipated.

At present, the token trades at $2.20, but investors await the Ripple price hitting $10 amid such bullish cases.

The post 5 Things to Know About XRP Futures Before CME Launches Them on May 19, 2025 appeared first on CoinGape.