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.
Mark Uyeda, Acting Chair of the US Securities and Exchange Commission (SEC), has encouraged crypto industry participants to offer input on a proposed framework. The initiative is designed to ease regulatory pressure on digital asset trading.
Speaking at the SEC’s April 11 Crypto Task Force roundtable, Uyeda highlighted the growing disconnect between current regulations and the realities of blockchain innovation.
SEC Considers Federal Licensing Model to Streamline Crypto Compliance
Uyeda likened the evolution of crypto markets to the early days of US securities trading, which began under a buttonwood tree in New York City.
He argued that early brokers created rules that suited the needs of their time. In the same way, modern regulators must now consider frameworks that align with the distinct structure of crypto platforms.
Unlike traditional exchanges, crypto trading systems often combine custody, execution, and clearing into one platform. Blockchain technology makes this integration possible.
Uyeda pointed out that this setup can improve transparency, efficiency, and trading speed. He also highlighted benefits like 24/7 trading through smart contracts and streamlined collateral management via tokenization.
“Blockchain technology offers the potential to execute and clear securities transactions in ways that may be more efficient and reliable than current processes,” Uyeda said.
Still, Uyeda acknowledged that the architects of US securities laws never anticipated blockchain technology or decentralized systems. As a result, compliance challenges have emerged as many tokenized securities remain unregistered and ineligible for national exchanges.
Besides that, existing rules, such as the order protection rule, are also difficult to apply in hybrid trading environments where assets move between on-chain and off-chain systems.
Uyeda also criticized the current patchwork of state-by-state licensing requirements, which create barriers for crypto firms aiming to operate nationwide.
To address these gaps, Uyeda proposed a conditional relief framework that could support experimentation while maintaining investor protections. He also suggested that a unified federal licensing model under the SEC could simplify compliance and enhance market consistency.
“Under an accommodating federal regulatory framework, some market participants would likely prefer to offer trading in both tokenized securities and non-security crypto assets under a single SEC license rather than offer trading solely in non-security crypto assets under fifty different state licenses,” Uyeda said.
Nonetheless, he invited industry experts to recommend specific areas where such relief would unlock practical use cases without undermining market integrity.
Uyeda’s remarks signal the SEC’s growing awareness that digital asset regulation must evolve. While long-term reform may take time, the proposed relief framework could create room for innovation without compromising market safeguards
March proved to be a challenging month for many altcoins, with several experiencing sharp corrections. However, as Q2 2025 approaches, some tokens are positioned to benefit from potential improvements in market conditions.
BeInCrypto has analyzed four altcoins that, while not on the verge, are closer than others to reaching new all-time highs.
Gate (GT)
GT is currently trading at $23.50, just 10% away from its all-time high of $25.96. To reach this level, the altcoin needs to breach and flip $23.94 into a support level. A successful break above this resistance could pave the way for further price gains.
Market conditions suggest that GT could experience a price increase in the coming days, provided investors refrain from selling at the sight of profits. If this occurs, GT could push past $25.96 and potentially form a new ATH.
However, $23.94 has acted as a strong resistance for the past two months. If GT fails to breach this level, it could fall back to $22.56 or even lower to $21.25. Such a drop would invalidate the bullish outlook and potentially extend the current downtrend.
BNB
BNB has made several attempts to reach its all-time high of $793 since December 2024 but has consistently failed to break the $741 resistance. Despite sharp declines, the altcoin has shown resilience, bouncing back each time, indicating some level of investor confidence and market interest in its future performance.
Currently, BNB is holding above the critical support block between $587 and $619, standing about 25% away from its ATH. If broader market conditions turn bullish, BNB could be poised to attempt a new ATH within the next month.
While BNB may face challenges at the $741 resistance level, strong support could push it through this barrier. However, if BNB fails to break $647 first, it could see a decline below the $619 support level. This would invalidate the bullish outlook and potentially extend the current downward trend.
MANTRA (OM)
OM’s price is currently trading at $6.58, still far from its all-time high of $9.17, requiring a 40% rise to reach that level. Despite this, the altcoin has significant potential to rally. A positive shift in market sentiment could drive it toward higher price levels.
Strong bullish momentum has fueled OM’s rise, with the altcoin reaching an ATH of $9.17 towards the end of February. The continued inflow into OM signals the possibility of another rally. If OM successfully breaches $7.02 and flips $7.74 into support, it would solidify the bullish outlook.
However, if OM fails to breach the $7.02 resistance, the altcoin could fall back to $6.17. This drop would likely continue its consolidation phase, as seen earlier this month, and invalidate the bullish thesis. A failure to break key resistance levels would limit price growth.
Cheems (CHEEMS)
CHEEMS, though a lesser-known coin, has been gaining bullish momentum this month. Earlier this week, the altcoin formed a new all-time high at $0.000002179. This recent price surge indicates growing investor interest and the potential for further gains if market conditions remain favorable.
For CHEEMS to form a new ATH beyond $0.000002200, it will need a 25% rally from its current price. The altcoin is likely to bounce off the $0.000001660 support level, which could help capitalize on the current bullish momentum. A sustained move above this level could signal further upside potential.
However, if CHEEMS fails to hold above the $0.000001660 support, it could face significant downward pressure. A drop below this level could result in CHEEMS falling to $0.000001461 or even as low as $0.000001132. Such a decline would invalidate the bullish outlook and may extend the downtrend.
Trust Wallet surpassed 200 million downloads this year and ranked as the most downloaded wallet globally in March 2025. As more users look for direct control over their digital assets, the company is shifting its focus from simple storage to a broader set of tools for interacting with Web3.
In this interview, CEO Eowyn Chen discusses Trust Wallet’s product direction, the growing role of AI, and what it takes to design accessible tools without compromising on autonomy. She also reflects on her leadership approach and the long-term vision behind the company’s push toward user empowerment.
Eowyn Chen: Being a Web3 companion means showing up for users across every step of their journey—not just storing assets, but helping them safely explore, learn, and engage. The wallet is no longer just a tool; it’s the interface to the future economy. That means abstracting technical hurdles, offering helpful context when users need it, and keeping them protected along the way.
For us, it’s also about values—standing on the user’s side, upholding self-custody, and enabling freedom without compromise. Whether someone is making their first swap or interacting with an AI-powered dApp, the wallet should feel like a trusted guide, not a challenge to overcome.
BeInCrypto: Hitting 200 million downloads and topping March 2025’s global wallet charts is no small feat. What do you believe this milestone says about the direction of user behavior in Web3, and what signals are you paying the most attention to?
Eowyn Chen: This milestone shows that users are increasingly prioritizing autonomy, access, and ownership. Self-custody is no longer just for early adopters—it’s becoming a mainstream expectation.
We’re also seeing strong demand for tools that make Web3 simpler without sacrificing control. That means onboarding must improve, cross-chain interactions must feel seamless, and safety must be embedded into the experience.
At a deeper level, we’re tracking signals beyond just volume: retention, confidence, and the kinds of real-world problems users are trying to solve with Web3 tools. Our job is to listen closely and build with intention, not just scale for growth’s sake.
Eowyn Chen: It’s a fine balance, but an essential one. The ethos of self-custody means putting users in control—but that shouldn’t mean putting them through unnecessary friction. We’re working to abstract away pain points like gas fees, key management, and confusing transaction flows, while still keeping users informed and empowered. Our approach is to blend technical standards (like account abstraction) with intuitive UX and even AI-driven assistance. The goal is to make the complexity feel seamless—so users don’t need to think about what’s under the hood, only that it works, and they’re in control.
BeInCrypto: You’ve spoken about Trust Wallet evolving into something like the “Revolut of Web3.” What does that analogy look like in practice—and how do onramps, token discovery, and scam protection play into that larger ambition?
Eowyn Chen: Think of it as combining the polish and ease of a Web2 fintech app with the freedom and transparency of Web3.
In practice, this means enabling users to move smoothly across experiences: accessing crypto with fiat, discovering real on-chain opportunities, engaging with dApps, and avoiding threats like scams or fake tokens. It’s about building a unified experience where everything—from token discovery to protection to exploration—feels cohesive and trusted.
We’re not trying to replace banks or exchanges, but to offer a self-custody alternative that feels just as seamless and far more empowering.
BeInCrypto: TWT utility is growing beyond governance into a more integrated part of the user journey. What role do you see it playing in strengthening user retention, trust, and community participation in 2025 and beyond?
Eowyn Chen: We’re focused on aligning TWT utility with meaningful user value. That includes areas like supporting gas fees, boosting staking rewards, or unlocking loyalty and referral benefits.
The more TWT becomes part of the everyday user experience—without compromising security or sovereignty—the more it can help strengthen long-term engagement. It’s not about short-term incentives, but creating mechanisms that reward participation, build trust, and reinforce community ownership over time.
BeInCrypto: With AI-powered assistance becoming part of Trust Wallet’s interface, how do you balance the value of helpful automation with the responsibility of preserving user agency and privacy?
Eowyn Chen: We believe AI can enhance self-custody, not replace it. The key is giving users smarter context, not taking decisions out of their hands. Whether it’s flagging a suspicious address, summarizing a transaction, or helping someone troubleshoot an issue, AI should feel like a co-pilot—not a black box.
Privacy is non-negotiable, so we’re building AI in ways that don’t compromise control or expose sensitive data. The vision is a wallet that knows you well enough to help, but respects your boundaries. It’s about trust, transparency, and user-first design at every layer.
BeInCrypto: You’ve led Trust Wallet through volatile markets and deep technical shifts. What has shaped your leadership style most—and how do you keep your team aligned with a long-term mission when the industry often rewards short-term hype?
Eowyn Chen: Resilience, clarity, and values. This industry moves fast, but we’ve seen time and again that chasing hype doesn’t build lasting trust.
What grounds me is staying close to our users and our mission: to empower people with ownership, access, and opportunity. I try to lead with transparency—sharing both our ambitions and our challenges—and to create space for builders to experiment without losing sight of why we’re here.
The best ideas often come from people who deeply care, so part of leadership is protecting that space while still moving decisively.
BeInCrypto: Looking ahead, what would success look like for Trust Wallet not just in terms of users or revenue, but in terms of reshaping how people interact with digital value every day?
Eowyn Chen: A big part of success means users don’t even have to think about the word “Web3”—they just do what they need to do, confidently and securely. Whether it’s sending money to family, collecting rewards, securely storing their crypto assets, or interacting with a digital ID, their wallet handles it naturally.
We want to help make self-custody the default experience—not just for crypto, but for digital value in all forms.
If we’ve done our job right, users will feel more empowered, more connected, and more in control of their digital lives—not just because of Trust Wallet, but because of what it enabled them to do.
