'We Can't Afford To Squander These Strategic Assets': Sen. Cynthia Lummis Slams Report That DOJ Sold Bitcoin In Potential Violation Of Trump's Executive Order

Core Viewpoint - U.S. agencies may not be adequately preserving Bitcoin as directed by a March executive order from President Trump, raising concerns from Senator Cynthia Lummis about the liquidation of these strategic assets while other nations accumulate Bitcoin [1][2]. Group 1: U.S. Government Actions - Senator Lummis criticized the U.S. government's ongoing liquidation of Bitcoin, questioning why assets are being sold when they should be preserved for a Strategic Bitcoin Reserve as per presidential directive [2]. - The U.S. Court for the Southern District of New York sold Bitcoin related to the Samourai wallet case, which Lummis highlighted as a misstep in asset management [2][5]. - The Marshals Service reportedly had permission to liquidate the Bitcoin, but they denied selling the assets in question, indicating a potential conflict with the executive order [6][7]. Group 2: Samourai Wallet Case - The Samourai wallet was a privacy-focused Bitcoin wallet that was shut down in 2024 following a federal investigation, leading to the conviction of its developers for operating without a license [3]. - Developers Keonne Rodriguez and William Lonergan Hill received prison sentences of five and four years, respectively, and paid a total of $6.4 million in forfeiture, likely in Bitcoin [4][5]. - The forfeited Bitcoin was reportedly sold by the Marshals Service, which may have violated the executive order directing the preservation of digital assets from forfeitures [5].