The Wolf Of All Streets

Uncertainty around government crypto and $XRP holdings is once again in focus.

Scott Melker, also known as The Wolf Of All Streets, argues that even basic details about U.S. exposure to assets like Bitcoin and $XRP remain unknown.

Speaking in a recent podcast alongside Mark Yusko, Melker highlighted that despite growing speculation about a U.S. digital asset stockpile, there is still no clear data on how much $XRP, or any crypto, the government actually holds.

Key Points

No Transparency on $XRP Holdings

Melker pointed out that the lack of transparency goes beyond $XRP alone. According to him, there is no confirmed audit detailing government reserves across major cryptocurrencies, including Bitcoin, Ethereum, Cardano, and Solana.

He noted that while discussions about a “strategic stockpile” have intensified, the absence of verified figures leaves investors guessing. “We don’t even know how much $XRP the United States government holds,” Melker remarked.

$XRP Escrow Speculation Adds to Uncertainty

The debate comes as speculation within the $XRP community continues over whether the U.S. government could eventually acquire tokens from Ripple’s massive escrow holdings.

Some analysts have suggested that legal developments in the Ripple case could position the government as a potential “buyer” of up to 37 billion $XRP held in escrow.

Others have floated the idea that Ripple’s $125 million penalty could be paid in $XRP, potentially marking the government’s first direct exposure to the asset. However, these theories remain hypothetical.

There is currently no official confirmation that the U.S. government holds $XRP, nor any indication that escrowed tokens have been pre-allocated or earmarked for federal use.

Notably, Ripple has already paid the $125 million fine, and no document suggests it was paid in $XRP. Even if it were, it would most likely have been converted to fiat.

Skepticism Over Political Narratives

Meanwhile, Yusko expressed skepticism during the discussion about political involvement in crypto, arguing that expectations of government support are often misplaced.

He suggested that narratives about $XRP’s inclusion in a national stockpile may be overstated, noting that, in many cases, government crypto holdings come from seized assets rather than deliberate purchases.

U.S. Government’s Known Bitcoin and Crypto Holdings

Meanwhile, the U.S. government directly holds other crypto assets such as Bitcoin, Ethereum, and $USDT, based on on-chain data. According to tracking platform Arkham, the U.S. government holds 328,372 $BTC worth over $22.97 billion, as well as 750.72 WBTC valued at more than $52.38 million.

It also holds 62,742 $ETH tokens worth over $132.74 million and $USDT valued at more than $126 million. The U.S. government’s tracked portfolio also includes assets such as BNB, WBNB, AUSDC, USDC, DAI, WETH, UNI, and LINK, all valued in the millions.

Collectively, the government’s crypto holdings are worth over $23.36 billion, with no $XRP included in the lineup.

Meanwhile, there are suggestions that some of these holdings may still be subject to legal claims and are not yet under permanent forfeiture. Commentators believe that a full audit would clarify the government’s actual crypto holdings.