Exactly 35 days ago, President Donald Trump signed an executive order requiring all federal government agencies to audit their crypto holdings within 30 days. That expired five days ago, but the audit is nowhere online.
Trump’s appointed “Crypto Czar,” David Sacks, repeatedly promised that he’d fulfill the directives of the order. On a media tour after the announcement, he lamented the lack of information about how much crypto the government actually owned and swore that this audit would finally bring clarity and accountability to the government’s crypto finances.
He was supposed to deliver a full, unabridged report by last week to Treasury Secretary Scott Bessent. It should have been, according to Trump’s presidential imperative, “A full accounting of all government digital assets in such agency’s possession, including any information regarding the custodial accounts in which such government digital assets are currently held.”
Nevertheless, no one, including David Sacks, has released this full accounting.
We should have an audit of US federal crypto by now
The US government probably holds over $16 billion worth of crypto. Most of it is bitcoin (BTC) and is tied up in litigation between Bitfinex and convicted hackers Ilya Lichtenstein and Heather Morgan, a.k.a. Razzlekhan.
Read more: News that never happened: Governments buying bitcoin reserves
Technically, it’s possible that the audit is somehow complete and has been delivered privately to Secretary Bessent. The executive order didn’t precisely require the findings to become public.
Sacks hasn’t made any statements about the audit — nor has Trump via Truth Social or X.
With media silence on this highly anticipated audit, members of the crypto community can only keep guessing about how much crypto the US government possesses.
