Analyst Indicates US Government May Return Seized Bitcoins to Bitfinex

A famous on-chain analyst predicts that the US government may eventually return up to 1 million BTC, worth $100 billion, to its original owners. This comes after former President Trump stated at a recent Bitcoin conference in Nashville that his government would hold onto all the Bitcoin owned by the US government. However, according to renowned cryptocurrency analyst Willy Wu, Trump’s promise is unlikely to be fulfilled. He points out that a significant portion of the approximately 96,000 BTC held by the US government is related to the 2016 Bitfinex hack. In light of the collapse of the cryptocurrency market causing millions of dollars in losses for traders, it is expected that the stolen Bitcoin recovered by the US Department of Justice will be returned to the companies after legal proceedings. Wu suggests that Bitfinex and its subsidiary, Tether, can take legal action to recover these assets. He also notes that such actions may proceed cautiously, reflecting the company’s tendency to stay out of the spotlight.