In March, an executive order mandated the creation of two stockpiles of crypto assets, alongside traditional reserves, with an estimated value of over $21 billion, primarily sourced from cryptocurrency seized in federal proceedings. According to Chainalysis, the U.S. government’s top 20 crypto holdings include approximately $20.4 billion in Bitcoin and $493 million in other digital assets, such as Ethereum and various stablecoins, raising concerns among crypto enthusiasts about the potential conflict with the decentralized ethos of the cryptocurrency movement. Critics, including Ethereum co-founder Vitalik Buterin and NYU professor Austin Campbell, argue that the government’s involvement contradicts the community’s original spirit of freedom from sovereign control.
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