TLDR
- A White House adviser said the United States will announce a Bitcoin reserve update within the next few weeks.
- The administration created the Strategic Bitcoin Reserve through an executive order signed in March 2025.
- Officials fund the Bitcoin reserve with BTC forfeited through criminal and civil asset cases.
- The update will outline progress on custody systems and future management plans.
- Authorities linked a recent crypto exploit to assets held by the US Marshals Service.
The White House plans to release new details on the Strategic Bitcoin Reserve within weeks. A senior adviser confirmed the timeline during a public event in Miami. He linked the update to custody reforms after a recent crypto exploit.
Bitcoin Reserve Framework Nears Public Update
White House crypto adviser Patrick Witt outlined the timeline at Consensus 2026 in Miami. He said officials will announce progress on the Bitcoin reserve within weeks. He added that agencies have advanced work outside the public view.
Witt stated, “We’ll be making an announcement in the next few weeks.” He explained that the update will detail progress and next steps. He also said the administration continues to refine custody standards.
President Donald Trump signed an executive order in March 2025 to create the reserve. The order established the Strategic Bitcoin Reserve and a separate Digital Asset Stockpile. The Treasury capitalizes the bitcoin reserve with forfeited BTC from criminal and civil cases.
The administration places non-bitcoin assets into a separate stockpile framework. Officials manage those holdings under different legal guidance. However, the executive order directs agencies to safeguard all digital assets.
Witt said custody rules require specialized systems for digital assets. He explained that legacy asset procedures do not fit blockchain-based holdings. Therefore, agencies reviewed technical and legal controls over several months.
He also referenced earlier remarks at Bitcoin 2026 in Las Vegas. During that event, he said the executive branch could take a “big step forward.” He added that Congress must pass legislation to secure the framework permanently.
Security Incident Prompts Custody Focus
Witt connected the coming update to an exploit involving U.S. Marshals Service-held crypto. He said the administration began reserve planning before the incident. However, he said the event reinforced the need for tighter safeguards.
He stated, “Custody is unique for digital assets.” He added that agencies must properly secure government-controlled wallets. He said the president instructed departments to take these holdings seriously.
The exploit involved John Daghita, known online as “John” or “Lick.” Blockchain investigator ZachXBT linked the persona to government-connected wallets. Authorities later arrested Daghita in Saint Martin.
TRM Labs reported that the French Gendarmerie and the FBI led the joint operation. Investigators alleged Daghita stole cryptocurrency from U.S. Marshals-linked wallets. TRM traced about $24.9 million to a government-controlled address.
ZachXBT alleged that the theft exceeded $46 million in seized crypto assets. He said Daghita abused access at CMDSS, his father’s company. CMDSS held a contract with the U.S. Marshals Service.
TRM also linked part of the funds to assets seized after the 2016 Bitfinex hack. Investigators traced movement from government wallets tied to that case. Authorities continue to pursue related proceedings as of this report.
