LEO premium may hint at movement on hacked Bitfinex BTC tied to 30% of US Strategic Bitcoin Reserve, analyst says
The elevated LEO token premium suggests potential progress in resolving the legal status of Bitfinex hack BTC held by the U.S. government.Summary
K33 Head of Research Vetle Lunde suggests that the significant premium on Bitfinex's LEO token, which is tied to the exchange's commitment to use recovered 2016 hack Bitcoin for buybacks, indicates market anticipation of movement regarding the seized BTC. Approximately 94,636 BTC from the hack, representing about 30% of the U.S. Strategic Bitcoin Reserve established in 2025, remains frozen pending legal proceedings to determine distribution among victims and Bitfinex. If resolved, the return of this BTC could lead to a gradual market re-entry of about 75,000 BTC over 18 months. Lunde cautioned that the premium might also stem from LEO's illiquidity, but noted it is the highest since the 2022 seizure announcement. Separately, Lunde commented on broader market weakness, noting that while Bitcoin is down significantly, institutional investors holding BTC via ETFs are largely maintaining their positions despite recent record outflows.
(Source：The Block)