US Strategic Bitcoin Reserve could lose 30% in one ruling as Bitfinex battle intensifies

The US Strategic Bitcoin Reserve, estimated to hold around 328,372 BTC, faces a potential mechanical reduction of nearly 30% (about 94,643 BTC) if a court orders the return of assets linked to the 2016 Bitfinex hack as restitution. President Trump's executive order creating the reserve explicitly allows for dispositions pursuant to a court order, particularly for assets returned to crime victims. This restitution claim is the central battleground, as Bitfinex and some customers contest ownership of the recovered coins. If the BTC is returned in-kind to Bitfinex, the company intends to use 80% of the funds to repurchase and burn its LEO token, creating a significant, though time-sliced, market event. While the headline loss of 30% might shock markets, the actual flow of coins is unlikely to be a massive supply shock, as the transfer is restitution, not a sovereign sale. The legal distinction matters because it clarifies that the reserve framework was designed to coexist with the rule of law, even if the headline number shrinks.

(Source：CryptoSlate)