- [Review] -

Omitted.

- [Today's Market Analysis] -

Liquor Trading Diary: Daily Analysis 7.29

① Intraday ultra-short-term - Resistance: 70000

Even if it doesn't exceed 70000, there is still pressure from 70800. So, this area is a good position for short-term small short positions. But still need to set a stop loss.

② Intraday ultra-short-term - Support: 68800

I plan to go long at 68800. However, if the price falls below 68200, the short-term trend may reverse. It's not too late to pay attention to the risk at that time.

Summary: 70000 has been reached, will the new high be far behind? But before the new high arrives, will there be another significant retracement?

- [Cryptocurrency News] -

Trump Won't Sell US BTC After Election, What About the Seized Assets?!

Donald Trump plans to make the United States the global capital of cryptocurrency. The former president made this promise at the Bitcoin 2024 conference in Nashville, Tennessee on July 27, and even more. However, some of the Republican candidate's remarks may have caused panic among cryptocurrency advocates.

While Trump's speech mainly focused on Bitcoin and the community's view of it as a force beneficial to the United States, he did list some specifics. His main commitment is that if he is re-elected, the United States will not abandon its existing Bitcoin reserves.

However, Casa co-founder and CTO Jameson Lopp stated, "There is a small problem with this plan, but no one is admitting it."

It is reported that as of April 2024, the US government holds 212,847 BTC, with a total value of about $14.4 billion as of July 28.

Some of these funds come from the Bitfinex cryptocurrency exchange. In 2022, the US government seized about 94,636 BTC from a hacker's wallet, who admitted to stealing 119,754 BTC from the exchange in 2016.

If these coins are removed from government holdings, the US Treasury will have about $8 billion worth of BTC.

Investigations into the Bitfinex hack seem to be ongoing in 2024, but it is currently unclear how the US Department of Justice intends to handle these funds.

There are not many legal precedents in terms of asset seizures, which raises numerous questions, and the answers to these questions may not come quickly.

First, federal laws regarding asset seizures usually do not prioritize restoring victims, especially when an investigation is ongoing.

For example, if these funds are related to assets allegedly involved in other criminal activities, the Department of Justice would violate its prosecutorial duties by returning some of the relevant funds before taking any subsequent action against other suspects.

In some cases, it may also be illegal for US agents to return all stolen funds to a single source distributor. A judge may order the US to return the stolen funds to affected users under the supervision of a neutral third-party custodian.

All of this is speculation, as investigations and subsequent legal actions are ongoing. But aside from legal issues, there are more things at play.

Second, Trump acknowledges that he intends to hold all of the government's Bitcoin. However, the president may only be indicating that he will not sell Bitcoin, converting assets into fiat currency for quick profit.

In general, there is no reason to believe that Trump intends to ignore any court rulings requiring the government to return funds.

Finally, Trump explicitly stated that the "policy" of his government is to retain all BTC currently owned by the United States. While this does mean that he will include Bitfinex assets, it also means that the government will maintain flexibility.

There is a difference between legislation or executive orders prohibiting the sale of government-held cryptocurrencies and policies targeting such sales.

However, the case of Silk Road founder Ross Ulbricht is much simpler. Ulbricht was convicted in 2015 on charges of drug trafficking, hacking, and money laundering. He was subsequently sentenced to "double life imprisonment" and 40 years in prison, and is currently serving his sentence.

In 2020, the US government seized 50,591 BTC allegedly stolen from Ulbricht and Silk Road in a previous hack. As of July 28, these assets accounted for about $3.4 billion of the US government's current holdings.

In his Bitcoin 2024 speech, Trump promised to reduce Ulbricht's sentence if re-elected.

Even with a reduced sentence, Ulbricht's conviction remains valid. He would essentially be released after serving his sentence, and funds marked as proceeds of crime would be turned over to the US government.

This is different from a pardon, as independent presidential candidate Robert F. Kennedy Jr. recently stated that if Ulbricht is elected, he will pardon Ulbricht on the first day.

A pardon would legally absolve Ulbricht of his crimes and technically provide a legitimate path to rehabilitation.

However, it is reported that Ulbricht signed an agreement in 2022, waiving his claim to these funds as part of repaying a $183 million restitution debt. This likely means that he no longer has a legitimate claim to the seized bitcoins in the future.

Official Account↓↓↓

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。