Willy Woo Forecasts That $6 Billion of US Government’s $12 Billion Crypto Holdings Will Be Returned to Bitfinex

Analyst Willy Woo predicts that the US government will eventually return nearly 100,000 Bitcoin (BTC) to their rightful owner, Bitfinex. 

Woo argues that former President Trump’s plan to retain all Bitcoin acquired by the government is unrealistic, as about half of the seized BTC—specifically, 96,000 BTC from the 2016 Bitfinex hack—belongs to the crypto exchange. Woo expects Bitfinex to use its financial resources to seek legal action for the return of these funds. 

Despite the US government holding 213,246 BTC and Tether possessing 75,354 BTC, Woo notes that Bitfinex, known for its discretion, will likely pursue recovery efforts quietly.

Clever Robot News Desk 6^th August 2024