US govt has huge secret crypto stockpile – By Russia Today Newsroom (Russia Today) / December 21, 2021
The US government has been seizing and then auctioning off cryptocurrencies for years. The process is gaining steam, so it has enlisted the help of the private sector to manage the storage and sales of its hoard of tokens.
According to Jarod Koopman, the director of the Internal Revenue Service’s cybercrime unit, the government has acquired record amounts of crypto in recent years.
“In fiscal year 2019, we had about $700,000 worth of crypto seizures. In 2020, it was up to $137 million. And so far in 2021 (as of August), we’re at $1.2 billion,” Koopman told CNBC earlier.
Experts say with the rapid growth of cybercrimes the US government’s crypto coffers are expected to expand even further.
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