White House advisor: Latest news on the US Bitcoin reserve will be released "in the coming weeks".

CoinFeed reported on May 7th, citing CoinDesk, that Patrick Witt, Executive Director of the White House Digital Asset Advisory Council, stated at the Consensus conference that more information regarding the U.S. strategic Bitcoin reserve will be released "in the coming weeks." He cited the recent attack on digital assets held by the U.S. Marshals Service as evidence that federal crypto assets need to be centrally and properly custodied. Witt declined to disclose the specific size of the government's Bitcoin holdings, stating that the primary task is to "get our own backyard sorted out," including inventorying and auditing the crypto assets held by various agencies. Witt revealed that after President Trump established the reserve through executive order, the White House halted the previous administration's "fire sale" liquidation. He pointed out that the reserve still needs to be codified through legislation, with Senator Lummis's BITCOIN Act and Representative Begich's corresponding bill being important foundations.