K33: Bitfinex Platform Token LEO Trading at a Premium, Market Anticipates Progress in Seized Bitcoin Legal Proceedings

Odaily News According to Vetle Lunde, Head of Research at K33, the current valuation of Bitfinex's platform token LEO Token is significantly elevated, potentially reflecting market bets on progress in the legal proceedings concerning the bitcoins seized in the 2016 hack. Lunde pointed out that the U.S. government established a "Strategic Bitcoin Reserve" in 2025 to consolidate bitcoins seized and forfeited in law enforcement actions. It is currently estimated to hold approximately 328,372 BTC, of which about 94,636 BTC are related to the 2016 Bitfinex hack, accounting for roughly 30% of the total reserve. However, these assets remain under legal proceedings and may be returned in-kind to victims in the future, rather than being retained as sovereign assets. It is reported that the court previously hinted at the possibility of returning the assets "in the original cryptocurrency" to victims, but the assets remain frozen until a clear distribution plan is finalized through the ancillary forfeiture proceedings. (The Block)