It’s been 35 days since President Donald Trump signed an executive order demanding all federal agencies to check their crypto holdings. The deadline for that audit – 30 days – passed five days ago. Yet, despite the tight timeframe, the audit report is still nowhere to be seen online.

David Sacks, Trump’s hand-picked “Crypto Czar,” had been vocal about fulfilling the order’s requirements. In a media blitz following the announcement, Sacks emphasized how little information there was about the government’s crypto stash. He pledged that this audit would finally bring much-needed transparency and accountability to the government’s digital finances.

As per Trump’s presidential directive, Sacks was expected to deliver a comprehensive and complete report to Treasury Secretary Scott Bessent by last week. This report, according to the presidential order, should have included “A full accounting of all government digital assets in such agency’s possession, including any information regarding the custodial accounts in which such government digital assets are currently held.”

However, the full accounting hasn’t been released by anyone, including David Sacks himself.

Where’s the US federal crypto audit we were promised?

The US government is estimated to hold over $16 billion in crypto, primarily bitcoin (BTC). A significant portion is tied up in the legal proceedings involving Bitfinex and the convicted hackers Ilya Lichtenstein and Heather Morgan, infamously known as Razzlekhan.