Vetle Lunde, Head of Research at K33, stated that the current valuation of Bitfinex's platform token, LEO Token, is significantly high, potentially reflecting market bets on progress in the legal proceedings surrounding the seizure of Bitcoin from the 2016 hack. Lunde pointed out that the US government plans to establish a "Strategic Bitcoin Reserve" in 2025 to consolidate Bitcoin seized and confiscated during law enforcement operations. Currently, it is estimated to hold approximately 328,372 BTC, of which approximately 94,636 BTC are related to the 2016 Bitfinex hack, representing about 30% of the total reserve. However, this reserve is still under legal proceedings and may be returned to victims in kind, rather than being retained as sovereign assets. The court has reportedly hinted at a possible "original currency return" of the assets to victims, but the assets remain frozen until a clear distribution plan is established within the attached forfeiture proceedings. (The Block)