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#Crypto Chen Zhi, head of Cambodia’s Prince Group, had more than SGD 150 million in assets frozen in Singapore on October 30 amid allegations of involvement in a global telecom fraud operation. Authorities seized real estate, bank accounts, cash, a yacht, and several vehicles. The U.S. Department of Justice had earlier confiscated roughly $15 billion in Bitcoin associated with him, and together with UK authorities, has identified him as a central figure in the fraud case.

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Crypto Finance Minister Bessent on the strategic BTC reserve: We are not buying new BTC; the government will only use confiscated cryptocurrencies from criminal and civil cases. BTC sales are prohibited no liquidation of the reserve, the coins are stored as a strategic asset. The Further purchases are possible, but only within “budget-neutral” mechanisms with no spending from the state budget.