Not So Covert: The Secret Service Owns Crypto And Promotes NFTs, And – Why Not?

Christian Encila

2 years ago

3 mins read

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The United States Secret Service, a federal law enforcement agency tasked with protecting – mainly the president – the country’s top officials and financial infrastructure, has recently made headlines for its interest in cryptocurrency and blockchain technology.

During a recent Reddit ask-me-anything (AMA), representatives for the agency revealed that it not only owns crypto but also has its own NFT collection.

Moreover, the agency has praised blockchain technology’s potential to fight financial crime, indicating a growing awareness and adoption of these technologies in law enforcement.

Secret Service Praises Blockchain’s Transparency In Fighting Financial Crime

During the AMA session, the San Francisco Field Office of the United States Secret Service and the Bay Area Regional Enforcement Allied Computer Team (REACT) addressed various questions from the public. Although not all the queries were answered, the law enforcement agencies did respond to some of them.

Despite the skepticism of many regulators regarding cryptocurrency as a tool commonly exploited by scammers and fraudsters, the REACT task force has recognized the remarkable potential of blockchain technology for combatting financial crime, applauding its inherent transparency.

The AMA Reddit thread from the United States Secret Service. Source: Reddit.

This endorsement marks a significant turning point, as the task force sees blockchain as an extraordinary opportunity in the ongoing fight against fraudulent activities. By leveraging the public and transparent nature of blockchains, law enforcement can more easily track the flow of money and identify potential financial crimes.

They said:

“The beauty of the blockchain helps us trace funds, but attributing wallets to individuals is a different story… It’s only anonymous until it’s not.”

But even then, the US commander-in-chief’s bodyguards said that in every instance “we have applicable laws and we must follow judicial process when working to identify bad actors.”

Secret Service Admits Owning Crypto And NFTs

The AMA session not only covered various serious topics but also included some light-hearted moments.

During the session, a Reddit user asked if the Secret Service had any plans to create its own meme coin. The agency responded to the question by promoting its own NFT collection available on the OpenSea platform.

This exchange shows that the agencies were open to engaging with the public on a lighter note and willing to showcase their interest in blockchain technology by highlighting their NFT collection.

An inquisitive Redditor inquired about whether the Secret Service possessed any cryptocurrency. In response, the agency candidly stated that they were indeed holders of crypto, even going as far as describing themselves as “crypto enthusiasts” in subsequent replies.

The Secret Service acknowledged that owning cryptocurrency provided them with a deeper understanding of the intricate workings of the crypto world, emphasizing the importance of familiarity with these emerging technologies.

BTCUSD drops from the critical $27K level. Chart: TradingView.com

Another Reddit user sought to unravel the mystery surrounding Satoshi Nakamoto, the enigmatic creator of Bitcoin. They queried the agencies if they had any additional information or ongoing investigations focused on unmasking the face behind the pseudonym.

In a lighthearted but cryptic response, the Secret Service promptly replied:

“We may know Satoshi, but it is classified!”

We may never know if the Secret Service truly has any insider knowledge on the enigmatic Bitcoin creator, but it’s fun to imagine that they do.

-Featured image from SETH HERALD/AFP

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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