A US government-controlled wallet with 30,174 BTC initiated a transfer of ~2,000 BTC to a Coinbase Prime platform address. Experts allowed the sale of assets.
The US Government sold 2,000 Bitcoin today.
These Bitcoins had been seized from James Zhong (stolen from Silk Road).These Bitcoins went to Coinbase.
The US Government still holds 209K Bitcoin.
You can monitor the US Gov's Bitcoin in this dashboard: https://t.co/ubPIErv9hg pic.twitter.com/o02WHM8Qb7
— Julio Moreno (@jjcmoreno) April 2, 2024
Initially, a test transaction of 0.001 BTC was carried out. Then the entire amount from the wallet was moved to a new storage address, from where 2,000 BTC was transferred to the exchange.
This is believed to be part of the assets seized from James June. In April 2023, he was sentenced to a year in prison for stealing 50,000 BTC from the Silk Road darknet marketplace.
In December, an appeals court formalized the confiscation of 69,370 BTC belonging to an illegal Internet platform that was shut down more than 10 years ago. The funds were seized in November 2020.
Silk Road founder Ross Ulbricht was convicted in 2015 of operating a darknet market and other crimes, including drug trafficking and conspiracy to launder funds. He was sentenced to two life sentences.
According to CryptoQuant, the United States authorities continue to own 208,899 BTC. At the time of writing, the value of the coins is ~$13.8 billion.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
