US Government Preparing to Sell 30,000 Silk Road Bitcoin, On-Chain Data Shows

Today, the US authorities sent a transaction that appears to bespeak it whitethorn beryllium connected the verge of liquidating the remaining Bitcoin it confiscated from the online marketplace Silk Road.

According to on-chain data, a 0.001 BTC trial transaction, portion of a larger stash of astir 30,174 BTC worthy $2 billion linked to the infamous Silk Road marketplace, were moved by the US government.

Coinbase, the largest cryptocurrency exchanges successful the United States, received the transaction from these Silk Road-related funds. Arkham Intelligence archetypal identified the origins of wherever the BTC was coming from, and the coins destination of Coinbase. It appears the intent of this transaction is to merchantability the coins, arsenic it has antecedently done successful the past.

Last March, the U.S. authorities sold disconnected 10,000 bitcoin related to Silk Road, selling conscionable implicit 9,861 BTC worthy $216 million, according to a court filing.

As successful this case, this lawsuit was proceeded by 3 on-chain transactions, which were sent a fewer weeks anterior to the sale's disclosure successful a tribunal filing.

The U.S. Marshals Service is 1 of the largest Bitcoin sellers to date. According to information from researcher Jameson Lopp, the US Marshals person helped the US authorities merchantability 195,000 BTC.

Despite attempts by U.S. lawmakers to person the bureau clasp these funds arsenic a strategical asset, it has continued to merchantability the funds successful enactment with its mandate, the relation of the U.S. Marshalls Service being to merchantability disconnected assets confiscated successful transgression investigations.