CandleFocus Silk Road Bitcoin Worth Nearly $2B Moved to Coinbase Prime
2024-12-02
Author: Content Editor
Around $2 billion worth of bitcoin that were seized by the U.S. government in relation to the Silk Road website have been transferred to the cryptocurrency exchange Coinbase Prime. The transfer suggests that the government is preparing to sell or has already sold the assets. This move caused a slight dip in bitcoin's price, but the impact has been relatively muted compared to previous government sales. The U.S. government still holds approximately $18 billion worth of seized crypto assets. In 2022, the government seized over 50,000 BTC and arrested James Zhong for allegedly manipulating the Silk Road transaction system. The government previously sold a portion of the seized Silk Road assets in March 2023.
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