U.S. Treasury Dispatches $2 Billion in Bitcoin to Coinbase from Silk Road Seizure

U.S. Treasury Dispatches $2 Billion in Bitcoin to Coinbase from Silk Road Seizure



In a notable move within the cryptocurrency sector, the United States government executed a significant transaction, transferring a cache of Bitcoins previously confiscated from the infamous darknet marketplace, Silk Road, to the prominent cryptocurrency exchange, Coinbase. This transaction, confirmed by blockchain analytics platform Blockchair on April 2, involved the movement of 30,175 Bitcoins (BTC) to Coinbase, representing an approximate value of $2 billion, given the prevailing Bitcoin price of around $65,000.



Blockchain investigator ZachXBT highlighted an additional, albeit minuscule, transaction where 0.001 BTC, equivalent to $69, was moved to a Coinbase deposit address, presumably as a preliminary test. This follows the government's history of disposing of seized cryptocurrencies; notably, in March 2023, it liquidated 9,861


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#Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations, #UnitedStates

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