TrustlessThe US government recently transferred approximately 3,940 Bitcoin (BTC), valued at $241 million, to Coinbase from a wallet associated with the Silk Road seizure.
According to Arkham Intelligence, this wallet holds about $13.3 billion worth of Bitcoin.
Earlier in April, the government allegedly transferred 30,175 BTC, worth approximately $2 billion, from the same wallet to Coinbase:
- The transaction was split into three transfers, starting with a small test transfer of 0.001 BTC ($65) to a Coinbase Prime deposit address, followed by the main transfer of 1,999 BTC (around $130 million) to Coinbase.
- The remaining 28,176 BTC was sent to another government-controlled wallet, likely as part of a planned sale.
The transactions are part of the government's management of seized assets from the Silk Road, an online marketplace shut down in 2013 for illegal activities.
Bitcoin’s bearish momentum, which has been building since earlier this week, could be exacerbated by recent large-scale transfers - also fueled by the incoming Mt.Gox refunds and the 900 BTC sell-off from Germany to Coinbase and Kraken.
Please monitor your positions carefully!
https://cryptobriefing.com/us-government-bitcoin-coinbase/ Show Less
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