Donald Trump

Silk Road

Arkham

President Donald Trump

<a href="https://bitcoinworld.co.in/us-govt-moved-2-billion-of-silk-road-bitcoin-to-anonymous-address-arkham/" title="US Govt. Moved $2 Billion Of Silk Road Bitcoin To Anonymous Address: Arkham" rel="noopener noreferrer nofollow"></a>
The US government transferred 29,800 Bitcoin, valued at about $2 billion, to an anonymous address, <a href="https://platform.arkhamintelligence.com/explorer/entity/usg" rel="noopener noreferrer nofollow">according</a> to Arkham Intelligence, a blockchain analytics firm.
The seized Bitcoin is associated with the Silk Road, a dark web marketplace that was infamous for facilitating illegal activities ranging from drug trafficking to money laundering.
Arkham, is a data firm tracking cryptocurrency movements and flagged the transfer raising questions and speculation regarding the intentions of the U.S. government in handling the seized Bitcoin.
On-chain sleuth Lookonchain <a href="https://twitter.com/lookonchain/status/1817963064215687650" rel="noopener noreferrer nofollow">notes</a> the U.S. government currently holds 179,155 Bitcoin valued at $12.14 billion.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The <a href="https://twitter.com/hashtag/US?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#US</a> Government transferred 29,800 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($2.02B) to a new wallet 20 minutes ago.
 The <a href="https://twitter.com/hashtag/US?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#US</a> Government currently holds 179,155 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($12.14B).<a href="https://t.co/erV5T8x6eU" rel="noopener noreferrer nofollow">https://t.co/erV5T8x6eU</a><a href="https://t.co/s8hA0nLaxB" rel="noopener noreferrer nofollow">https://t.co/s8hA0nLaxB</a> <a href="https://t.co/aKYu8t7Ful" rel="noopener noreferrer nofollow">pic.twitter.com/aKYu8t7Ful</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1817963064215687650?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 29, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h3 id="span-style-font-weight-400-us-govt-seized-174k-btc-from-silk-road-marketplace-span">US Govt. Seized 174K BTC From Silk Road Marketplace</h3>
The U.S. government seized a staggering 174,000 BTC from the Silk Road marketplace. This marks one of the largest seizures of crypto in history.
Silk Road, operated by computer engineer Ross Ulbricht, and was shut down by federal authorities in 2013. Ulbricht was convicted and sentenced to life in prison without parole.
With the transfer of the Bitcoin to an anonymous address signifies a strategic move by the U.S. government in managing its crypto holdings.
There have been similar instances where the government has liquidated seized assets. Historically, the U.S. Marshals Service has conducted auctions of seized Bitcoin, providing opportunities for investors to purchase the cryptocurrency in bulk.
Bitcoin is trading at $66,600 on Tuesday at press time, down 3.8%. The movement of such a large amount of Bitcoin can influence market dynamics, potentially impacting the cryptocurrency’s price and liquidity.
Market participants are keenly observing any signs of further government action, which could include additional transfers or even sales.
<h3 id="span-style-font-weight-400-us-govt-sends-seized-3-940-btc-to-coinbase-prime-wallet-span">US Govt. Sends Seized 3,940 BTC To Coinbase Prime Wallet</h3>
In June, the U.S. government seized 3,940 Bitcoins to a Coinbase prime wallet, according to Arkham Intelligence.
The data revealed that the Bitcoins were assets seized from Banmeet Singh, a convicted drug trafficker, who pleaded guilty of money laundering, early this year. The Bitcoins transferred are worth $241 million at press time.
<h3 id="span-style-font-weight-400-donald-trump-promises-to-pardon-ross-ulbricht-if-elected-span">Donald Trump Promises to Pardon Ross Ulbricht if Elected</h3>
Former US President Donald Trump has vowed to commute Silk Road creator Ross Ulbricht’s sentence if he is re-elected into office.&nbsp;
At the recent Bitcoin Conference in Nashville, Trump announced that he will pardon Ross on his first day in office. Ross has been in jail for the last 11 years.

US Govt. Moved $2 Billion Of Silk Road Bitcoin To Anonymous Address: Arkham

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