According to blockchain analysis company Arkham Intelligence on the 2nd (local time), approximately 19,800 transactions related to the U.S. government were reported on the same day.
The report said that the cryptocurrency was being used to send Bitcoin to a Coinbase Prime deposit address, which is valued at approximately $1.9 billion.
This Bitcoin is a cryptocurrency related to the Silk Road marketplace in 2021
The items were seized during an investigation into the robber, James Zhong, who was convicted of wire fraud linked to the Silk Road.
In 2022, the Department of Justice announced that it had seized more than 50,000 BTC from James John, including one stored on a single-board computer inside a popcorn tin covered with a blanket.
The government later transferred the seized bitcoins to multiple wallets, but it was discovered that the company still holds about $18 billion worth of bitcoin.
It is unclear whether the coin movement is part of a trade or divestiture strategy by the authorities. Some US politicians, including Senator Cynthia Lummis and President-elect Donald Trump, have spoken out about Bitcoin in the US.
He has proposed legislation to create a strategic reserve of coins.
2024/12/04 09:42 KST
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