A crypto wallet linked to the US government just transferred approximately 20,000 Bitcoin, valued at $1.9 million, to Coinbase, according to data tracked by Arkham Intelligence. The wallet’s Bitcoin holdings are linked to the seizure of assets from Silk Road, a notorious dark web marketplace that facilitated illegal drug and weapon trades before its shutdown in 2013.
At the time of reporting, the US authorities still hold around $18 billion worth of Bitcoin, alongside other crypto assets like ETH (approximately $217 million) and USDT (around $122 million). The recent transaction was executed in two parts, starting with a test transfer of 0.001 BTC, valued at $97, to a Coinbase Prime deposit address, followed by a larger transfer of 19,800 BTC, approximately $1.9 billion, to an intermediary wallet before reaching Coinbase.
These transfers follow a previous movement in late August when the government reportedly sent 10,000 BTC, worth approximately $600 million, to Coinbase from the same wallet. Bitcoin’s price dropped to $96,200 following the transfer, according to CoinGecko data.
The Federal Reserve has unveiled a new proposed rule that would require certain payment stablecoin issuers to…
Shares of HIVE Digital Technologies jumped more than 10% after the company announced a major $220 million, three-year…
Illinois has officially become the first U.S. state to impose a transaction-based tax on cryptocy activity…
The cryptocy market was hit by a sharp wave of volatility after the Federal Open Market…
Algorand is accelerating its push toward becoming one of the world's first fully quantum-resistant blockchains, announcing…
The long-awaited Digital Asset Market CLARITY Act is moving closer to becoming law as momentum continues building…