U.S. DOJ Cleared to Sell 69,370 BTC Worth $6.5 Billion Seized from Silk Road

Jan 9, 2025, 02:18 AM

The U.S. Department of Justice (DOJ) has been authorized by a federal judge to sell 69,370 Bitcoins worth $6.5 billion, which were seized from the Silk Road marketplace. The sale is set to occur less than two weeks before a new administration takes office. The substantial liquidation has raised concerns about potential impacts on the cryptocurrency market, including liquidity shifts, price volatility, and triggering of mass liquidations. The decision comes after previous indications that the DOJ would not sell the seized assets.