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US Marshals Reportedly Selling 10,000 Silk Road Bitcoin Worth $600M

Aug 16, 2024, 08:08 PM

The U.S. Marshals Service (USMS) is reportedly selling Bitcoin acquired from the Silk Road case. According to multiple sources, including Attorney Scott Johnsson, the USMS has been transferring Bitcoin to Coinbase Prime, a move that aligns with a service agreement established in June. The transactions are believed to involve 10,000 Bitcoin, valued at approximately $600 million. This sale is part of the U.S. government's broader strategy to liquidate seized digital assets. The timing of the sale, occurring a few months before the U.S. elections, has raised questions and speculation about its potential impact on market stability.