U.S. Government Transfers $2 Billion Worth of Seized Silk Road Bitcoin Coinbase

In a significant move, the U.S. Department of Justice transferred approximately $2 billion in Bitcoin, seized from the Silk Road marketplace, to a Coinbase wallet.

The U.S. Department of Justice initiated the transfer of around $2 billion worth of Bitcoin to a Coinbase wallet, believed to be part of an expected sale.
Blockchain data and analysts confirmed the transfer of 30,175 bitcoins, initially seized from the illegal Silk Road marketplace, to Coinbase.
A small test transaction preceded the main transfer, indicating careful preparation for moving the large sum.
The crypto community closely monitors such large transactions, which historically have impacted Bitcoin's market value.
This transfer follows the government's previous sale of seized Bitcoin in March 2023, generating $216 million.

U.S. Government Transfers $2 Billion Worth of Seized Silk Road BitcoinCoinbase