A crypto pockets linked to the US authorities simply transferred roughly 20,000 Bitcoin, valued at $1.9 million, to Coinbase, in keeping with knowledge tracked by Arkham Intelligence.
The pockets’s Bitcoin holdings are linked to the seizure of property from Silk Highway, a infamous darkish internet market that facilitated unlawful drug and weapon trades earlier than its shutdown in 2013. On the time of reporting, the US authorities nonetheless maintain round $18 billion price of Bitcoin, alongside different crypto property like ETH (roughly $217 million) and USDT (round $122 million).
The current transaction was executed in two elements, beginning with a take a look at switch of 0.001 BTC, valued at $97, to a Coinbase Prime deposit deal with, adopted by a bigger switch of 19,800 BTC, roughly $1.9 billion, to an middleman pockets earlier than reaching Coinbase.
These transfers comply with a earlier motion in late August when the federal government reportedly despatched 10,000 BTC, price roughly $600 million, to Coinbase from the identical pockets.
Bitcoin’s value dropped to $96,200 following the switch, in keeping with CoinGecko knowledge.
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