Crypto Daily – According to blockchain firm Arkham Intelligence, The United States government has moved $1.9 billion worth of seized (BTC) to Coinbase (NASDAQ🙂 Prime.
The move comes amid growing conversations about establishing a strategic BTC reserve in the US under the incoming Trump administration.
US Shifts Seized BTC
The transaction involves almost 19,800 BTC seized in 2021 during an investigation into James Zhong’s Silk Road-related activities. Zhong is convicted of wire fraud after authorities discovered hidden BTC. The Department of Justice had previously seized over 50,000 BTC from Zhong, with the government retaining almost $18 billion worth of BTC. While the reason for the transfer is unknown, speculations are rife that the government could sell off the BTC or repurpose the stolen funds.
“JUST IN: US Government moves $1.92 billion worth of #Bitcoin to a new address.”
The transferred funds were sent to two wallets,…
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