A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›
Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.
If you don’t have enough, buy ACS on the following exchanges:
Access Protocol is a web3 monetization paywall. When users stake ACS, they can access paywalled content. Learn more ›
Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.
The global crypto market cap is $1.55 trillion with a 24-hour volume of $47.42 billion. The price of Bitcoin is $39,898.43 and BTC market dominance is 50.4%. The price of Ethereum is $2,216.99 and ETH market dominance is 17.2%. The best performing cryptoasset sector is Art, which gained 6%.
The U.S. government previously seized the funds from a Xanax seller and a former U.S. agent.
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The U.S. government has filed notice to sell $130 million of Bitcoin (BTC) previously seized connection with the Silk Road darknet marketplace.
The government said that it says that it intends to dispose of (ie. sell) two lots of Bitcoin in any manner that the U.S. Attorney general directs.
That will likely see the government sell both lots, including 2874.9 BTC valued at $129 million and 58.7 BTC valued at $3.3 million.
The text of the notice also allows for other individuals (except for defendants) to claim interest in the forfeited property through an ancillary petition within 60 days of Jan. 10. It also allows for petitions for remission or mitigation, which would pardon some or all of the seized Bitcoin from the forfeiture.
The Bitcoin previously belonged two individuals. The first lot was seized from Ryan Farace, a Maryland man who along with his father was convicted of a money laundering conspiracy involving darknet market sales of Xanax, and from Sean Bridges, a former U.S. Secret Service Special Agent involved in Silk Road investigations who stole Bitcoin that the U.S. government had previously obtained. The second, smaller lot was seized solely from Bridges.
The two lots were seized on Feb. 10, 2021 in Memphis, Tennessee, and on May 11, 2021, in Arlington, Virginia, respectively. A District Court in Maryland previously condemned and forfeited the Bitcoin to the U.S. government on Jan. 8, 2024.
Those funds make up just a small portion of Silk Road-related seizures that the U.S. government has made to date. In addition to early seizures from Silk Road creator Ross Ulbricht circa 2013, the government seized $3.6 billion of Bitcoin from James Zhong in 2022 as well as $1 billion of Bitcoin circa 2020.
As of December 2023, the U.S. government held about $9 billion worth of Bitcoin, though this did not exclusively originate from Silk Road seizures.
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.
CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2024 CryptoSlate. All rights reserved. Disclaimers | Terms | Privacy
Please add “[email protected]“ to your email whitelist.
Stay connected via