Translation of Title: US Government Shifts $600 Million Worth of Seized Silk Road Bitcoin with Intent to Store
Publication Time:2024-08-15 03:31:06
金色财经 reports that Arkham Intelligence's blockchain data reveals the US government recently moved 10,000 seized bitcoins related to the Silk Road to the institutional platform of Coinbase Prime, a major exchange giant. Analysts note that typically depositing assets at an exchange indicates a selling intent, yet in this scenario, the transfer is likely more for storage purposes. This is due to the US Department of Justice’s Federal Bureau of Prisons announcing a partnership with Coinbase Prime last month, aimed at “protecting and trading” large digital assets. According to court documents, the government last confirmed the sale of Silk Road assets in March 2023, at a price of $216 million for 9,861 tokens. The documents also mentioned plans to sell the remaining assets in four batches in that year, but no further sales contracts have been mentioned since. Thus, the transfer of bitcoins to Coinbase Prime may reflect a storage intention rather than a direct asset sale.
Bitcoin
Coinbase Prime
US government
SILK ROAD
storage