Tuesday, May 28, 2024

US authorities plans to promote 41,490 BTC linked to Silk Highway


  • The US authorities offered 9,861 bitcoin on 14 March, netting over $215 million.
  • 41,490 BTC stay from over 51,000 seized in November and can be offered in 4 batches this 12 months.
  • Court docket paperwork present that bitcoin is linked to the darknet market Silk Highway.

The US authorities, which says it lately offered 9,861 bitcoin (BTC), is reportedly seeking to liquidate one other 41,500 BTC earlier than the top of the 12 months.

Based on paperwork filed in court docket, the sale is for Bitcoin seized from entities linked to the notorious darknet market Silk Highway. The sale will happen in 4 batches this 12 months.

US authorities offered over $215 million value of BTC

Court docket paperwork present that the US authorities netted over $215 million when it offered 9,861.17 BTC out of the 51,351 bitcoin seized final November. 

The liquidation occurred on 14 March, the court docket submitting signifies, with this explicit tranche of BTC forfeited by James Zhong following his arrest and arraignment over wire fraud associated to Silk Highway.

A complete of 41,490 BTC stay from what was seized from Zhong, which the US authorities now plans to promote in 4 tranches. Justin Solar, the founding father of Tron (TRX), says the US authorities ought to promote the BTC to him at a ten% low cost by an OTC deal.

US authorities has introduced its intention to promote a further 41,500 #BTC this 12 months. To attenuate the potential affect available on the market, I want to supply to buy these BTC at a ten% low cost for an OTC deal.

— H.E. Justin Solar 孙宇晨 (@justinsuntron) March 31, 2023


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