The US government has transferred nearly $2 billion worth of Bitcoin seized in connection with the dark web platform Silk Road to a new address and then to a platform. Blockchain data suggests that this transfer was in preparation for a sale of the assets, or that the sale may have already taken place. However, although such sales have led to sharp fluctuations in the Bitcoin price in the past, this time the market reaction was observed to be more limited.
More than 50,000 Bitcoins were seized in 2022 as part of the Silk Road operation and James Zhong pleaded guilty to system manipulation. While US courts consider that some of the seized assets can be sold, it is stated that the sales are waiting for the completion of legal processes. It is stated that the US government still owns crypto assets worth 18 billion dollars.
