According to data from the on-chain analytics platform, the US government transferred 58,742 BTC worth approximately $3.96 million to the cryptocurrency exchange on July 23. Some of these funds consist of assets seized from Ryan Farace, who is linked to the Dark Web platform Silk Road.
The US Department of Justice had seized 2,933 BTC from Farace in recent years and announced plans to dispose of these assets. According to current data, the US government owns approximately 213,239 BTC. Since this sale accounts for less than 1% of Bitcoin's 24-hour trading volume, it is not expected to have a major impact on the market.
