• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Price Drop May Be Linked to US Marshals Service Actions

user avatar

by Giorgi Kostiuk

2 years ago

  1. US Marshals Service Bitcoin Sale
  2. Coinbase Agreement
  3. Awaiting Official Confirmation


    4. Cryptocurrency-focused lawyer Scott Johnson has suggested that the recent drop in Bitcoin prices may be connected to the actions of the US Marshals Service (USMS).

    US Marshals Service Bitcoin Sale

    Johnson explained that the US Marshals Service is almost certainly selling Silk Road Bitcoins based on their recent activities.

    Coinbase Agreement

    USMS transferred Bitcoin to a custody address under a service agreement with Coinbase in June. This agreement states that USMS assets must remain completely separate. However, Johnson noted that when these transfers are made to a mixed exchange address like CB Prime, it indicates that Bitcoin has either already been sold or is in the process of being sold.

    Awaiting Official Confirmation

    Johnson expects official confirmation of these transactions to appear in the Department of Justice's FY2024 Asset Expenditure Program report, scheduled for release in January. He also hinted that these sales may have intensified following a recent speech by former President Donald Trump, and noted that such actions were foreseeable based on the DOJ Office of Inspector General audit report, the USMS cryptocurrency services agreement RFP, and various court rulings.

    As the community awaits official confirmation, analysts and crypto enthusiasts are closely monitoring the situation and its potential impact on the Bitcoin market.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Stablecoin Growth on Solana Enhances DeFi and Payment Applications

chest

The growth of stablecoins on Solana is expected to enhance DeFi lending markets and payment applications.

user avatarMohamed Farouk

Importance of Validator Voting in XRPL Governance

chest

Validator voting is crucial for determining the activation of proposed amendments in the XRP Ledger, impacting long-term network development.

user avatarTenzin Dorje

XRP Ledger Approaches Key Validator Voting Window

chest

The XRP Ledger is approaching a critical deadline for validator voting on proposed protocol amendments that could influence future network features.

user avatarAisha Farooq

Solana's Stablecoin Market Cap Hits $15 Billion

chest

Solana's stablecoin market capitalization has surpassed $15 billion, marking a significant milestone in the network's liquidity growth.

user avatarBayarjavkhlan Ganbaatar

Anchorage Introduces Native TRX Staking for Institutions

chest

Anchorage Digital has launched a new service for institutional clients to stake TRX directly from their custody accounts, allowing them to earn rewards from the TRON network without transferring assets out of a regulated environment.

user avatarElias Mukuru

Solana's Alternative Stablecoin Supply Hits 481 Billion

chest

Solana's alternative stablecoin supply has reached 481 billion, indicating a diversification of liquidity on the network.

user avatarDiego Alvarez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.