Bitcoin Price Drop May Be Linked to US Marshals Service Actions

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  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.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Meta Platforms' Shares Surge Following AI Assistant Launch

chest

Meta Platforms' shares rose over 6% after the launch of its AI assistant, Muse, which helps users manage tasks and goals.

user avatarTomas Novak

Galaxy Announces $5 Million Funding for Bitcoin Quantum Security Research

chest

Galaxy announced up to $5 million in funding for Bitcoin quantum-security work, including developer grants, research, and an advisory council.

user avatarMaya Lundqvist

IonQ Launches Superion 256 Quantum Computer with Orders Open for 2027 Delivery

chest

IonQ has launched its Superion 256 quantum computer, opening orders for delivery in 2027.

user avatarKaterina Papadopoulou

Prediction Markets Show Shifts in Oil Price Expectations

chest

Prediction markets are reacting to oil price fluctuations, with traders speculating on whether crude will reach $120 or fall to $55 first.

user avatarAisha Farooq

Record Diesel Prices Hit Ahead of Midterm Elections

chest

Record diesel prices reached a high of 594 a gallon, raising concerns about consumer affordability ahead of the midterm elections.

user avatarLi Weicheng

Brent Crude Surpasses $100 Amid Geopolitical Tensions

chest

Brent crude oil prices rose above $100 for the first time in six weeks due to geopolitical tensions, including attacks on Saudi oil facilities and US military responses.

user avatarLeo van der Veen

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.