• 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

Chainlink's Major Holders Increase LINK Accumulation

chest

Chainlink's largest active holders have significantly increased their LINK holdings over the past month, indicating a potential tightening supply.

user avatarJacob Williams

Bitcoin Market Dynamics Shift as Institutional Investors Gain Influence

chest

A new analysis by top analyst Darkfost highlights the evolving dynamics of Bitcoin trading, emphasizing the impact of institutional investors on market behavior.

user avatarZainab Kamara

Fairshake PAC Holds $193 Million as It Influences Political Campaigns

chest

Fairshake PAC, a powerful political action committee in the crypto industry, holds $193 million to influence political campaigns, notably supporting Indiana Republican James Baird in his primary election.

user avatarSon Min-ho

BNB Consolidates as Market Tests Trend Continuation

chest

BNB is currently trading around 650, stabilizing after a sharp rejection from the 1,000-1,100 region, indicating a potential shift in market structure.

user avatarAyman Ben Youssef

Eric Trump anticipates that Bitcoin might hit $1 million.

chest

At Consensus Miami 2026, Eric Trump predicted that Bitcoin could reach $1 million, emphasizing the US's leadership in the cryptocurrency market and the growing acceptance of digital assets.

user avatarTando Nkube

Pioneering Cross-Border Redemption of Tokenized US Treasuries Achieved

chest

Pioneering cross-border redemption of tokenized US Treasuries achieved using the XRP Ledger.

user avatarKofi Adjeman

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.