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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

UK's Crypto Regulations Under Scrutiny Ahead of FATF Evaluation

Britain's new crypto regulations will be assessed by the Financial Action Task Force in 2027, with concerns about their effectiveness against crypto laundering.

user avatarKenji Takahashi

Bitcoin Faces Major Decline Following Hot CPI Data

Bitcoin has dropped significantly, trading at just over $69,300 after the latest consumer price index results came in hotter than expected.

user avatarMaria Fernandez

AI Agents May Become New Bitcoin Users with pi402

The introduction of pi402 may lead to autonomous AI agents becoming a new category of Bitcoin users.

user avatarGustavo Mendoza

Lightning Labs Unveils New Bitcoin Payment Technology for AI Agents

Lightning Labs has launched pi402, a new technology enabling AI coding agents to make payments directly using Bitcoin.

user avatarRajesh Kumar

Chainstack Expands Incident Report on Security Breach

Chainstack has updated its incident report detailing an October security breach caused by access control failures.

user avatarMiguel Rodriguez

Sygnum Launches ETH Alpha Fund Targeting 8-10% Annual Returns

Sygnum has launched its ETH Alpha Fund targeting annual returns of 8-10% for professional investors, combining staking with various strategies.

user avatarLuis Flores

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.