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

Ethereum Developers Delay Glamsterdam Upgrade on Hoodi Testnet

Ethereum developers have postponed the Glamsterdam upgrade initially scheduled for the Hoodi testnet on October 26, with no new activation date provided.

user avatarJacob Williams

Samsung and Solana to Enable Cross-Border USDC Transfers in Samsung Wallet

Samsung and Solana announced plans to integrate cross-border USDC transfers into Samsung Wallet, targeting 82 million US Galaxy devices.

user avatarZainab Kamara

More Americans Have Tried Crypto Than Last Year, But Usage Remains Flat

A recent survey shows that 22% of Americans have tried cryptocurrency, up from 18% last year, but active usage remains flat at 13%. Curiosity drives interest in crypto.

user avatarSon Min-ho

Solana Expands Speaker Lineup for Breakpoint Event in London

Solana has announced an expanded speaker lineup for its upcoming Breakpoint event in London, scheduled for November 15-17, 2023, featuring notable political and financial figures.

user avatarAyman Ben Youssef

Strategy Shareholders Approve Daily Dividends Plan

On October 28, 2026, Strategy shareholders approved an amendment for daily dividends on preferred stocks.

user avatarTando Nkube

Cautious Outlook on Bitcoin's Future Amid Market Trends

Cautious outlook on Bitcoin's future as analyst Rekt Capital draws comparisons to the 2022 bear market amid repeated dips below 80,000.

user avatarSatoshi Nakamura

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.