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

US Transfers Nearly $600 Million Worth of Bitcoin to Coinbase

user avatar

by Giorgi Kostiuk

2 years ago

  1. US Government Bitcoin Transfer
  2. Purpose of the Coinbase Transfer
  3. Sources of the Bitcoin


    4. The US government transferred 10,000 Bitcoin, worth over $593 million, to a Coinbase Prime deposit wallet.

    US Government Bitcoin Transfer

    According to blockchain analytics firm Arkham Intelligence, the Bitcoin was sent to Coinbase Prime. Despite initial concerns, analysts believe that the sale of these Bitcoins is unlikely.

    Purpose of the Coinbase Transfer

    Last month, the US Department of Justice partnered with Coinbase Prime to safeguard and trade large digital assets. Ryan Lee, chief analyst at Bitget Research, believes that the Bitcoin was likely transferred for safekeeping rather than active trading.

    Sources of the Bitcoin

    The Bitcoin was seized during the Silk Road raid in 2022, when the Department of Justice announced the seizure of 50,000 BTC. Silk Road, operating on the dark net, offered the sale of illicit goods. Its creator, Ross Ulbricht, was arrested in 2013 and is serving two life sentences without parole.

    The US government's transfer of a large amount of Bitcoin to Coinbase suggests an interest in secure storage rather than quick sales, contributing to market stability.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Record High Google Searches for Oil Prices Amid US-Iran Tensions

chest

Record high Google searches for oil prices amid US-Iran tensions reflect global concern over military actions and oil supply disruptions.

user avatarAyman Ben Youssef

US-Iran Talks Fail, Oil Prices Hit $105

chest

The recent US-Iran talks in Islamabad ended in an impasse, leading to a surge in oil prices, which have now reached $105.

user avatarSon Min-ho

Ethereum's Price Experiences Drop and Stabilization.

chest

Ethereum price has started a fresh decline, trading below key levels and consolidating above 2,175.

user avatarTando Nkube

WLFI Token Price Declines Amidst Controversy

chest

The price of World Liberty Financial (WLFI) tokens has significantly declined, dropping below $0.008 and losing over 20% of its value due to growing controversies surrounding the project.

user avatarKofi Adjeman

World Liberty Financial Faces Liquidity Concerns

chest

World Liberty Financial (WLFI) is facing scrutiny due to its financial practices, having deposited nearly $2 billion in tokens into the Dolomite lending protocol and borrowed over $31 million in stablecoins, raising liquidity concerns.

user avatarNguyen Van Long

Justin Sun Accuses World Liberty Financial of Deception

chest

Justin Sun accuses World Liberty Financial of having a backdoor in its smart contract, allowing the team to freeze user funds without warning.

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.