Re: Feds transferred BTC from seized Silk road wallet to Coinbase

Quote from: SilverCryptoBullet on Today at 03:15:15 AM

Quote from: Darker45 on Today at 02:39:35 AM

Also, Coinbase has Coinbase Prime, their OTC exchange where institutions are making deals probably in hundreds of millions, if not billions. This amount coming from the US government might end up there. In which case, it won't be shaking the market much.

No information that how the US. Government sold bitcoins from Silk Road in the past.

Information is only about Coinbase.

U.S. Government Sold $216M of Seized Silk Road Bitcoin This Month

The Government's sentencing memorandum regarding defendant James Zhong

Yeah, it wasn't specified in this report how the seized coins were sold. It was possible those were sold via the spot market. It was also possible the coins were sold via OTC. But I heard of auctions of seized coins in the past.

What's interesting, however, is that when the $216 million worth of seized coins were sold last year, it didn't cause a massive dump. Instead, just mere days after the selling, the price of Bitcoin went up more than 25%. And it even continued to rise right after. So, this planned liquidation of around $131 million worth of coins won't probably be a big deal this time.