{"id":52117,"date":"2024-12-03T01:03:00","date_gmt":"2024-12-03T01:03:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/us-government-silk-road-bitcoin-coinbase"},"modified":"2024-12-03T03:37:15","modified_gmt":"2024-12-03T03:37:15","slug":"us-govt-transfers-1-9b-btc-seized-from-silk-road-to-coinbase-prime","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=52117","title":{"rendered":"US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase Prime"},"content":{"rendered":"

Blockchain records showed the United States government moved more than $1.9 billion worth of Bitcoin seized from the Silk Road marketplace to a Coinbase Prime wallet.<\/p>\n

According to data from blockchain analytics firm Arkham Intelligence, on Dec. 2, a wallet tied to the US government transferred roughly 19,800 Bitcoin (BTC) \u2014 worth $1.9 billion at the time \u2014 to a Coinbase Prime deposit address. US authorities seized the Bitcoin in a 2021 investigation of James Zhong, who was later convicted of wire fraud related to the Silk Road marketplace.<\/p>\n

\"Silk
Blockchain data showing the US government transferring BTC to Coinbase Prime wallet. Source: <\/em>Arkham Intelligence<\/em><\/p>\n<\/figcaption><\/figure>\n

The US Justice Department announced in 2022 that it had seized more than 50,000 BTC from Zhong at the time, including coins in a wallet \u201con a single-board computer that was submerged under blankets in a popcorn tin.\u201d The government has since moved many of the Bitcoin to different wallets, but it still held roughly $18 billion worth of BTC at the time of publication.<\/p>\n

It\u2019s unclear if moving the coins was part of a strategy by authorities to trade or sell the funds. US lawmakers, including Senator Cynthia Lummis and President-elect Donald Trump, have suggested passing legislation to establish a \u201cstrategic Bitcoin reserve\u201d in the US.<\/p>\n

Related: <\/strong><\/em>US government crypto wallets hacked for $20M \u2014 Arkham Intelligence<\/strong><\/em><\/p>\n

The US Marshals Service \u2014 the federal agency responsible for seizing cryptocurrencies and other assets involved in criminal actions \u2014 said in July it would partner with Coinbase Prime to custody tokens connected to asset forfeitures. Coinbase still faces a civil suit filed by the US Securities and Exchange Commission in June 2023.<\/p>\n

Developments in the Silk Road case<\/h2>\n

In its heyday, the Silk Road marketplace facilitated millions of dollars worth of transactions with crypto users, who were able to purchase illicit items like weapons, drugs and stolen credit card information. Ross Ulbricht, the platform\u2019s creator, was sentenced to life in prison without the possibility of parole in 2015.<\/p>\n

Since the 2024 US election, many in the crypto industry have called on Trump to commute Ulbricht\u2019s sentence. The president-elect promised to do so \u201con day one,\u201d but he had already had the opportunity during his first term.<\/p>\n

Magazine: <\/strong><\/em>Legal issues surround the FBI\u2019s creation of fake crypto tokens<\/strong><\/em><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

*********************************<\/p>\n

If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n

EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n

Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n

*********************************<\/p>\n

Be the first to get most important HYIP news everyday!
\nSimply Follow EN Facebook<\/strong><\/a>, EN Telegram<\/strong><\/a>, EN Twitter<\/strong><\/a>
\nor Subscribe to EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n

If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Blockchain records showed the United States government moved more than $1.9 billion worth of Bitcoin seized from the Silk Road marketplace to a Coinbase Prime wallet. According to data from blockchain analytics firm Arkham Intelligence, … US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase Prime<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":52118,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-52117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nUS gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase Prime - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=52117\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase Prime - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Blockchain records showed the United States government moved more than $1.9 billion worth of Bitcoin seized from the Silk Road marketplace to a Coinbase Prime wallet. According to data from blockchain analytics firm Arkham Intelligence, … US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase PrimeRead more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/emilynews.com\/blog\/?p=52117\" \/>\n<meta property=\"og:site_name\" content=\"EmilyNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-03T01:03:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-03T03:37:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/12\/usbtc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"838\" \/>\n\t<meta property=\"og:image:height\" content=\"558\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emilynews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emilynews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=52117\",\"url\":\"https:\/\/emilynews.com\/blog\/?p=52117\",\"name\":\"US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase Prime - EmilyNews\",\"isPartOf\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=52117#primaryimage\"},\"image\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=52117#primaryimage\"},\"thumbnailUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/12\/usbtc.jpg\",\"datePublished\":\"2024-12-03T01:03:00+00:00\",\"dateModified\":\"2024-12-03T03:37:15+00:00\",\"author\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\"},\"breadcrumb\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=52117#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/emilynews.com\/blog\/?p=52117\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=52117#primaryimage\",\"url\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/12\/usbtc.jpg\",\"contentUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/12\/usbtc.jpg\",\"width\":838,\"height\":558},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=52117#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/emilynews.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase Prime\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/emilynews.com\/blog\/#website\",\"url\":\"https:\/\/emilynews.com\/blog\/\",\"name\":\"EmilyNews\",\"description\":\"EmilyNews Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/emilynews.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\",\"name\":\"Emilynews\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"caption\":\"Emilynews\"},\"url\":\"https:\/\/emilynews.com\/blog\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase Prime - EmilyNews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/emilynews.com\/blog\/?p=52117","og_locale":"en_US","og_type":"article","og_title":"US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase Prime - EmilyNews","og_description":"Blockchain records showed the United States government moved more than $1.9 billion worth of Bitcoin seized from the Silk Road marketplace to a Coinbase Prime wallet. According to data from blockchain analytics firm Arkham Intelligence, … US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase PrimeRead more","og_url":"https:\/\/emilynews.com\/blog\/?p=52117","og_site_name":"EmilyNews","article_published_time":"2024-12-03T01:03:00+00:00","article_modified_time":"2024-12-03T03:37:15+00:00","og_image":[{"width":838,"height":558,"url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/12\/usbtc.jpg","type":"image\/jpeg"}],"author":"Emilynews","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Emilynews","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/emilynews.com\/blog\/?p=52117","url":"https:\/\/emilynews.com\/blog\/?p=52117","name":"US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase Prime - EmilyNews","isPartOf":{"@id":"https:\/\/emilynews.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/emilynews.com\/blog\/?p=52117#primaryimage"},"image":{"@id":"https:\/\/emilynews.com\/blog\/?p=52117#primaryimage"},"thumbnailUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/12\/usbtc.jpg","datePublished":"2024-12-03T01:03:00+00:00","dateModified":"2024-12-03T03:37:15+00:00","author":{"@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33"},"breadcrumb":{"@id":"https:\/\/emilynews.com\/blog\/?p=52117#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/emilynews.com\/blog\/?p=52117"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/?p=52117#primaryimage","url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/12\/usbtc.jpg","contentUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/12\/usbtc.jpg","width":838,"height":558},{"@type":"BreadcrumbList","@id":"https:\/\/emilynews.com\/blog\/?p=52117#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/emilynews.com\/blog"},{"@type":"ListItem","position":2,"name":"US gov\u2019t transfers $1.9B BTC seized from Silk Road to Coinbase Prime"}]},{"@type":"WebSite","@id":"https:\/\/emilynews.com\/blog\/#website","url":"https:\/\/emilynews.com\/blog\/","name":"EmilyNews","description":"EmilyNews Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/emilynews.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33","name":"Emilynews","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","caption":"Emilynews"},"url":"https:\/\/emilynews.com\/blog\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/52117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52117"}],"version-history":[{"count":1,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/52117\/revisions"}],"predecessor-version":[{"id":52119,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/52117\/revisions\/52119"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/media\/52118"}],"wp:attachment":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}