The post US government transfers $1.9 billion in Bitcoin to Coinbase appeared on BitcoinEthereumNews.com.

Key Takeaways The US government moved 20,000 Bitcoin worth $1.9 billion to Coinbase from a Silk Road-related wallet. The wallet still contains approximately $18 billion in Bitcoin after the latest transfer. A crypto wallet linked to the US government recently transferred approximately 20,000 Bitcoin, valued at $1.9 million, to Coinbase, according to data tracked by Arkham Intelligence. The wallet, which still holds approximately $18 billion worth of Bitcoin, contains crypto assets confiscated from Silk Road, a dark web marketplace that facilitated trades in illegal drugs and weapons before its shutdown in 2013. The US government moves $1.9 billion in Bitcoin to Coinbase The recent transaction was executed in two parts, starting with a test transfer of 0.001 BTC, valued at $97, to a Coinbase Prime deposit address, followed by a larger transfer of 1,920 BTC, approximately $1.9 billion, to an intermediary wallet before reaching Coinbase. These transfers follow a previous movement in late August when the government reportedly sent 10,000 BTC, worth approximately $600 million, to Coinbase from the same wallet. Bitcoin’s price dropped to $96,200 following the transfer, according to CoinGecko data. The movement has attracted attention from crypto market participants who are monitoring the government’s handling of its Bitcoin holdings. Source: https://cryptobriefing.com/us-government-bitcoin-transfer-coinbase/

---

Filed under: News - @ December 2, 2024 5:25 pm