Arkham: US government transfers around 2 billion USD worth of Bitcoin

According to a tweet from the blockchain data company Arkham, the US government recently transferred $2 billion worth of Bitcoin, a move that seems to be related to funds seized by the US Department of Justice from the dark web marketplace Silk Road in the past. It is speculated that a portion of the 10,000 Bitcoins may have been transferred to Coinbase.

According to a tweet from the blockchain data company Arkham, the US government recently transferred $2 billion worth of Bitcoin, and the address seems to be related to funds previously confiscated by the US Department of Justice from the dark web marketplace Silk Road. It is speculated that one of the transferred batches of 10,000 Bitcoins may have been sent to Coinbase.

According to Arkham's tweet, the US government has transferred $2 billion worth of Bitcoin, and the address appears to be linked to funds seized by the US Department of Justice from the dark web marketplace Silk Road. At the end of last year, the US officially confiscated 69,370 Bitcoins and other cryptocurrencies related to Silk Road.

Arkham's monitoring reveals that the US government split the Bitcoin into two separate addresses after the transfer:

• 10,000 BTC (approximately $670 million)

• 19,800 BTC (approximately $1.33 billion)

The address holding the 10,000 Bitcoins is bc1qlap8hkt9genaljz5nt2zlehhudx63zlahr2zek, and Arkham believes it represents deposits to institutional custody/service providers.

According to a report from early July, the US Marshals Service, responsible for "asset forfeiture," announced that it had chosen Coinbase Prime to provide custody for large digital assets and "advanced trading services." Bloomberg analyst James Seyffart speculates that this transfer is likely related to this partnership.

Coinbase favored by the US Marshals Service for providing cryptocurrency custody services