US government to sell 41,490 BTC connected to Silk Road
- The US government sold 9,861 bitcoin on 14 March, netting over $215 million.
- 41,490 BTC remain from over 51,000 seized in November and will be sold in four batches this year.
- Court documents show that bitcoin is connected to the darknet market Silk Road.
The US government, which says it recently sold 9,861 bitcoin (BTC), is reportedly looking to liquidate another 41,500 BTC before the end of the year.
According to documents filed in court, the sale is for Bitcoin seized from entities connected to the infamous darknet marketplace Silk Road. The sale will occur in four batches this year.
US government sold over $215 million worth of BTC
Court documents show that the US government netted over $215 million when it sold 9,861.17 BTC out of the 51,351 bitcoin seized last November.
The liquidation occurred on 14 March, the court filing indicates, with this particular tranche of BTC forfeited by James Zhong following his arrest and arraignment over wire fraud related to Silk Road.
A total of 41,490 BTC remain from what was seized from Zhong, which the US government now plans to sell in four tranches. Justin Sun, the founder of Tron (TRX), says the US government should sell the BTC to him at a 10% discount through an OTC deal.
US government has announced its intention to sell an additional 41,500 #BTC this year. To minimize the potential impact on the market, I would like to offer to purchase these BTC at a 10% discount for an OTC deal.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) March 31, 2023