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🌐 China Allegedly Resumes Selling Seized Ethereum from PlusToken Scam

👀 The cryptocurrency market faces potential turbulence as reports emerge of the Chinese government allegedly resuming the sale of Ethereum (ETH) seized from the PlusToken pyramid scheme. This development marks the first significant movement of these assets since 2021, with approximately 7,000 ETH out of the remaining 542,000 ETH (valued at $1.3 billion) reportedly transferred to exchanges within the past 24 hours.

❓ The PlusToken scam, operational from 2018 to 2019, amassed substantial cryptocurrency holdings before Chinese authorities intervened. While a significant portion of the confiscated Bitcoin was liquidated between 2019 and 2020, the majority of the Ethereum remained untouched until mid-2021. The resurgence of these asset movements could potentially exert downward pressure on ETH prices in the short term.

💬 How do you think this large-scale liquidation of seized assets by a government entity might impact market sentiment and the broader adoption of cryptocurrencies? Could this influence future regulatory approaches to handling confiscated digital assets?

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