$BNB
Today many media outlets reported on the U.S. Department of Justice
about the approval to sell 69,000 BTC seized from Silk Road
However, looking at the narrative, all news sources point to a
few short sentences from a blogger on X media, which is
ridiculous because
according to the Department of Justice, there is a legal process
for selling seized assets
which usually requires the Department of Justice's marshals
service to conduct a judicial
auction, rather than taking it to various exchanges or OTC for direct sale.
Before the auction, there will also be verification of
auction qualification registration and other
processes, with a minimum preparation time of at least half a month. Even if
the U.S. Department of Justice wants to sell this batch of BTC, it would have to wait until
Trump takes office to execute it. However, the elected
President of the U.S. has clearly stated that
he will not sell a single BTC. Some media have verified
the announcements from the U.S. Department of Justice
and the marshals service, and there is no announcement regarding this sale.
The most likely situation is that someone is taking advantage of the fire,
spreading salt on the wound during a market downturn,
creating panic, and forcing everyone to sell their chips at a low price,
in order to maximize profits for future increases.
Such malicious intent and unscrupulous behavior require everyone to be vigilant,
to look after their own chips and not let the market makers wash them out.