đ **US Government Moves $4M in Seized BTC to Coinbase!** đ
In an intriguing twist, the US government transferred 58.742 BTC, valued at nearly $4 million, to Coinbase on Monday. The funds, seized from Maryland resident Ryan Farace, were originally confiscated three years ago following his conviction for selling Alprazolam on the dark web.
Farace's father, Joseph, was also convicted for laundering the proceeds. The Department of Justice recovered a total of 2,933 BTC from the duo and announced plans to liquidate these holdings earlier this year.
Despite the transfer, analysts believe this move won't significantly impact BTC's spot price. Currently, BTC is trading around $67,000. đ
