🚀 Exciting News from the Crypto World! 🚀

- The US government just transferred 58,742 BTC (worth nearly $4 million) to Coinbase on Monday.

- According to Arkham Intelligence, these funds came from the address "US Government: Ryan Farace Seized Funds."

- The funds were seized three years ago from Ryan Farace, who was convicted in 2018 of selling Alprazolam (Xanax) on the dark web.

- His father, Joseph Farace, was also convicted of money laundering and bitcoin trading. The DOJ managed to recover 2,933 BTC from the duo and planned to liquidate it since January.

- This liquidation is not expected to have a major impact on BTC spot prices, in contrast to the massive selling by the German state of Saxony.

What do you guys think? Come on, discuss in the comments column! 💬