US stocks up, BTC down!!!
The US Marshals Service (USMS) is almost certainly selling Silk Road Bitcoin. Joey is right (at least for now).
The USMS has been sending BTC to the escrow address required by the terms of the service agreement signed with Coinbase in June.
Given that the agreement requires USMS assets to remain completely segregated, you can be sure that USMS has sold or will soon sell whenever assets are eventually transferred to CB prime (or other hybrid exchange addresses).
Official confirmation will finally come (at the latest) in the DOJ’s FY2024 Asset Forfeiture Program Report in January, if not sooner. I also don’t think it’s a coincidence that Trump’s speech is the only time this issue is being seriously considered.
Unfortunately, this was also predictable based on the DOJ’s Office of Inspector General audit report, the US Postal Service’s “Cryptocurrency Services Agreement” RFP, and certain court orders. Biden-Harris may choose to pause during this transition period, but I doubt they will. Ironically, this admin made the CB Prime transfer on the same day as the Crypto4Harris all-hands meeting!
