U.S. government has transferred a portion of the Bitcoin seized from the infamous Silk Road marketplace. This recent transfer, amounting to $2 billion, marks the first such action in nearly four months.
James Seyffart, a senior ETF analyst at Bloomberg, suggested that the transfer could be part of a reorganization effort to better manage and hold custody of the confiscated Bitcoins.
The announcement came shortly after Coinbase revealed on July 2 that the U.S. Marshals Service (USMS), the U.S. Department of Justice’s asset forfeiture agency, had chosen Coinbase Prime to provide custody and advanced trading services for its large digital assets. This decision followed a comprehensive selection process.
According to the USMS, these assets will be centrally managed to support federal law enforcement efforts. The U.S. Marshals Service website also clarified that the distribution of these assets would occur on a schedule over five years, rather than all at once.
