US Government to Sell Over 44,000 Bitcoins Today
The US Marshals Service is auctioning off the remaining 44,000 BTC confiscated from Ross Ulbricht during the Silk Road investigation today.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SZPKEBHBZ5E7TOA3F2SPLS6S5Q.png)
The US Marshals Service (USMS) has begun its auction of 44,341 BTC seized from convicted Silk Road operator Ross Ulbricht, marking the final sale in a process that began in June 2014.
The tranche constitutes the remainder of as much as 144,000 BTC seized from Ulbricht, who ran the Silk Road dark marketplace under the pseudonym Dread Pirate Roberts. Ulricht was sentenced to life in prison in May, though he is appealing the verdict.
Today's auction, the fourth held by the agency since it auctioned 30,000 BTC in June 2014, is running from 8am to 2pm local time.
According to the USMS, the event features 22 auction blocks. The first 21 blocks will each consist of 2,000 BTC up for sale, with the final tranche consisting of approximately 2,341 BTC.
Registration for the auction began on 19th October and ran through 12 pm EDT on 2nd November. Confirmed participants include the Digital Currency Group subsidiary Genesis Trading and bitcoin hedge fund Binary Financial.
Image via Wikipedia
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.