Why It Matters: The US government selling its Bitcoin holdings is significant because it could greatly influence cryptocurrency prices, affecting the overall market for digital assets.

Recent Developments:

The US on 25th Jan, 2024 initiated the process to sell 2933.64 Bitcoin worth over $130 million, seized from the Silk Road, a notorious online black market. [Source: Blockworks]
These Bitcoins are associated with Ryan Farace, who received a 54-month prison sentence in Maryland for money laundering related to drug transactions.
Ryan Farace, along with his father Joseph, was convicted of laundering Bitcoins earned from drug sales, which they were required to surrender to the US government. Ryan, convicted initially in 2018, claimed he couldn't access the Bitcoins used in darknet dealings.

Note: This dashboard includes publicly available information, including labels for specific wallet addresses which means that the US Government could hold much more than the estimated values.

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