OpenSesame
vip

What is the authenticity of the news that the US Department of Justice has approved the sale of Silk Road BTC?


On the morning of January 9th, as the market fell, major cryptocurrency media reported a bearish news, that is, 'the US Department of Justice approved the sale of the seized $6.5 billion dark web Silk Road BTC.' As soon as this news came out, BTC fell sharply below $94,000.
The house leaks when it rains at night, and there is constant wailing in the circle. However, after verifying this information, it was found that the source of the news is not very credible, and the journalist did not find official confirmation from the US Department of Justice. Even if the news is true, according to the past procedures of the Department of Justice for selling seized BTC, the Department of Justice basically cannot sell these BTC in the short term, that is, before Trump takes office. And Trump has made a commitment that the United States will not sell any BTC during his presidency.
In conclusion, the U.S. Department of Justice will not actually sell coins at this stage, and it will not bring selling pressure to the market.
There is only one news source
According to the reports from major coin circle media sources, it can be found that the linked sources are all messages released by a personal blogger of X.
And the main body of this account is a news media in the currency circle, but the media needs to pay to browse its website, and the fee is not low.
Based on the above information, Jinse Financial journalists believe that the media's credibility is not high, and the brief statement released by account X, "The US Department of Justice has approved the sale of the detained $6.5 billion dark web Silk Road BTC," does not specify the specific source of the news, and therefore cannot be verified.
Even if it is true, the Ministry of Justice cannot sell the BTC it holds in the short term.
Golden Finance and Economics reviewed and summarized the process of the US Department of Justice selling the confiscated BTC. Even if this news is true, the Department of Justice will basically be unable to sell the BTC in its hands before Trump takes office.
The BTC seized by the US Department of Justice is generally auctioned off by the US Marshals Service, rather than being sold directly OTC or through exchanges. This is similar to the Department of Justice auctioning off confiscated real estate and other assets for profit and then turning it over to the treasury.
Taking the 2020 Marshals Service auction process as an example, about 4040 BTC were auctioned, involving various federal criminal, civil, and administrative cases.
At that time, the news of the auction of these BTC by the Judicial Police Department was released on February 3, 2020, requiring potential bidders to complete registration before February 12, and the auction would be held on February 18.
According to the specific sales terms announced by the US Marshals Service at that time, the successful bidder should be prepared to wire the purchase funds to the USMS on February 19, 2020. The USMS will not transfer any BTC until confirming receipt of the buyer's purchase funds.
That is, from the release of the news to the actual auction, the auctioneer actually receives BTC, and then it may be sold on the market, which takes more than half a month.
And now, there are only 11 days left before Trump takes office, and the Jinse Finance reporter did not find any recent news of auctioned confiscated BTC on the official website of the gendarmerie.
It is evident that at least the U.S. Department of Justice would not actually sell the confiscated BTC of the Silk Road before Trump took office.
In summary, the widely circulated news this morning, which has affected the market, about the 'US Department of Justice approving the sale of $6.5 billion worth of Silk Road BTC seized from the dark web' is likely to be false information.
View Original
post-image
[The user has shared his/her trading data. Go to the App to view more.]
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • 2
  • Share
Comment
0/400
PigWhoWantsToFlyvip
· 01-09 18:57
Is that so? That's good.
Reply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)