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Senator Lummis probes US federal law enforcement about Bitcoin sale

“Democrats legacy: A loss of more than $18.5 billion in unrealized value for American taxpayers,” the senator wrote on social media.

Wyoming Senator Cynthia Lummis sent a letter to the United States Marshals Service on Jan. 15 demanding answers for the government’s potential sale of 69,370 Bitcoin (BTC) seized in the Silk Road asset forfeiture.

Lummis characterized attempts to sell the US government’s Bitcoin holdings as a form of political spite. In an excerpt of the letter provided by Politico, the senator wrote:

The potential sale of the Silk Road BTC was given the green light after Judge Richard Seeborg denied a petition to block the asset forfeiture.

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Wyoming proposes bill for Strategic Bitcoin Reserve

US Marshals likely selling Silk Road Bitcoin, says lawyer

The lawyer’s claims spark questions about market stability amid the potential sale of Silk Road Bitcoin by the US Marshals.

United States finance lawyer Scott Johnsson has said the US Marshals Service (USMS) is almost certainly in the process of selling Bitcoin seized from the infamous Silk Road marketplace. 

Johnsson’s assertions are grounded in a service agreement signed between the USMS and Coinbase in June. According to Johnsson, this agreement indicates that once Bitcoin (BTC) reaches Coinbase Prime, it is a clear sign that the USMS has either sold or is about to sell these assets. 

Johnsson explained that the USMS has been sending Bitcoin to a custodial address in accordance with the agreement’s terms.

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Wyoming proposes bill for Strategic Bitcoin Reserve

US Announces ‘Historic $3.36 Billion Cryptocurrency Seizure’ as Silk Road Bitcoin Thief Pleads Guilty

US Announces ‘Historic .36 Billion Cryptocurrency Seizure’ as Silk Road Bitcoin Thief Pleads GuiltyThe man who stole over 50,000 bitcoins from the Silk Road marketplace has pleaded guilty. According to the U.S. Department of Justice, “the seizure was then the largest cryptocurrency seizure” in the history of the DOJ and “remains the department’s second-largest financial seizure ever.” Silk Road Exploiter Pleads Guilty The U.S. Department of Justice (DOJ) […]

Wyoming proposes bill for Strategic Bitcoin Reserve