ChainCatcher message, regarding "The U.S. Department of Justice has been authorized to sell $6.5 billion in seized Silk Road Bitcoin," CryptoQuant CEO Ki Young Ju posted on X: "Last year, based on realized market cap, $379 billion entered the market, about $1 billion per day. The $6.5 billion (Bitcoin) sold by the U.S. government could be absorbed within a week. Don't panic."

ChainCatcher message, according to Trader T's post on X, regarding "the U.S. government has been authorized to liquidate 69,370 BTC seized from the Silk Road on the dark web," it may take several months from authorization to actual sale.In addition, according to Spot On Chain, the U.S. government currently holds about 197,000 BTC. Since previous sales were conducted through over-the-counter transactions, they did not directly affect the price, but the resulting market panic may lead to a temporary price drop.

ChainCatcher news, an official confirmed to DB News today that the U.S. government has been authorized to liquidate 69,000 bitcoins (worth $6.5 billion) from Silk Road. Notably, this comes less than two weeks after the new administration took office, which has vowed not to sell.

ChainCatcher news, the U.S. Court of Appeals finalized an authorization on Wednesday to formally seize 69,370 bitcoins (worth approximately $3 billion) and other cryptocurrencies associated with the now-defunct dark web Silk Road marketplace.The ruling was initially made in August, but according to a document from the U.S. Court of Appeals for the Ninth Circuit, the ruling will now take effect. The document submitted on Wednesday lists Silk Road founder Ross Ulbricht as the defendant, with two claimants and the U.S. government as plaintiffs.According to the original indictment, the U.S. government has taken control of these cryptocurrencies after the so-called "Person X" attacked the Silk Road and took control of its funds.

According to ChainCatcher news, data released by Spot On Chain shows that 9,825 bitcoins related to the dark web Silk Road, transferred by the U.S. government 12 hours ago, have been further distributed to 104 addresses. Among them, 101 addresses each hold 79.2 bitcoins, while the other three addresses hold 1,118.7 bitcoins, 506.5 bitcoins, and 200.8 bitcoins, respectively. There have been no further transfer actions for the above bitcoins. (source link)