[ad_1] <br><div><figure class="caas-figure"><div class="caas-figure-with-pb" style="max-height: 400px"><div><div class="caas-img-container" style="padding-bottom:67%;"><img class="caas-img has-preview" alt="" src="https://s.yimg.com/ny/api/res/1.2/6wXYbg8flnGn3WIdsNib.Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA--/https://media.zenfs.com/en/Benzinga/03dedea8719a1038d00bd892fbeb4389"/></div></div></div></figure><ul class="caas-list caas-list-bullet"><li><p>Over the past couple of years, the U.S. authorities has turn into one of many largest whales of Bitcoin (CRYPTO: BTC/USD), with over 214,046 bitcoins at minimal.</p></li><li><p>The Division of Justice (DOJ) seized round 50,676.17 bitcoins (roughly $1 billion at in the present day’s costs) in November 2021 from a Bitcoin dealer named James Zhong, who defrauded darknet market Silk Street.</p></li><li><p>The seizure is notable—it’s the third largest in cryptocurrency historical past by <em>Crypto Briefing</em>’s <a target="_blank" class="link " href="https://cryptobriefing.com/the-u-s-government-has-over-4-4b-in-bitcoin-it-could-dump-anytime/" rel="nofollow noopener" data-ylk="slk:count">count</a>—particularly contemplating the quantity of Bitcoin the U.S. authorities already has below management.</p></li><li><p>Along with the 50,676 bitcoins seized from Zhong, the U.S. authorities has acquired no less than 163,370 bitcoins over the past two years, totaling 214,046 bitcoins, or about $4.43 billion, minimal.</p></li><li><p>In keeping with BitInfoCharts, just one bitcoin pockets, Binance’s chilly storage pockets, accommodates 252,597 bitcoins, principally belonging to Binance prospects, not the trade itself.</p></li><li><p>The U.S. authorities usually liquidates its Bitcoin holdings by way of the U.S. Marshalls Service by way of public auctions. More than likely, the seized bitcoins by the DOJ might be equally provided to the general public.</p></li><li><p>In November 2021, DOJ auctioned off $56 million value of cryptocurrencies seized from a BitConnect promoter on the peak of the bull market.</p></li><li><p>It's but to be seen if DOJ will watch for bitcoin costs to bounce again earlier than liquidating. Thus far, it has restrained itself from liquidating the proceeds from the Particular person X and Razzlekhan confiscations.</p></li><li><p>The company seized 69,370 bitcoins (value $1.4 billion) from Particular person X in 2020 and 94,000 bitcoins from Razzlekhan (value $1.9 billion).</p></li></ul><p><strong>See extra from Benzinga</strong></p><p>Do not miss real-time alerts in your shares - be part of <a target="_blank" href="http://benzingapro.com/?utm_campaign=partner_feed&amp;utm_source=yahooFinance&amp;utm_medium=partner_feed&amp;utm_content=site" rel="nofollow noopener" data-ylk="slk:Benzinga Pro" class="link ">Benzinga Pro</a> free of charge! <a target="_blank" href="http://benzingapro.com/?utm_campaign=partner_feed&amp;utm_source=yahooFinance&amp;utm_medium=partner_feed&amp;utm_content=site" rel="nofollow noopener" data-ylk="slk:Try the tool that will help you invest smarter, faster, and better" class="link ">Try the tool that will help you invest smarter, faster, and better</a>.</p><p><i>© 2022 Benzinga.com. Benzinga doesn't present funding recommendation. All rights reserved.</i></p></div> <br>[ad_2] <br><a href="https://news.google.com/__i/rss/rd/articles/CBMiUGh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy91cy1nb3Zlcm5tZW50LW1heS1saXF1aWRhdGUtYXJvdW5kLTEzMTU1NjA1MC5odG1s0gFYaHR0cHM6Ly9maW5hbmNlLnlhaG9vLmNvbS9hbXBodG1sL25ld3MvdXMtZ292ZXJubWVudC1tYXktbGlxdWlkYXRlLWFyb3VuZC0xMzE1NTYwNTAuaHRtbA?oc=5">Source link </a>