### In a recent court filing, the United States Government has announced the sale of 9,800 BTC for a total of $215.7 million. These Bitcoins were seized in November 2021 from James Zhong, who pled guilty to unlawfully obtaining over 50,000 BTC from the Silk Road dark web marketplace in 2012. This move is part of the government's plan to sell off the remaining 41,490 bitcoins in four separate sales this year.

Launched in 2011, the notorious Silk Road darknet marketplace allowed users to buy and sell illicit goods, weapons, and services. The FBI shut down the marketplace in 2013, and its creator, Ross Ulbricht, was eventually caught and convicted. 

Bitcoin's association with the Silk Road and other dark web marketplaces has caused some to view the cryptocurrency with suspicion. However, Bitcoin's use in illegal activities is not unique, as traditional financial systems (fiat) have also been used for illicit transactions.

Despite news of the US government's sale of Silk Road-related Bitcoin, the crypto market has remained relatively stable, and Bitcoin has not experienced a drastic drop in price. 

In a recent court filing, the United States Government has announced the sale of 9,800 BTC for a total of $215.7 million. These Bitcoins were seized in November 2021 from James Zhong, who pled guilty to unlawfully obtaining over 50,000 BTC from the Silk Road dark web marketplace in 2012. This move is part of the government's plan to sell off the remaining 41,490 bitcoins in four separate sales this year.

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US Government To Cash Out 41,490 Silk Road-Linked Bitcoin In Four Tranches This 2023

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Fri Apr 07 2023 US Government To Cash Out 41,490 Silk Road-Linked Bitcoin In Four Tranches This 2023

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Fri Apr 07 2023

US Government To Cash Out 41,490 Silk Road-Linked Bitcoin In Four Tranches This 2023