From Investing.com: 2024-06-27 14:00:21

Cryptocurrency advocate John Deaton shares thoughts on US government’s $250M Bitcoin transaction to Coinbase, funds confiscated from Silk Road in 2013. Deaton criticizes SEC chairman Gary Gensler for calling Coinbase “illegal” for trading altcoins. Despite lawsuit, US government sells 3,940 BTC to Coinbase, worth $241.22M.

After transaction, US government still holds 213,546 BTC confiscated from Silk Road, valued at over $13B. Analysts believe Bitcoin price may not be significantly impacted by the sale, but BTC saw a 1.76% drop to $60,688 post-sale. Bitcoin now trading at $61,260.

Read more at Investing.com: ‘Silk Road’ Bitcoin Sent to Exchange Proclaimed ‘Illegal,’ Crypto Advocate Enraged By U.Today