SILK ROAD BITCOIN WORTH NEARLY $2B MOVED TO COINBASE PRIME

Summary from the TLDR Crypto newsletter

The US government transferred 19,800 BTC, worth almost $2 billion, to Coinbase Prime, likely with the intent to sell following recent court approval for liquidation. The assets come from the Silk Road seizure. The move caused Bitcoin to dip below $96,000, though the market reaction was notably muted compared to previous government sales. The move, executed through the US Marshals Service's partnership with Coinbase Prime, represents a significant portion of confiscated assets. The government still holds approximately $18 billion in seized crypto assets.