The US government has transferred over 30,170 Bitcoin (approximately $2 billion) from the Silk Road hack fund to the Coinbase exchange and a new wallet address with a total fee of only…$16

The Silk Road BTC address (linked to the US government) moved 2,000 Bitcoin ($131M) to Coinbase Prime and 29,800 Bitcoin ($1.95B) to a new address 8 hour ago.

This is likely an OTC deal and does not directly affect the BTC spot price. They still hold 179.19K BTC ($11.7B) in the old wallets.


Now the crazy part about this story is that they transferred 30,170 Bitcoin (approximately $2 billion) with no regulations or paperwork like the bank does.

Imagine if you wanted to transfer that amount of money by using the bank 😂, they would have freaked out and asked you everything about this transaction. They would need to ask their bosses to come and see you directly, and you would have to sign A LOT of papers to get through with YOUR MONEY. Not to mention about how much the fee is and how long you could have waited for this amount of money to actually be “processed” and “completed”.

If I were to risk losing my money between the bank and cryptocurrency, I would choose cryptocurrency because I can have control over it. I wouldn't have to wait for the bank to retrieve it for me or follow their instructions on what to do next, especially since they can be unreliable.

What side are you on?

50 thoughts on “The US government has transferred over 30,170 Bitcoin (approximately $2 billion) from the Silk Road hack fund to the Coinbase exchange and a new wallet address with a total fee of only…$16”

  1. If someone have that much money, whatever bank fee cost will be only tickle their ass

  2. Problem is, when you deposit into a bank it is no longer, technically, your money… It becomes a loan to the bank and they “use it” to fund “business”… They have X amount of money in deposits so they can borrow Y amount of money and effectively sell that debt to you as loans.

  3. Rookie move. They should be keeping all “their”Bitcoin for when the USD collapses

  4. That place I used to (allegedly) spend 5+ BTC on mid weed to be delivered to me hidden in a DVD case? Thats where all the escrow BTC went?

  5. Who’s in charge of sending these transactions? Could you imagine if someone fat fingered the wallet address and just sent it to the void?

  6. How hilarious would it be if they fucked up the transfer and burned that $2b in btc.

  7. It could still affect price later considering the US did announce its plans to sell these illicit gains off in numerous transactions to break it apart in the next couple years they dont plan to hold any of it

  8. If you are making billion dollar transaction you aren’t going to give a shit about couple bucks in fees. Your number one priority is to not lose it all due to some small errors

  9. Think of the destruction that could be caused if they wanted to sell them all.

  10. Why do they still have silk road btc. My belief was they auctioned that off years ago anonymously. Some high government official from California bought it if I can remember correctly

  11. I think I’m in this side but I also thinks there is an envelope with 4 k hidden in my closet in case my phone dies… haha

  12. Hopefully they are paying that off the national debt but I’m sure it’s probably making a few rich fucks richer somehow

  13. I’m pretty sure when bitcoin was invented, the government was probably not supposed to be such a big player.

  14. So the US govt is in with Coinbase.

    Works well for many other companies like Boeing, Lockheed, Tesla, Etc..

    YOLO Coinbase?

  15. How ironic, crypto, KYC, full transparency the IRS and governments want to know. Only to leave us knowing what they are truly doing. Make the entire government budget in your wallet. We would love to follow it!

  16. Any bets on what they want to spend it on? I’m guessing hookers and blow since they have our tax money for everything else.

  17. As if the government never moves this much money internally… your bank fraks out about this sum cause of your history, not because of the sum.

    If you always moved millions that would be a nok issue..

  18. They used to announce and hold sealed bid auctions. I guess we’re all too Plebeian to be informed of such things in 2024

    Or it could have market significance now so it isn’t announced beforehand anymore

  19. Suddenly when big investment funds who own the government need more OTC bitcoin, the US comes to the rescue

  20. How did they transfer it? It seems like every time I transfer or trade any crypto, it costs at least 10%

  21. People think that huge fees are charged by banks for moving massive amounts of money.

    They’re wrong. There may be documentation required or not as it’s already in the bank so will already be AML/KYC checked to the max.

    A standard wire fee would be charged. You don’t pay more because you’re sending more. In fact I have had bank accounts with free wires but that was in Europe where the level of greed is slightly lower than in the US, lol

  22. More awesome (might be the wrong word) info for my big institutions/countries hypocrites infodump that ive hoarded through the years and planning to share as soon as i figure out the easiest way to host and build a simple website. Haven’t done that in 15+ yrs and don’t feel like starting from html..

  23. >What side are you on?

    I think that these ~$14B could be our black swan event that will end this bull run

  24. There must still be people from years and years ago with bitcoin sat somewhere from buying off silkrow and mot even realise

  25. Just waiting until they get scammed by North Korea or some other bad persons of all their crypto. Gonna be a hoot.

  26. The STINKING filth of government. It’s like a soured disgusting reek in humanities underwear.

  27. I hope the exchange gets hacked and they lose it all. They could kinda get a taste of their own medicine.

  28. I always wonder who is this person sitting somewhere in a basement managing the US government coins. IF YOU ARE ONE OF US then send them to Satoshis address or ‘accidentally’ burn them in a different way

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