Genesis Trading, Binary Financial to Bid in Final Silk Road Bitcoin Auction
Major bitcoin industry companies including Digital Currency Group (DCG) subsidiary Genesis Trading and bitcoin hedge fund Binary Financial are set to participate in a government auction of just over 44,000 BTC (worth $18.3m at press time) to be held on Thursday. Announced in October by the US Marshals Service (USMS), the auction, to be held from 12:00 to 18:00 UTC, will see the sale of the last remaining confiscated from convicted Silk Road operator Ross Ulbricht, who was sentenced to life in prison this May. The initial auction saw investor and Draper Fisher Jurvetson (DFJ) partner Tim....
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The US Marshals Service (USMS) has begun its auction of 44,341 BTC seized from convicted Silk Road operator Ross Ulbricht, marking the final sale in a process that began in June 2014. The tranche constitutes the remainder of as much as 144,000 BTC seized from Ulbricht, who ran the Silk Road dark marketplace under the pseudonym Dread Pirate Roberts. Ulricht was sentenced to life in prison in May, though he is appealing the verdict. Today's auction, the fourth held by the agency since it auctioned 30,000 BTC in June 2014, is running from 8am to 2pm local time. According to the USMS, the....
The much awaited bitcoin auction by the United States Marshals Service is finally over. The US Marshals Service, in possession of confiscated bitcoins from the Silk Road investigation auctioned the last of them earlier on Thursday. Thursday's auction had about 44,341 bitcoins worth $17.21 million out for bidding by those who had earlier registered with the US Marshals Service. According to reports, the online auction saw 11 bidders bidding 30 times over a span of six hours. Completion of the latest auction signifies liquidation of all the bitcoins seized from the wallets belonging to Silk....
Two-time auction winner Tim Draper has revealed to CoinDesk that he is not participating in today's auction of more than 44,000 BTC confiscated from convicted Silk Road operator Ross Ulbricht. The venture capitalist and Draper Fisher Jurvetson (DFJ) partner was the sole winner of the first US government auction of nearly 30,000 BTC (then valued at roughly $18m) held last July, again purchasing 2,000 BTC (worth $750,000) in an auction of 50,000 BTC held in December 2014. Though short in his remarks, Draper told CoinDesk that he "didn't participate" in today's auction, which is scheduled to....
The end of an era has been reached. The final Silk Road bitcoin auction took place on Thursday, November 5th and unfortunately, the results couldn’t be more disappointing. Much like “Lost,” “Dexter” and “The X-Files,” this exciting series administered and organized by the US Marshals Service (USMS) has delivered a real flop for its finale, with a mere eleven participants placing bets and going through the motions. This marks the lowest number of bidders since the second auction that took place nearly a year ago in December of 2014.
Over the past year, the U. S. Marshals Service (USMS ) has auctioned off a large part of the bitcoin that had been confiscated as a result of the Silk Road investigation. The USMS will hold the final auction for 44,341 bitcoin seized as a result of the criminal conviction and civil forfeiture against Ross Ulbricht. At today's market price, the bitcoin are worth about $15 million. During the course of the investigation, the USMS seized more than 144,000 BTC from Ross Ulbricht, the creator of the Silk Road marketplace. At the moment of seizure, the bitcoin were worth about $122 million. In....