US Marshals: Latest Bitcoin Auction Timed to Avoid Market Disruption
Noted bitcoin investor Barry Silbert has announced Bitcoin Investment Trust will form a syndicate for the auction. The US Marshals Service (USMS) has revealed it intends to auction potentially all of the 144,000 BTC confiscated from Ross Ulbricht during its Silk Road investigation in the coming months, but that it has elected to break up the sales in order to prevent disruptions to the bitcoin market. The USMS announced on 17th November that it will auction off just 50,000 BTC previously owned by Ulbricht, who stands accused of operating the now-defunct Silk Road online black marketplace.....
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The US Marshals Service (USMS) has revealed that its next bitcoin auction could take place in the first quarter of 2015. The federal agency tasked with managing assets seized during criminal investigations has to date auctioned off nearly 80,000 BTC confiscated in the FBI's shutdown of now-infamous online black market Silk Road. The USMS did not reveal further details about the timing to CoinDesk, stating only: "We do anticipate that we will hold another bitcoin auction in the first quarter of this year. The agency also declined to elaborate further on ongoing plans for upcoming auctions,....
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....
More than 40 hours after the close of the US Marshals Bitcoin auction, the value of 1 BTC against the US dollar has held almost perfectly stable. At the start of Friday’s auction at 6:00 AM EDT, 1 BTC was worth US$590 according to our price tracker. As of 2:00 PM EDT, 1 BTC was worth US$596. Some feared that the auction of more than US$17 million worth of bitcoins would cause a panic sell and possibly send the value of the cryptocurrency tumbling. Instead, a slight uptick was the result. The auction Friday was held by the US Marshals Service, which held about 30,000 bitcoins as a result of....
New York-based bitcoin exchange itBit has revealed it was one of the three participants in the latest US Marshals Service (USMS) bitcoin auction to place a winning bid. itBit is reporting it successfully secured 3,000 BTC, worth roughly $888,000 at press time. The amount was the smallest total accumulated among the three winners. Two other bidders, the identities of whom are not public at this time, won 27,000 BTC ($7.9m) and 20,000 BTC ($5.9m) during the auction, respectively. The disclosure comes shortly after the government agencyannounced the successful transfer of the 50,000 BTC....
According to several reports, the U.S. government has announced another Bitcoin auction on August 22, selling 2,719 BTC — worth $1.6 million USD at press time — confiscated by authorities. This will be the latest auction of cryptocurrency since the last U.S. Marshals (USMS) sale last year. Multiple Forfeiture Cases Allows USMS to Hold Another Bitcoin....