Bitcoin Exchange itBit Wins 10,000 BTC in US Government Auction
New York-based bitcoin exchange itBit has revealed it successfully secured five auction blocks as part of last week's bitcoin auction overseen by the US Marshals Service (USMS). The event saw the government agency oversee the sale of 44,000 BTC (valued at $16.6m at press time) on the open market, with each auction block consisting of 2,000 BTC or more. Bobby Cho, Director of Trading at itBit, told CoinDesk: "We confirm that itBit's auction bid, organized on behalf of a syndicate of our exchange and OTC trading clients, won five blocks in the final USMS auction." The exchange had originally....
Related News
New York exchange itBit has revealed it successful bit for and won five auction blocks during last week's bitcoin auction conducted by the United States Marshals Service (USMS). The U. S. government held its final auction of seized bitcoins from Darknet drug market Silk Road on Thursday, last week in an event that saw the sale of 44,341 BTC. With a total of 21 blocks, 20 auction blocks contained 2,000 BTC with one additional block of 2,341 BTC. At the time of announcing the auction, a notice from the USMS read: These bitcoins were held in wallet files that resided on certain computer....
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....
On November 5 the U.S. government sold the last cache of the Dread Pirate Roberts (DPR) Silk Road stash. The auction saw the sale of over 44,000 BTC, which sold for 17.2 Million dollars. The U.S. Marshals Service (USMS) stated there were 11 bidders and 30 bids placed throughout the sale. On October 9th, the Bitcoin exchange itBit claimed that it had won 5 of the blocks of coins sold during the event. Quite a few members of the crypto-community throughout various forums have been following the trail of Bitcoins that were sold by the USMS. The blocks sold on Thursday were part of 21 caches....
ItBit becomes the first US regulated exchange, but the EU might be about to harmonize digital currency law for 500 million people. On Thursday, May 7, Ben Lawsky tweeted out the now signed charter for ItBit, confirming its status as a registered trust business. This move allows ItBit to operate an online currency exchange between USD or other fiat currencies, and something like Bitcoin. Addressing the move in a press release on Thursday, Lawsky explained how he saw the chartering of ItBit as an important step in legitimizing and harnessing the potential of digital currencies for investors....
Last week's US government auction of confiscated Silk Road bitcoins has left a lingering mystery: who won the two biggest blocks of 27,000 and 20,000 coins? The winners of the two previous US Marshals Service (USMS) bitcoin auctions always wound up announcing themselves within days of their successful bids. The first auction winner was, famously, venture capitalist Tim Draper, who claimed all the 30,000 bitcoins for sale. The second auction saw the lion's share go to a syndicate organised by Bitcoin Investment Trust, although Draper again picked up some coins. The third and most recent....