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US Government Plans to Sell Over 41,000 Bitcoins Confiscated from Silk Road Hacker – Bitcoin News

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US Government Plans to Sell Over 41,000 Bitcoins Confiscated from Silk Road Hacker – Bitcoin News

In accordance with a courtroom doc filed on March 31, 2023, concerning the sentencing of James Zhong, who stole over 50,000 bitcoin from the Silk Street market, the U.S. authorities plans to liquidate 41,490 bitcoin “over the course of this calendar 12 months.”

U.S. Authorities Discloses Technique for Promoting Confiscated Bitcoin

The U.S. authorities, one of many largest holders of bitcoin, plans to promote 41,490 BTC in 2023, in accordance with a courtroom submitting submitted within the case of James Zhong’s sentencing. The federal government made the historic bitcoin seizure in November 2022 when it confiscated over 50,000 BTC from Zhong. The defendant pleaded responsible “to committing wire fraud in September 2012 when he unlawfully obtained over 50,000 bitcoin from the Silk Street darkish internet web market.”

Bitcoin.com Information reported six days in the past that, in accordance with Dune Analytics information and public disclosures, the U.S. authorities holds 205,515 BTC. Within the submitting submitted on Friday, federal authorities plan to promote a minimum of 41,490 BTC price $1.17 billion at at this time’s alternate charges.

The courtroom doc notes, “With respect to the 51,351.89785803 bitcoin forfeited within the Ulbricht case earlier than Decide Schofield, the federal government has begun liquidating (promoting) it. On March 14, 2023, the federal government offered 9,861.1707894 BTC (of the 51,351.89785803 BTC) for a complete of $215,738,154.98.”

In accordance with onchain analytics agency Glassnode, the sale of 9,861 BTC was detected, or a minimum of the time period when it was despatched to a significant alternate previous to promoting. “Of the bitcoin forfeited within the Ulbricht case, there stays roughly 41,490.72 BTC, which the federal government expects to be liquidated in 4 extra batches over the course of this calendar 12 months,” the submitting provides.

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Glassnode’s account of the onchain switch explains that the funds have been seemingly despatched to Coinbase. If the funds have been offered on Coinbase, it will be completely different from the U.S. authorities’s earlier public sale type of promoting seized crypto property. When the federal government sells the 41,490 BTC, it’ll nonetheless have 164,025 BTC, or $4.65 billion price, remaining.

Tags on this story
Analytics, Asset, Public sale, Bitcoin, bitcoin sale, Blockchain, BTC, Coinbase, confiscation, Felony Investigation, Cryptocurrency, Foreign money, darkish internet, Digital, Alternate, Fed sale, monetary, forfeiture, Fraud, glassnode, James Zhong, Liquidation, Market, prosecution, Seizure, sentencing, Silk Street, Ulbricht, US authorities, Wire Fraud

What do you consider the U.S. authorities’s determination to liquidate its seized bitcoin? Share your ideas within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information concerning the disruptive protocols rising at this time.




Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It’s not a direct supply or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, instantly or not directly, for any harm or loss induced or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.

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Revealed: Countries with the Highest Cryptocurrency Ownership, 2024 – CEOWORLD magazine

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Revealed: Countries with the Highest Cryptocurrency Ownership, 2024 – CEOWORLD magazine

A recent report by CEOWORLD magazine has ranked countries based on their cryptocurrency ownership rates. The study found that the United Arab Emirates (UAE) has the highest percentage of its population who own crypto, with almost 30.39% of the UAE’s total population owning crypto. This is largely due to the country’s favorable regulations towards blockchain technology, and the use of cryptocurrency is legal. Vietnam ranks second-highest among countries with the highest cryptocurrency ownership, with almost 21.19% of the total population owning crypto. The rapid digitization of the economy in Vietnam is responsible for the surge in crypto ownership across the country.

It is worth noting that if we were to rank countries based on the number of people who own cryptocurrency, India would come in first place with 93 million crypto owners, followed by China with 59 million, and the US with 52 million crypto owners coming in third place.

Countries with the Highest Cryptocurrency Ownership, 2024

Rank Country Population Ownership Ownership Percentage
1 United Arab Emirates 9,516,871 2,892,107 30.39
2 Vietnam 98,858,950 20,945,706 21.19
3 United States 339,996,563 52,888,108 15.56
4 Iran 89,172,767 12,000,000 13.46
5 Philippines 117,337,368 15,761,549 13.43
6 Brazil 216,422,446 25,955,176 11.99
7 Saudi Arabia 36,947,025 4,201,789 11.37
8 Singapore 6,014,723 664,627 11.05
9 Ukraine 36,744,634 3,885,037 10.57
10 Venezuela 28,838,499 2,970,365 10.3
11 South Africa 60,414,495 6,041,450 10
12 El Salvador 6,364,943 636,494 10
13 Argentina 45,773,884 4,451,944 9.73
14 Thailand 71,801,279 6,902,630 9.61
15 Canada 38,781,291 2,714,177 7
16 Pakistan 240,485,658 15,879,216 6.6
17 India 1,428,627,663 93,537,015 6.55
18 Mexico 128,455,567 8,409,115 6.55
19 Russia 144,444,359 8,749,780 6.06
20 Nigeria 223,804,632 13,261,259 5.93
21 Germany 83,294,633 4,814,430 5.78
22 United Kingdom 67,736,802 3,888,092 5.74
23 Turkey 85,816,199 4,825,626 5.62
24 Kenya 55,100,586 2,796,738 5.08
25 Morocco 37,840,044 1,921,753 5.08
26 Colombia 52,085,168 2,582,764 4.96
27 France 64,756,584 3,056,511 4.72
28 Nepal 30,896,590 1,410,342 4.56
29 Indonesia 277,534,122 12,205,132 4.4
30 China 1,425,671,352 59,134,683 4.15
31 Japan 123,294,513 5,096,970 4.13
32 South Korea 51,784,059 2,120,185 4.09
33 Ecuador 18,190,484 695,148 3.82
34 Cambodia 16,944,826 582,232 3.44
35 Spain 47,519,628 1,452,158 3.06
36 Egypt 112,716,598 3,423,723 3.04
37 Belarus 9,498,238 285,325 3
38 Malaysia 34,308,525 1,011,146 2.95
39 Poland 41,026,067 1,200,394 2.93
40 Netherlands 17,618,299 489,182 2.78
41 Australia 26,439,111 726,241 2.75
42 Portugal 10,247,605 276,185 2.7
43 Peru 34,352,719 881,811 2.57
44 Bangladesh 172,954,319 4,318,791 2.5
45 Italy 58,870,762 1,469,892 2.5
46 Lebanon 5,353,930 132,845 2.48
47 Hong Kong 7,491,609 180,991 2.42
48 Tanzania 67,438,106 1,621,947 2.41
49 Georgia 3,728,282 89,055 2.39
50 Taiwan 23,923,276 567,594 2.37
51 Palestine 5,371,230 126,293 2.35
52 Honduras 10,593,798 241,679 2.28
53 Bulgaria 6,687,717 150,302 2.25
54 Algeria 45,606,480 1,022,874 2.24
55 Ghana 34,121,985 759,162 2.22
56 Seychelles 107,660 2,347 2.18
57 Chile 19,629,590 421,831 2.15
58 Dominican Republic 11,332,972 243,632 2.15
59 Moldova 3,435,931 72,498 2.11
60 Tunisia 12,458,223 257,623 2.07
61 Jamaica 2,825,544 58,011 2.05
62 Bolivia 12,388,571 252,801 2.04
63 Switzerland 8,796,669 177,525 2.02
64 Somalia 18,143,378 351,706 1.94
65 Czech Republic 10,495,295 200,955 1.91
66 Sri Lanka 21,893,579 416,339 1.9
67 Iraq 45,504,560 845,138 1.86
68 Mozambique 33,897,354 630,991 1.86
69 Ivory Coast 28,873,034 537,819 1.86
70 Serbia 7,149,077 131,775 1.84
71 Ethiopia 126,527,060 2,259,197 1.79
72 Belize 410,825 7,366 1.79
73 Costa Rica 5,212,173 92,614 1.78
74 Kazakhstan 19,606,633 341,971 1.74
75 Armenia 2,777,970 48,266 1.74
76 DR Congo 102,262,808 1,758,920 1.72
77 Kyrgyzstan 6,735,347 115,621 1.72
78 Cameroon 28,647,293 481,930 1.68
79 Romania 19,892,812 333,758 1.68
80 Bahamas 412,623 6,638 1.61
81 Sweden 10,612,086 170,092 1.6
82 Jordan 11,337,052 178,935 1.58
83 Estonia 1,322,765 20,564 1.55
84 Greece 10,341,277 157,757 1.53
85 Myanmar 54,577,997 806,426 1.48
86 Rwanda 14,094,683 208,229 1.48
87 Slovakia 5,795,199 85,537 1.48
88 Uzbekistan 35,163,944 512,332 1.46
89 Guatemala 18,092,026 263,422 1.46
90 Belgium 11,686,140 168,588 1.44
91 Mongolia 3,447,157 49,553 1.44
92 Zimbabwe 16,665,409 238,138 1.43
93 Finland 5,545,475 77,263 1.39
94 Laos 7,633,779 105,579 1.38
95 Barbados 281,995 3,856 1.37
96 Uruguay 3,423,108 46,251 1.35
97 Albania 2,832,439 38,109 1.35
98 Austria 8,958,960 120,181 1.34
99 Hungary 10,156,239 134,603 1.33
100 Panama 4,468,087 59,505 1.33
101 Senegal 17,763,163 230,279 1.3
102 Benin 13,712,828 178,470 1.3
103 Latvia 1,830,211 23,797 1.3
104 New Zealand 5,228,100 67,275 1.29
105 Mali 23,293,698 293,819 1.26
106 Croatia 4,008,617 50,520 1.26
107 Togo 9,053,799 113,348 1.25
108 Israel 9,174,520 113,814 1.24
109 Nicaragua 7,046,310 87,095 1.24
110 Paraguay 6,861,524 85,078 1.24
111 Mauritius 1,300,557 16,082 1.24
112 Lithuania 2,718,352 33,462 1.23
113 Cyprus 1,260,138 15,415 1.22
114 North Macedonia 2,085,679 25,111 1.2
115 Uganda 48,582,334 578,284 1.19
116 Denmark 5,910,913 70,605 1.19
117 Madagascar 30,325,732 356,559 1.18
118 Azerbaijan 10,412,651 121,397 1.17
119 Norway 5,474,360 63,735 1.16
120 Slovenia 2,119,675 24,498 1.16
121 Montenegro 626,485 7,239 1.16
122 Bosnia and Herzegovina 3,210,847 36,202 1.13
123 Ireland 5,056,935 56,166 1.11
124 Saint Lucia 180,251 2,002 1.11
125 Zambia 20,569,737 220,509 1.07
126 Trinidad and Tobago 1,534,937 16,467 1.07
127 Angola 36,684,202 381,696 1.04
128 Namibia 2,604,172 26,961 1.04
129 Botswana 2,675,352 27,457 1.03
130 Malta 535,064 5,504 1.03
131 Maldives 521,021 5,353 1.03
132 Luxembourg 654,768 6,484 0.99
133 Suriname 623,236 6,170 0.99
134 Fiji 936,375 9,082 0.97
135 Iceland 375,318 3,626 0.97
136 Burkina Faso 23,251,485 223,201 0.96
137 Haiti 11,724,763 111,385 0.95
138 Tajikistan 10,143,543 95,902 0.95
139 Republic of the Congo 6,106,869 58,015 0.95
140 Libya 6,888,388 64,863 0.94
141 Gabon 2,436,566 22,528 0.92
142 Bahrain 1,485,509 13,536 0.91
143 Afghanistan 42,239,854 381,110 0.9
144 Malawi 20,931,751 187,835 0.9
145 Qatar 2,716,391 24,557 0.9
146 Guyana 813,834 7,127 0.88
147 Brunei 452,524 3,892 0.86

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Interesting Altcoins | May 2024 Cryptocurrency With Room To Grow | ChainBits

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Interesting Altcoins | May 2024 Cryptocurrency With Room To Grow | ChainBits

The bull run of 2024 has ignited excitement across numerous lesser-known coins. This article looks closely at some altcoins that show potential for growth. With the market’s direction aimed upwards, these selections could be the focus for investors aiming to expand their portfolios. The insights here are tailored to guide choices in a climate ripe for investment, steering attention towards coins that may not be household names but have promising futures.

BlastUP Token Projected to Soar 1000% By Year’s End

BlastUP has been getting a lot of attention lately thanks to its high potential to become a major force in the crypto industry. This pioneering launchpad on Blast has already attracted nearly 15,000 active users

The ongoing presale of BlastUP is a huge success, with around $6 million raised so far. The BlastUP token is considered by crypto experts as a hidden crypto gem that can skyrocket 1000% by the end of this year. 

>> Buy BlastUP Tokens <<

BlastUP helps crypto startups grow faster and earn more. As BlastUP forges ahead, it remains committed to creating a global hub for the Blast community. BlastUP is rapidly gaining traction for the benefit of all participants in this ecosystem.

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BlastUP’s roadmap extends into 2026, promising the introduction of AI-driven tools and the Community Marketplace, further enriching the ecosystem’s capabilities.

 The BlastUP token, a cornerstone of the platform, unlocks access to tiered IDO launches, staking rewards, and exclusive loyalty benefits.

>> Join BlastUP  <<

Polkadot’s Market Sees Mixed Signals Amid Varied Performance

Polkadot’s market sentiment appears to be cautious with a mixture of positive and negative trends. Recently, Polkadot has seen modest gains in the short term, but this is contrasted by a decline over the last month. The medium-term perspective shows significant growth. The current trading pattern suggests investors are weighing their confidence in Polkadot’s underlying technology and its capacity for building a scalable, interconnected blockchain ecosystem against the broader market’s challenges. The sentiment is finely balanced, reflecting an air of uncertainty about the coin’s immediate direction.

Polygon Sees Mixed Signals Amid Varied Market Sentiments

Polygon is currently experiencing a tug of war between buyers and sellers, reflecting a state of uncertainty in the market. Recent price actions suggest cautious optimism as the coin has managed to hold its ground despite downward pressure. However, the overall decline over the past month indicates a lingering wariness among investors. The coin’s utility in scaling Ethereum transactions and supporting various decentralized applications gives it a strong foundation, which might attract long-term interest despite the current market hesitancy.

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Osmosis Market Stabilizes Amidst Varied Performance

In recent times, the trading patterns of Osmosis have shown mixed signals to investors. While it appears to be steadying after a period of decline, buyers and sellers are finding common ground somewhat lower than previous highs. The market’s behavior suggests a balancing act between optimism and caution. With Osmosis’ unique position as a liquidity provider in the decentralized finance (DeFi) ecosystem, its ability to attract new liquidity could be a driving factor in its potential upward movement, should market sentiment shift favorably.

Ondo Shows Bullish Signs Amid Market Fluctuations

The Ondo token has been attracting attention with its recent performance. Despite variable market movements, the general sentiment around Ondo appears bullish as it consistently trades above key benchmarks. This positive trend is reinforced by steadily climbing short-term averages and interest from traders. The coin’s foundational traits, which emphasize secure and efficient transactions within its ecosystem, suggest that the uptrend might sustain if these characteristics resonate with the wider crypto community’s needs for reliable digital currencies.

Conclusion

Altcoins such as DOT, MATIC, OSMO, and ONDO have shown promise for growth in the current bull market. Despite this potential, in the short term, they exhibit less room for significant jumps in value. Instead, the standout with the most growth potential is BlastUP. This coin draws attention due to its innovative concept and the advantage of being part of the Blast ecosystem. Investors looking for promising opportunities might find BlastUP an intriguing project to consider. It stands out as the altcoin with the highest potential as of May 2024.

Site: https://blastup.io/

Twitter: https://twitter.com/Blastup_io

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Discord: https://discord.gg/5Kc3nDhqVW

Telegram: https://t.me/blastup_io

 

 

 

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Disclaimer: Chainbits is not the source of this content. This article is provided for educational purposes only. Users should exercise caution with investing/dealing with cryptocurrencies and do thorough research prior.

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3 Cryptocurrency Trends: XRP's Potential Surge, BlockDAG Innovations, and Hedera's Achievements

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3 Cryptocurrency Trends: XRP's Potential Surge, BlockDAG Innovations, and Hedera's Achievements

The cryptocurrency landscape is currently experiencing fascinating changes as different digital currencies display distinct growth patterns. For example, XRP shows promise of an imminent surge, as indicated by technical markers like the monthly RSI, which suggests a pattern similar to historical rallies. In contrast, Hedera has recently celebrated a milestone of over 50 billion transactions, with its market performance suggesting strong investor interest.

Amid these developments, BlockDAG Network has gained considerable attention, particularly for its prominent exposure on YouTube. Lux Crypto’s thorough analysis sheds light on BlockDAG’s practical innovations, such as the cryptocurrency payment card, which forecasts significant growth and makes it a significant topic in crypto discussions.

Will XRP Ascend? Analysis from Bitcoin Expert Miky Bull

Bitcoin expert Miky Bull anticipates a substantial rise for XRP, pointing to a breakout signalled by the monthly Relative Strength Index (RSI). His analysis highlights a symmetrical triangle pattern in XRP’s monthly chart, ongoing since its peak in 2021. Miky Bull also notes a similar pattern from 2014 to 2017, which preceded a major surge. He underscores the recent testing of the triangle’s boundaries and increased acquisition of XRP by major investors as indicators of a potential breakout.

While Miky Bull refrains from precise price forecasts, other analysts predict XRP could reach between $13 and $200. However, the wider market remains wary due to ongoing regulatory challenges impacting cryptocurrencies.

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Lux Crypto’s Optimistic Outlook on BlockDAG: Predictions and Insights for 2025

BlockDAG is swiftly emerging as a prominent blockchain player, with strategic support from notable influencers like Lux Crypto. As a leading Layer 1 blockchain network, BlockDAG has attracted substantial attention and investment, raising over $24.6 million from presale events and an additional $2.4 million from miner sales. Lux Crypto has played a crucial role in promoting BlockDAG’s benefits, particularly through his detailed YouTube analyses, exploring its unique capabilities and its potential to revolutionize daily cryptocurrency transactions.

Moreover, BlockDAG’s introduction of the crypto payment card marks a significant innovation, facilitating easy management and transaction of digital and fiat currencies within the BlockDAG ecosystem. Lux Crypto recently emphasized the card’s utility in connecting traditional financial systems with the cryptocurrency world, enhancing transaction accessibility globally.

Lux Crypto also projects that BlockDAG’s value could reach between $40 and $50 by the end of 2025, sparking further interest. His endorsement highlights the financial benefits of investing in BlockDAG during its presale phases and supports its scalability and mining enhancements. This excitement is echoed in the community, with many anticipating considerable returns and a strategic $2 million giveaway to boost BlockDAG’s market presence.

Hedera’s Bullish Market Signals After Surpassing 50 Billion Transactions

In contrast, Hedera (HBAR) has recently exceeded 50 billion mainnet transactions, indicating its rising popularity and usage, as noted in a recent network tweet. This achievement coincided with an 8.08% increase in HBAR’s value over the past day to $0.1187, following its breakout from a horizontal trading pattern.

The cryptocurrency’s technical indicators are also promising, with a daily RSI of 57.59, suggesting strong buying interest and potential for further growth. Additionally, HBAR’s current price surpasses its 200-day moving average of $0.08615, often seen as a bullish market indicator.

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Concluding Thoughts

As the cryptocurrency sector evolves, the differences between various digital currencies become increasingly clear, each establishing its niche in the market. XRP and Hedera stand out with their impressive technical achievements and transaction volumes.

However, BlockDAG’s distinctive strategy uniquely positions it within the community, especially its visibility on platforms like YouTube. Lux Crypto’s engaging and detailed presentations clarify BlockDAG’s technology and emphasize its significance and potential for real-world applications. As the industry progresses, BlockDAG’s blend of innovative technology and practical usability sets an inspiring standard for future developments.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

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Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

 

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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