The argument that BlackRock gains from cheaper Bitcoin for its ETF launch isn’t straightforward, and neither is the idea that the government is suppressing BTC’s price.
Silk Road News
The Silk Road was a darknet market best known as a platform for selling illegal goods. It operated as a Tor hidden service to exclude traffic monitoring, which was convenient for criminals to deliver their services through the network. Silk Road was launched in February 2011 and already had 10,000 products for sale 70% of which were drugs by March 2013.
Although there were a lot of illegal products on the site, there were also restrictions: child pornography, stolen credit cards, assassinations, and weapons of any type were banned for sale and exchange. The site provided some legal goods as well, such as apparel, art, books, cigarettes, erotica, jewelry, and writing services.
The Silk Road was shut down in October 2013 by the FBI, whose agents also arrested Ross William Ulbricht, the founder of the system. There were two attempts to recreate the Silk Road, but both of them have been unsuccessful. The latest news on the Silk Road promises no further attempts.
The government previously promised to liquidate approximately 40,000 remaining BTC from the seizure in “four more batches” over the remainder of the calendar year.13310
James Zhong pleaded guilty to the wire fraud charges in November 2022 and has been awaiting sentencing for his role in the “unlawfully obtained” Bitcoin scheme.20208
On March 14, 2023, the government sold 9,861 BTC for $215.7 million, according to court documents filed on March 31.19956
Significant headwinds continue to batter BTC, and this week’s options expiry is unlikely to provide any relief.11083
A large transfer of Bitcoin associated with U.S. law enforcement likely caused a spike in the on-chain metric.10460
US law enforcement agencies have confiscated thousands of BTC from the Silk Road over the years, and a significant chunk of it has been auctioned from time to time.16727
Want to keep the government from snooping on your transactional history? Start studying the forensics of crime and privacy on the blockchain.2415
U.S. Attorney Damian Williams cited “state-of-the-art cryptocurrency tracing” and “good old-fashioned police work” in the authorities' recovery of the stolen Bitcoin.4091
Offenders that use cryptocurrency for illegal activity in Australia are more likely to receive a tougher sentence.1751
FreeRossDAO buys the Silk Road founder's NFT created from prison and auctioned off via SuperRare to fund future efforts to free Ulbricht.6995
Those who support him hope he raises enough money to fulfill his personal and charitable needs, while others think he shouldn’t be selling NFTs at all.14695
Regulatory scrutiny from around the world has forced the cryptocurrency exchange to up its compliance and auditing measures.3273
A crypto-funded TV comedy series intends on releasing a full episode as an NFT.17240
Anonymous sources claim that President Trump is sympathetic to the Free Ross campaign and is considering clemency for the Silk Road founder.12041