According to people familiar with the matter, the US Marshals Service (USMS) is unable to confirm the amount of bitcoin it currently holds, or even give a rough estimate. This management flaw could affect the US government's plan to build a crypto reserve, proposed by White House crypto director David Sacks, which could change the way the government handles seized crypto assets and could even involve the purchase of cryptocurrencies. At present, the USMS still relies on Excel records and manual ...
According to people familiar with the matter, the U.S. Marshals Service (USMS) failed to provide Senator Cynthia Lummis with detailed information about its handling of the dark web Silk Road case. Lummis sent a letter to the USMS last month expressing concern about the agency's plan to sell some 69,370 seized bitcoins, which are worth more than $6.60 billion at current market prices. She noted that this could result in financial losses for taxpayers and be linked to Trump...
Scott Johnsson, a financial lawyer, said on the X platform that the United States Marshals Service (USMS) is almost certainly selling Silk Road bitcoins. According to the service agreement signed between USMS and Coinbase in June, USMS has been sending bitcoins to the escrow address required by the agreement. Since the protocol requires that USMS's assets must remain completely segregated, once the transfer finally reaches Coinbase Prime (or another hybrid trading address), it can be determined ...