The US authorities’s administration of seized cryptocurrencies has come into focus with current exercise involving belongings confiscated from Noman Seleem.
Noman Seleem Ethereum on the transfer
Blockchain intelligence agency Arkham lately reported that an deal with marked “U.S. Authorities Noman Seleem Seized Funds” transferred 0.04 ETH to a brand new deal with. This small transaction, seemingly a check, presents perception into how the federal government manages confiscated digital belongings.
Simply In: Arkham marked as U.S. Authorities Noman Seleem Seized Funds (0x6f9) transferred 0.04 ETH to the brand new deal with 0x38cEd5767F1c16DeeA54c5175e0f23a5DAb1aD46, which can be a switch check. The US authorities addresses at present have 203.239K BTC, 121.734M USDT and 50.524K ETH.…
— Wu Blockchain (@WuBlockchain) August 5, 2024
The Seleem case dates again to Could 7, 2024, when a U.S. court docket ordered the forfeiture of 300 ETH from Noman Seleem’s non-public pockets.
This seizure is a part of a broader sample of presidency actions towards crypto-related crimes, typically utilizing civil forfeiture legal guidelines to focus on the belongings themselves.
Past the Seleem case, the dimensions of the U.S. authorities’s crypto holdings is substantial. Present estimates point out that government-controlled addresses maintain roughly 203,239 BTC, 121.734 million USDT, and 50,524 ETH.
These holdings signify the end result of assorted seizures and forfeitures associated to felony investigations.
The federal government’s rising crypto portfolio raises vital questions on its potential influence available on the market. As one of many largest holders of seized cryptocurrencies, the U.S. authorities’s selections relating to these belongings might affect market dynamics.
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