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Dec 5, 08:54 AM
U.S. Seizes $1.9 Billion from Silk Road; CFTC Reports $17.1 Billion in Relief, $33.6 Million from FTX
Law
Hacks
Business
Crypto

U.S. Seizes $1.9 Billion from Silk Road; CFTC Reports $17.1 Billion in Relief, $33.6 Million from FTX

Authors
  • Cointelegraph
  • unusual_whales
  • Bloomberg Markets
12

The U.S. government has seized $1.9 billion from the Silk Road and deposited it in a Coinbase wallet. Additionally, the Commodity Futures Trading Commission (CFTC) reported record monetary relief of $17.1 billion for fiscal year 2024, largely due to enforcement actions against the defunct cryptocurrency exchange FTX, which contributed $12.7 billion to this total. The CFTC's actions included $2.6 billion in civil monetary penalties and $14.5 billion in disgorgement and restitution. In a related development, the U.S. government moved $33.6 million in seized cryptocurrency from FTX and Alameda Research to undisclosed wallets, including 5,024 ETH valued at approximately $18.17 million and $13.58 million in Binance USD (BUSD). Meanwhile, the UK government currently holds over $6 billion in Bitcoin, which has been under its control for 3.5 years following its seizure from Zhimin Qian in 2021.

Written with ChatGPT (GPT-4o mini).

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