Cryptocurrency Market Alert!
This time it's serious! The U.S. government has recently taken action again, transferring a large amount of cryptocurrency seized in the legal disputes involving FTX and Alameda Research! As soon as this news broke, the crypto market went crazy!
According to Arkham Intelligence, on December 3rd, 54.8 billion Shiba Inu tokens (SHIB), valued at $1.55 million, were directly transferred to a new wallet! Shortly after, Ethereum (ETH) worth $17.2 million followed suit, causing blockchain analysts to go into a frenzy, closely monitoring the activities of these government wallets.
In addition to SHIB and ETH, the U.S. government also transferred several smaller assets, such as $13.5 million in Binance USD (BUSD), $36,070 worth of Axie Infinity (AXS), and various other cryptocurrencies totaling $296,000. These include Compound (COMP), Numeraire (NMR), Wrapped Bitcoin (WBTC), and Yearn Finance (YFI)!
Speaking of Bitcoin, the seizure operations are still ongoing! Earlier this year, the government transferred nearly $2 billion worth of Bitcoin to new wallets. These transactions are related to early cases from the Silk Road investigations, truly astonishing in terms of the scale of digital assets under federal control!
As of now, the digital assets held by the U.S. government have reached $19.48 billion, primarily consisting of Bitcoin, Ethereum, USDT, WBTC, and BNB. This is all due to several high-profile cryptocurrency investigations, including the collapse of FTX in November 2022 due to alleged mismanagement.
The impact on the crypto market has been immediate! Just as the market was recovering, this transfer from the U.S. government directly created selling pressure. Although Ethereum has risen to $3,643 and the trading volume hit a new high of $183.74 billion in November, this wave of operations still makes people anxious. SHIB as well, with so many transferred, how can the market not panic?
Although we still don't know what will happen to these assets, this event once again highlights the importance of digital currencies in legal affairs and regulation. Friends, we need to stay vigilant!
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