Tagbitcoin auction

$25 Million: US Marshals to Auction 2,170 BTC Later This Month

Bitcoin auction

The US Marshals Service (USMS) has announced that it will auction off nearly $25 million worth of Bitcoin in less than two weeks. On Monday, the agency issued a statement revealing that it will hold a sealed bid auction to dispose of 2,170 BTC -- worth $23.6 million at the present Bitcoin exchange rate -- seized in connection with a variety of criminal, civil, and administrative cases. Notably...

US Government Wants to Seize 500 BTC from Alleged ID Forgers

The US government is seeking to confiscate 500 bitcoins from individuals charged with creating and distributing forged identification documents. On Thursday, the US Attorney’s Office for the Northern District of Ohio announced that four individuals had been indicted for allegedly manufacturing and transferring falsified documents such as drivers’ licenses and personal identification cards issued...

Finland to Auction 2,000 Bitcoins Seized in Silk Road-Linked Drug Busts

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Finland’s government is preparing to hold its first Bitcoin auction. The Treasury Department has recommended that the government auction off the approximately 2,000 BTC it seized in connection with drug busts nearly two years ago, according to a report from Finnish-language media outlet Helsingin Sanomat. "We recommend public auction for the [sale of the] bitcoins. An auction can be used to...

US Marshals Service Will Auction off 3,800 Bitcoins, Worth $54 Million

Bitcoin auction

The US Marshals Service is holding its first bitcoin auction in over a year.  The agency first held a series of auctions in 2014, selling Bitcoin forfeited by Ross Ulbricht in the United States clamp-down on the darkweb drug marketplace the Silk Road. In the last of these auctions, the agency sold 2,700 Bitcoin for $1.6mln (worth about $37.8mln today).  Now, the Marshals Service will be...

Sweden's Government Sells Bitcoin in Auction at a Premium Price

Bitcoin auction

A Swedish government agency tasked for debt collection has successfully completed a bitcoin auction at above market rates. First announced last week by the Kronofogden, Sweden’s ‘Enforcement Authority’, the Swedish government revealed its intent to sell 0.6 BTC, approx. 23,000 kroner ($3,200) at the time. The authority did not reveal the source of its bitcoin but local reports claimed that the...

South Korean Government to Auction Off Bitcoin Worth $518,000

On June 14, Local publications including the Seoul Economic Daily revealed the plans of the South Korean government to auction of 216 bitcoins worth around $518,000 at the time of reporting, seized during a series of previous investigations into illicit financial activities. The Korea Asset Management Corporation (KAMCO), an asset management arm of the South Korean government which oversees state...

Winklevoss Bros’ Gemini Exchange Launches Daily Bitcoin Auctions

Gemini Trust Co., the New York-based digital currency exchange founded by the Winklevoss Brothers has begun the first-ever daily bitcoin auction in a bid to facilitate trading with higher volumes at lower costs with better prices. Starting today, the bitcoin ecosystem will see an exchange adopt a daily bitcoin auction at 4 P.M New York time, every day including holidays and weekends. In an...

Final Silk Road Bitcoin Auction: $1.6 Million Value, Draws Only 5 Bidders?

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A total of five people bid on $1.6 million in bitcoin the government auctioned on Monday, according to Inverse, which begs the question: why did so few seek to bid on the last block of bitcoins the government was auctioning from the Silk Road bust of 144,000 bitcoins? The U.S. Marshals Service (USMS) auctioned the block of 2,700 bitcoins on Monday. In six hours, someone placed the winning bid...

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