Feds Transfer $270 Million in Seized Silk Road Bitcoin to Coinbase

• Feds move $131 million in Bitcoin from a wallet linked to seized Silk Road funds to Coinbase • Part of previously announced plan to sell nearly $134 million in seized crypto • Comes after November 2021 seizure of $3.36 billion in Bitcoin from Silk Road hacker James Zhong • Large crypto holders moving funds often makes Bitcoin price drop on selling expectations
• Additional $139 million also transferred to same Coinbase account after initial movements