**US Government Address Transfers to Anonymous Destination, BTC Intents Unknown**

IconCryptoNewsTerminal Staff22 Jul, 2024

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**US Government Address Transfers to Anonymous Destination, BTC Intents Unknown**

US Government Address Transfers BTC According to Decrypt, on August 22nd, an address connected to the US government moved 58.742 BTC, roughly $4 million, to an anonymous address. Source of Funds The transferred Bitcoin was part of assets seized from Ryan Farace and his father, who were convicted in a dark web drug trafficking case. Unclear Intent The purpose of the transfer remains uncertain. It could be a sale, funds management, or a measure related to the ongoing legal proceedings. Government's Bitcoin Holdings The US government's Bitcoin holdings now stand at 0 BTC, indicating a potential shift in its digital asset strategy.