China News by Thebittimes.Com

The government previously promised to liquidate approximately 40,000 remaining BTC from the seizure in “four more batches” over the remainder of the calendar year. A cryptocurrency wallet associated with the United States Department of Justice (DOJ) moved approximately 9,825.25 Bitcoin worth around $299 million in a series of transactions on July 12.  It’s unclear at this time whether the transactions, which appear to have ultimately propagated to at least 101 new wallets, were sent to exchange addresses for sale or remain in the custody of the Justice Department. DOJ Bitcoin transactions. Source: Screenshot via Blockchain.com Initially, approximately 9,825 of the Bitcoin (BTC) associated with the Silk Road seizure moved in a pair of transactions sent to three addresses at around 1:00 pm UTC. The bulk of the coins — 8,200 BTC worth n early $250 million as of the time of this article’s publication — were sent to a single address, which subsequently split the total amount across 101...

After the European Central Bank released a blog post on the shortcomings of Bitcoin, the crypto community on Twitter took to the comments to defend the cryptocurrency. In light of the recent FTX collapse and liquidity scandal, regulators in the European Union have joined other global lawmakers in a push for more clear guidelines and regulations on cryptos. The European Central Bank (ECB) released a blog post titled “Bitcoin’s last stand” on Nov. 30, which summarized the financial career of Bitcoin (BTC) amid current price fluctuations. However, instead of outlining the entire picture, which would include both up and downs of the cryptocurrency’s lifespan thus far, it only portrayed its shortcomings. Written by Ulrich Bindseil and Jürgen Schaaf, the director general and advisor of the ECB, the piece says the digital currency is on “the road to irrelevance.” It also claimed that BTC is hardly used for legal transactions and that the regulatory attention it is currently receiving from ...