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- U.S. Department of Justice to Liquidate $6.5B in Seized Silk Road Bitcoin
U.S. Department of Justice to Liquidate $6.5B in Seized Silk Road Bitcoin
News on the Blockchain
January 12, 2025
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News on the Blockchain, January 12th, 2025
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🌍 Daily Crypto Market Overview
Global Stats:
Cryptocurrencies: 2.4M+
Exchanges: 779
Market Cap: $3.29T (+0.52%)
24h Volume: $70.12B (-45.12%)
Bitcoin Dominance: 56.61% (-0.28%)
Ethereum Dominance: 11.85%
ETH Gas Price: 2.02 Gwei
Fear & Greed Index: 48 (Neutral)
🪙 Top 5 Cryptocurrencies by Market Cap:
Name | Price | 24h Change | Market Cap | 24h Volume |
|---|---|---|---|---|
Bitcoin (BTC) | $93,980.88 | -0.23% | $1.86T | $17.52B |
Ethereum (ETH) | $3,236.55 | +0.16% | $390.06B | $11.05B |
Tether (USDT) | $0.9995 | -0.02% | $137.39B | $55.11B |
BNB (BNB) | $692.99 | -0.17% | $99.79B | $1.29B |
Solana (SOL) | $186.15 | -0.22% | $90.14B | $1.92B |
💹 Market Highlights:
Total DeFi Volume: $5.91B (8.43% of 24h market volume)
Stablecoins Volume: $62.46B (89.08% of 24h market volume)
Coin with Highest % Change: Mystery (MYSTERY) +190.05%
🚀 Trending on DexScan:
AzuraAI/SOL – $0.001648 (+2,888%)
CWH/SOL – $0.02582 (+3,139%)
JUJU/SOL – $0.001446 (+1,800%)
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thguy/SOL – $0.0009023 (+591%)
📈 Preview On Today’s News:
- U.S. Department of Justice to Liquidate $6.5B in Seized Silk Road Bitcoin
- Mastercard Unveils Crypto Credential to Simplify Blockchain Transactions
- El Salvador's Bitcoin Boost Sparks Tourism and Economic Growth
Keep reading below for more!
Today’s News:
1)
U.S. Department of Justice to Liquidate $6.5B in Seized Silk Road Bitcoin
The U.S. Department of Justice (DOJ) has been authorized to sell 69,370 Bitcoin, valued at over $6.5 billion, seized from the Silk Road darknet marketplace following a court ruling that nullified Battle Born Investments' claim to the cryptocurrency. The decision comes amid concerns over market volatility, as the DOJ emphasizes the urgency of the sale to mitigate risks from fluctuating Bitcoin prices, while experts note that the crypto market’s capacity to handle large transactions and political figures like El Salvador’s President Nayib Bukele suggest potential opportunities for investors despite fears of a value drop.
The DOJ will liquidate 69,370 Bitcoin ($6.5B) seized from Silk Road after a court ruling invalidated ownership claims by Battle Born Investments.
Amid market concerns over Bitcoin volatility, experts believe the sale can be executed rapidly without significant disruption, potentially offering investment opportunities.
2)
Mastercard Unveils Crypto Credential to Simplify Blockchain Transactions
Mastercard has launched its Crypto Credential solution in the UAE and Kazakhstan as part of its strategy to simplify and secure cryptocurrency transfers by replacing complex blockchain addresses with easy-to-use aliases. This initiative, which builds on previous global rollouts including in Latin America and Europe, is designed to enhance both user experience and transaction safety by verifying identities and ensuring accurate wallet transfers. Collaborations with exchanges like ATAIX Eurasia, Intebix, and CoinMENA, along with participation from digital asset provider Fuze and other platforms, emphasize Mastercard’s commitment to driving innovation in digital payments across the EEMEA region.
Simplified Transactions: The Crypto Credential solution enables users to send and receive digital assets using simple aliases, greatly reducing the complexity of blockchain addresses.
Enhanced Security & Global Rollout: Initially launched in 2023, the service verifies user identities and ensures secure transactions, with recent expansions in the UAE, Kazakhstan, Latin America, and Europe, underlining Mastercard's global commitment to innovative crypto solutions.
3)
El Salvador's Bitcoin Boost Sparks Tourism and Economic Growth
El Salvador is experiencing a notable tourism surge as a result of its Bitcoin adoption, recording 3.9 million tourists in 2024—a 22% increase from the previous year and a near doubling compared to 2013–2016—with improvements in security, including an annual drop in homicides from 6,656 in 2015 to 114 in 2024, catalyzing growth in eco-tourism and attracting more U.S.-based visitors. Concurrently, while the government continues to buy one Bitcoin daily and has accumulated 6,024 BTC (approximately $569 million), a recent $1.4 billion IMF loan agreement mandates that Bitcoin usage in the private sector remains voluntary and restricts public sector engagement, potentially tempering its broader integration into daily economic activities.
Tourism and Security Surge: In 2024, tourism in El Salvador soared to 3.9 million visitors—a 22% increase from the previous year—supported by significantly improved security, with annual homicides dropping from 6,656 in 2015 to 114 in 2024.
Bitcoin Integration and IMF Agreement: Under President Bukele, the country has boosted Bitcoin adoption by purchasing one Bitcoin daily and amassing a reserve of 6,024 BTC, although a recent IMF agreement limits the role of Bitcoin in the public sector and voluntary usage in the private sector, potentially slowing its integration into the broader economy.
Disclaimer:
The information provided in this newsletter is based on our data findings and opinions. It is intended for informational purposes only and should not be considered financial advice. Cryptocurrency investments carry significant risk, and it is important to conduct your own research and consult with a qualified financial advisor before making any investment decisions. We are not responsible for any financial losses or gains you may incur as a result of using this information.
