The US Marshals Service is almost certainly selling Bitcoin seized from the Silk Road enforcement operation 🐳
The USMS has been sending BTC to the custodial address required by the terms of the service agreement with Coinbase. Given that the agreement requires USMS assets to remain completely segregated, whenever a final transfer to Coinbase Prime (or other mixing platform address) occurs, it can be determined that the USMS has sold or is about to sell. Formal confirmation will be confirmed at the latest in the Department of Justice's report on the asset forfeiture program for fiscal year 2024.
According to a fragment of the Crypto Services Agreement RFP, the custodian shall ensure that each government cryptocurrency asset is isolated by its wallet address. The custodian shall ensure that the cryptocurrency wallet addresses provided to the government are not reused and/or provided to other agencies, institutions and/or customers. The custodian shall ensure that the government's cryptocurrency inventory is never mixed with any other wallets or addresses belonging to different owners.
On July 2, Coinbase announced that the U.S. Marshals Service (USMS), the U.S. Department of Justice’s asset forfeiture agency, selected Coinbase Prime to provide custody and advanced trading services for its “Class I” (large assets) digital assets after a comprehensive process. These assets are centrally managed by USMS to support federal law enforcement.