New York-based bitcoin exchange itBit has revealed it successfully secured five auction blocks as part of last week's bitcoin auction overseen by the US Marshals Service (USMS).
The event saw the government agency oversee the sale of 44,000 BTC (valued at $16.6m at press time) on the open market, with each auction block consisting of 2,000 BTC or more.
Bobby Cho, Director of Trading at itBit, told CoinDesk:
"We confirm that itBit's auction bid, organized on behalf of a syndicate of our exchange and OTC trading clients, won five blocks in the final USMS auction."
The exchange had originally declined to comment on its involvement in the auction, which drew a total of 11 bidders. Still, the announcement marks the second time itBit has secured bitcoins as part of a USMS auction, following its purchase of 3,000 BTC at an auction in March.
The USMS told CoinDesk today that the earliest participants in last week’s public auction could announce they successfully or unsuccessfully secured bitcoins as part of the sale would be tomorrow, stating that undisclosed events had caused transactions to be delayed.
However, at press time, details were emerging about the auction, the fourth in a series that has seen the sale of roughly 175,000 BTC confiscated during the investigation into online black market Silk Road.
Digital Currency Group subsidiary Genesis Trading, for example, informed CoinDesk that it did not successfully secure any bitcoins as part of the sale. Binary Financial, another publicly identified participant, did not respond to requests for further information as of press time.
In the meantime, Reddit users have already begun to speculate as to the results, with evidence emerging that as many as three participants successfully purchased bitcoins as part of the sale.
Auction image via Shutterstock
AuctionsSilk RoadUS Marshals
Australia Warns of Fake 'Tax Collectors' Demanding Bitcoin
The Australian Taxation Office (ATO) issued a warning about would-be scammers trying to con people out of their cryptocurrency.
Since late last year, scammers have been calling Australians and impe
Bitcoin briefly falls below $8,000 after Google says it will ban cryptocurrency ads
Bitcoin prices briefly fell below $8,000 on Wednesday following news that Google, the world's largest online ad provider, plans to ban cryptocurrency advertising. Facebook, the second largest
Crypto Is a 'Crock'? Twitter Reacts to House ICO Hearing
Despite the overall measured tone among lawmakers at Wednesday's House subcommittee hearing on initial coin offerings, a few members of the panel made inflammatory statements.
Social media users re
UK Crypto Exchange to Launch Bitcoin Futures Contracts
A British cryptocurrency exchange is planning to enter the bitcoin futures market.
CoinfloorEX, a London-based exchange founded in 2013, announced Wednesday that it would launch bitcoin futures con
Congressional hearing on cryptocurrencies devolves into bitcoin bash fest
A House Financial Services subcommittee met Wednesday in what was supposed to be an overview of the cryptocurrency landscape. The two-hour hearing raised more questions than answers, and shined a
Square closes near all-time high after analyst compares stock to early days of Amazon
Shares of Square hit a new all-time intraday high Wednesday, jumping more than 5 percent after an analyst report compared the stock to 'Amazon in its early days.' Shares closed at $54.60
Bitcoin Price Sheds $800 In Drop to 1-Month Low
Bitcoin hit a one-month low on Wednesday as its price slipped below $8,300 during afternoon trading.
CoinDesk's Bitcoin Price Index (BPI) had fallen to as low as $8,287.98 as of press time, represe
Brazilian Officials Caught Using Bitcoin in $22 Million Scam
Police officials in Rio de Janerio have uncovered a money laundering scheme in which state officials siphoned off money intended for prison supplies, using bitcoin to exchange some of the proceeds.