Silk Road Founder Arrested While Bitcoins Plummet

Date: February 10, 2020 | Category: play indian dreaming slot

Silk Road Founder Arrested While Bitcoins Plummet

Bitcoins are in the news, between the shut down of Silk Road,a plummet in exchange rates, and a new site that is live-streaming.

It’s been quite a week for Bitcoins into the news; a triple whammy, actually.

First, there was the arrest by the FBI of Silk Road’s founder known online only by their handle ‘Dread Pirate Roberts’, but apparently known to the feds a little more intimately as Ross William Ulbricht- as well as the seizure and shut down of this Silk Road site itself. Silk path had been an exclusively Bitcoin gambling site, well-known to many as an open market for illegal drugs and much more; the site’s just under a million registered users were often money launderers, based on the arrest warrant.

‘Based on my training and experience, Silk Road has emerged as the most sophisticated and extensive marketplace that is criminal the web today,’ FBI Special Agent Christopher Tarbell noted within the complaint. Tarbell added that into the past 2 1/2 years, Silk Road generated some $1.3 billion worth of comparable Bitcoin trades and netted $85 million in commissions for itself, often for things as macabre as hiring hitmen, searching for computer hackers or purchasing illegal tools.

Major Rate Volatility Ensues

Meanwhile only a few days after the shut down of the site by the feds and the arrest of Ulbricht Bitcoins themselves went through some Cat-5 volatility, once the rates for the digital currency dropped from $139 per Bitcoin to $109.71 per Bitcoin in only under three hours.

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