This firm wants to help the US feds in selling $1 billion of seized Bitcoin

On-chain analysis and security company Chainalysis announced the launch of its "Asset realization program" to help government agencies and insolvency practitioners handle, store, realize, and monitor seized assets, as per a release earlier this week.

The program was launched just days after US authorities seized over $1 billion in Bitcoin-belonging to the now-defunct darknet marketplace Silk Road-in one of the biggest cryptocurrency seizures to date.

The feds did not magically happen to come over Silk Road's Bitcoin.

Chainalysis' tools and investigative assistance services were heavily involved in helping law authorities to identify and investigate the cryptocurrency wallets used by the marketplace's owners, which involved funds used or intended to be used to facilitate narcotics sales on the darknet marketplace Silk Road.Following the US gov's record-breaking $1B seizure last week, we're announcing the launch of an asset realization program to help gov agencies & insolvency practitioners handle, store, realize, and monitor seized assets: https://t.

"As law enforcement becomes more and more sophisticated in investigating illegal activity involving cryptocurrencies, including the recovery of illicit proceeds, the need for digital asset realization services is growing," the firm observed in its release.

"As our government partners become more successful in rooting out bad actors, assisting them with asset recovery and realization is a natural next step."

In short, the US government could soon sell the Bitcoin it holdsfacilitated by Chainalysis.

Asset Reality, which manages and realizes confiscated assets for public and private sector clients around the world, will partner with Chainalysis to help determine how to sell seized funds.

The team consists of legal and law enforcement practitioners who provide strategic advisory services and training regarding cryptocurrency and other complex assets to law enforcement agencies internationally.

Some observers suggested that the US government should not sell the Bitcoin they seized at all.