Tim Draper-Linked Wallet Deposits 1,000 Bitcoin to CEX Prime Custody Service

A wallet linked to venture capitalist Tim Draper deposited 1,000 bitcoin into a CEX (centralized exchange) prime custody service on July 3. According to BlockBeats On-chain Detection, the transfer was flagged by Lookonchain, which said the wallet appears to be associated with bitcoin acquired at a cost as low as $632 per coin. Draper is known for purchasing about 29,656 bitcoin in a 2014 U.S. Marshals Service auction involving assets seized from Silk Road. The reported winning bid at the time was about $632 per bitcoin, for a total of about $18.7 million. The 29,656 bitcoin were valued at about $3.74 billion at their peak and are now valued at about $1.82 billion, the report said.