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The United States government has finally received the go-ahead to liquidate a massive haul of Bitcoins worth $6.5 billion, following a ruling by Chief US District Judge Richard Seeborg on December 30th. The sale is expected to be carried out by the US Marshals service, potentially through Coinbase, which could have caused a significant dent in the market.
The Bitcoins being sold were originally seized during the shutdown of the notorious darknet marketplace Silk Road in 2013 and subsequent arrest of its creator Ross Ulbricht. In 2020, the government seized an additional 69,370 Bitcoins from “Individual X,” who had stolen them from Silk Road and returned them.
Battle Born Investments, a company that purchased bankruptcy claims related to Silk Road, had been fighting the sale. However, Judge Seeborg dismissed their claim, affirming the government’s control over the assets.
Source: fullycrypto.com
