The US authorities plans to liquidate greater than 41,000 Bitcoin seized as a part of the trial of Silk Street creator Ross Ulbricht.
A March 31 submitting within the U.S. District Courtroom for the Southern District of New York relating to the case in opposition to James Zhong stated U.S. authorities companies have begun liquidating roughly 51,352 Bitcoin (BTC) held within the Case Ulbricht had been confiscated. In line with the submitting, on March 14, officers bought about 9,861 BTC for greater than $215 million, leaving about 41,491 BTC.
“The federal authorities understands [the Bitcoin] is predicted to be liquidated in 4 extra batches over the course of this calendar 12 months," the court docket filings stated.
That is an evolving story and extra info will probably be added because it turns into out there.