Crypto Daily – The U.S. Department of Justice (DOJ) has secured legal clearance to sell approximately $6.5 billion worth of confiscated from assets associated with the Silk Road marketplace. This decision resolves a prolonged legal battle over the ownership of the seized cryptocurrency.
Federal Court Ruling on Liquidation
On December 30, a federal judge approved the DOJ’s request to liquidate the seized Bitcoin. The ruling came despite objections from Battle Born Investments, a claimant through a bankruptcy estate, which sought to delay the sale. Battle Born also attempted to uncover the identity of “Individual X,” who initially surrendered the Bitcoin, through a Freedom of Information Act (FOIA) request. However, the request was denied.
Battle Born’s legal counsel criticized the DOJ, alleging “procedural trickery” in the use of civil asset forfeiture to sidestep scrutiny. The DOJ, in its defense, cited Bitcoin’s price volatility as a reason for the expedited…
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