The United States government plans to liquidate more than 41,000 Bitcoin seized as part of the case against Silk Road creator Ross Ulbricht.
A March 31 filing with U.S. District Court for the Southern District of New York regarding the case against James Zhong said U.S. government authorities had begun liquidating roughly 51,352 Bitcoin (BTC) seized in the Ulbricht case. According to the filing, officials sold roughly 9,861 BTC for more than $215 million on March 14, leaving roughly 41,491 BTC.
“The Government understands [the Bitcoin] is expected to be liquidated in four more batches over the course of this calendar year,” said the court filing.
This is a developing story, and further information will be added as it becomes available.