The US Supreme Courtroom has refused to listen to Battle Born Investments’ case relating to possession of 69,370 Bitcoin that the US authorities had seized from the darkish net market Silk Highway.
Battle Born Investments had requested for a evaluate for the earlier judgements on the case claiming that it had bought rights to the seized Bitcoin now value $4.38 billion via a chapter property.
After SC refused to listen to the case, the US authorities’s civil forfeiture motion which legally permits the federal government to to grab property related to prison activity- is now extra prone to succeed, paving the best way for the sale of the Bitcoin. On July 29, the US authorities had already transferred round $2 billion value of the Silk Highway-linked Bitcoin to Marshals Service, which makes use of Coinbase Prime to custody seized cryptocurrencies.
Battle Born beforehand didn’t persuade a district courtroom in 2022 and an appeals courtroom in 2023 that it had acquired the BTC via a chapter declare after Silk Highway shut down in 2013. A San Francisco appellate courtroom choose mentioned in a listening to that Battle Born didn’t have a legitimate declare to the Bitcoin haul.
It was Ross Ulbricht who began the Silk Highway in 2011 and he’s presently serving a life sentence for conspiring to commit cash laundering and distributing narcotics, amongst different expenses.
Additionally Learn: U.S. Authorities’s Crypto Holdings: Every thing You Should Know
