The US government has won final approval in the Northern District Court of California to clear the largest-ever federal seizure of cryptocurrencies, signaling the closure of a complex four-year legal battle over billions of bitcoins linked to the notorious Silk Road market.

Chief US District Judge Richard Seaborg rejected a motion to block the seizure of 69,370 bitcoins, allowing the Justice Department to sell $6.5 billion in assets, according to a report. Court document Submitted on December 30.

Judge Seaborg is known for his high-profile cases. It is recently Rejected arguments Google, within Alphabet, has appropriately disclosed how it tracks user activity. The tech giant now faces a possible trial in August.

It is not clear why the document related to the seized bitcoin appeared this week. The Justice Department declined a request for comment.

Emphasizes evolution Advance reporting It was October last year when it appeared that the US government was free to sell Bitcoin confiscated from a Silk Road wallet.

Decryption I checked with the court document after an initial report late Wednesday evening DB Newswhich quoted officials confirming the ruling.

Judgment alone does not guarantee immediate liquidation since federal asset forfeiture involves multiple administrative steps and potential appeal windows.

Portions of Bitcoin seized by the Department of Justice have already been sold in recent months. On December 3, 2024, the US government announced Move Nearly $2 Billion of Silk Road Bitcoin to Coinbase.

the government Maintains nursery order With Coinbase Prime through the US Marshals Service (USMS), a division of the Department of Justice.

Verify, cash in

The Justice Department's path to finally verifying Satoshi's Bitcoin stash has weathered several legal storms, including appeals to the Ninth Circuit and the Supreme Court.

It marks a decisive end to challenges brought by several claimants, including Battle Born Investments, which had argued ownership rights through bankruptcy proceedings involving an individual they believed to be the original owner.

The final draw depends on a Freedom of Information Act request seeking to unmask “Individual

Court documents from Case timeline It suggests that the seized cryptocurrencies originated from Silk Road, a dark web market that was shut down by federal authorities in 2013.

The Bitcoin cache represents what remains of the platform's illegal transactions in what could become one of the largest government cryptocurrency liquidations in history.

Trump time

The decision arrives at a politically charged moment for the government's cryptocurrency holdings.

President-elect Donald Trump told his bearer:Never sell your Bitcoin“At a cryptocurrency conference in Nashville in July last year, he also pledged to build a strategy.”Bitcoin stock."

The newly revealed documents also raise concerns about the handling of these assets, with Trump set to be sworn in in less than two weeks.

Modified by Sebastian Sinclair

Editor's note: Adds response from a Justice Department spokesperson, who declined further comment.