Malaya Ruiz
This Thursday, our top headlines cover key discussions on the impact of certain developments in the crypto space on regulations, political influences, and legislative efforts.
DOJ Cleared to Liquidate $6.5 Billion in Seized Bitcoin from Silk Road
The U.S. Department of Justice (DOJ) has been approved to sell about 69,370 Bitcoin, worth $6.5 billion, seized from the Silk Road darknet marketplace. Chief U.S. District Judge Richard Seeborg denied a motion to halt the sale on December 30, 2024. Battle Born Investments, which claimed ownership of the Bitcoin, failed to block the sale after appealing in October 2024. The U.S. Marshals Service will oversee the sale, potentially making it one of the largest government crypto liquidations.
Related: Strategy Sells $1.4B in Stock to Cover Bills Amid Bitcoin Slump
Trial Date Set for Terraform Labs’ Do Kwon as Evidence Review Continues
The trial for Do Kwon, former CEO of Terraform Labs, is set for January 26, 2026. Judge Paul A. Engelmayer made this decision to accommodate the review of six terabytes of discovery data. Prosecutors have encountered delays due to the need to decrypt phones and translate documents. They intend to seek search warrants for Kwon’s email and X account while also examining trading records from exchanges.
Ripple Executives Meet Trump Amid Ongoing SEC Legal Battle
Ripple’s CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty met with President-elect Donald Trump at Mar-a-Lago. This has led to speculation about discussions on cryptocurrency regulations. It is a crucial time for Ripple as they face regulatory changes and continue their legal battle with the SEC. The timing coincides with an important deadline, as the SEC must file its appeal brief by January 15.
Oklahoma Senator Proposes Bitcoin Freedom Act to Combat Inflation
Oklahoma State Senator Dusty Deevers introduced the Bitcoin Freedom Act to address inflation concerns. The proposed SB325 bill allows workers to receive wages in Bitcoin and enables businesses to accept the cryptocurrency. Senator Deevers believes this legislation will position Oklahoma as a national leader in financial technology. His post received positive feedback from the crypto community; many supporters have expressed optimism about the senator’s proposal.
Related: The History of Altcoins: How Bitcoin’s Rivals Changed the Crypto Game
Read more
- US Judge Orders Frank Ahlgren to Surrender Keys in $124M Case
- Shytoshi Kusama Reveals How Shiba Inu Is Evolving into the Shib Network State
- The Role of TREAT in Unlocking Web3’s Potential
MALAYA RUIZ
Malaya is dedicated to helping individuals share meaningful narratives about crypto, blockchain, and future tech. Her extensive experience in editing, copywriting, and publishing gives her a deep understanding of the craft of storytelling and collaboration, which she channels through Shiba Inu's official publications. Malaya owns two dogs and therefore has a special admiration for the Shiba Inu breed.
