NYDIG revealed a massive $1.26 billion off-exchange sale of BlackRock's IBIT Bitcoin ETF, with the seller accepting a $29.5 million discount for an immediate exit. Concurrently, a New York judge froze proceedings involving nearly 40,000 dormant Bitcoin wallets holding approximately 3.8 million BTC. A related ownership lawsuit was stayed until July, as legal arguments emerge claiming that state lost-and-found statutes cannot be applied to crypto assets controlled by private keys.
A New York court stayed proceedings to review a brief challenging the use of lost-and-found statutes to claim private key-controlled crypto assets.
Read the full storyA New York judge froze proceedings to seize 3.8 million BTC after a legal challenge argued that dormant wallets should not be classified as abandoned assets.
NYDIG revealed a $1.26 billion off-exchange sale of BlackRock's IBIT ETF at a $29.5 million discount, signaling urgent institutional liquidation.