The US Marshals Service (USMS) has begun its auction of 44,341 BTC seized from convicted Silk Road operator Ross Ulbricht, marking the final sale in a process that began in June 2014.
Today's auction, the fourth held by the agency since it auctioned 30,000 BTC in June 2014, is running from 8am to 2pm local time.
According to the USMS, the event features 22 auction blocks. The first 21 blocks will each consist of 2,000 BTC up for sale, with the final tranche consisting of approximately 2,341 BTC.
Registration for the auction began on 19th October and ran through 12 pm EDT on 2nd November. Confirmed participants include the Digital Currency Group subsidiary Genesis Trading and bitcoin hedge fund Binary Financial.
Image via Wikipedia
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.