$BTC 61,896
that's what a tianjin court just accepted for confiscation on october 13
but the coins aren't in china
they've been under uk control since the qian zhimin case
the uk high court only ruled that chinese law decides who can claim them
it didn't hand the coins to anyone
the filing also covers bitcoin cash, xrp, dogecoin, cash and jewelry
but bitcoin is the big piece
so "5b dump incoming" is a lazy read
this is a restitution case first
102,000+ investors, 40.38b yuan raised between 2014 and 2017
and a 6-month window is now open for victims to file claims
the better question isn't when they sell
it's who ends up holding these coins
victims, the state, or the market
and ~5b is big enough to move price if it ever gets sold fast
nobody knows how or when this plays out
what's your bet?
that's what a tianjin court just accepted for confiscation on october 13
but the coins aren't in china
they've been under uk control since the qian zhimin case
the uk high court only ruled that chinese law decides who can claim them
it didn't hand the coins to anyone
the filing also covers bitcoin cash, xrp, dogecoin, cash and jewelry
but bitcoin is the big piece
so "5b dump incoming" is a lazy read
this is a restitution case first
102,000+ investors, 40.38b yuan raised between 2014 and 2017
and a 6-month window is now open for victims to file claims
the better question isn't when they sell
it's who ends up holding these coins
victims, the state, or the market
and ~5b is big enough to move price if it ever gets sold fast
nobody knows how or when this plays out
what's your bet?
