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Supreme Court won’t stop sale of 69,370 Silk Road bitcoins The nine-month US Supreme Court term began this month, and it’s already impacting the crypto industry. Today, in an announcement of the lawsuits that the justices have agreed to hear during this term, the highest US court declined to hear an appeal regarding 69,370 bitcoins associated with the Silk Road. With the justice’s denial to hear an appeal of Battle Born Investments, et al. v. United States , a 2022 ruling from the US District Court, Northern District of California will probably prevail. Because the lower court ordered the US government to “dispose of the forfeited defendant property according to law,” the US Marshals or another agency might soon have court instructions for liquidating a massive seizure of bitcoin once stolen from the Silk Road. In short, the Supreme Court’s denial of certiorari — a Supreme Court appeal — effectively removes a hold on the sale of $4.4 billion worth of bitcoin . ...

Neobank Dave will pay $71 million to FTX liquidators by acquiring a convertible promissory note from FTX Ventures, valued at $100 million.  FTX Ventures, a venture capital subsidiary linked to the now-bankrupt exchange FTX, originally issued this note. Under the terms of this new arrangement, Dave has agreed to secure the note for $71 million, a substantial discount.  The completion of this transaction is subject to the approval of a bankruptcy court, with a critical hearing slated for Jan. 25. This development follows a strategic alliance formed in March 2022 between Dave and FTX Ventures. The initial partnership entailed a $100 million investment from FTX Ventures in Dave through the aforementioned note, alongside collaborative plans to develop cryptocurrency-related offerings.  Dave Announces Repurchase of $100 million Convertible Note from FTX for $71 million FTX Debtors filed a motion to approve the sale pic.twitter.com/McK608rCQH — Sunil (FTX Creditor Champion) (@...