Galaxy Digital Head of Research reveals updates on the Satoshi Nakamoto Bitcoin lawsuit, amicus brief prevents default judgment

Alex Thorn, Head of Research at Galaxy Digital, disclosed progress in a lawsuit where two Wyoming-based companies are attempting to classify 39,069 dormant Bitcoin addresses as abandoned property. On May 29, attorney Ian R. Cohen submitted an amicus curiae brief, arguing that dormancy does not equate to abandonment. On June 4, Judge Kathy King issued a stay order, preventing the plaintiffs from obtaining ownership through a default judgment. On June 19, Ian R. Cohen countered that the plaintiffs set the value at $10 to circumvent the threshold, and on-chain data shows that 52 addresses moved 34,335 BTC, with 29 addresses transferring 12,302 BTC after being served, undermining the premise of abandoned assets.