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Bitcoin Policy Institute Files Intervention Motion in $293B Wallet Case on July 10 as July 14 Hearing Nears

GateNews
Enforcement ActionsRegulation & Policy
BTC0.82%
According to Bitcoin.com News, the Bitcoin Policy Institute filed an intervention motion on July 10, 2026, in the $293 billion wallet case before New York County Supreme Court Justice Kathy J. King. BPI, which holds a portion of its treasury in long-term self-custody bitcoin reserves, argues it faces potential claims under New York's lost property statute if plaintiffs succeed in claiming ownership of 39,069 dormant bitcoin addresses. BPI's motion, represented by White & Case partner Rachel Rodman, raises fifteen affirmative defenses, including that bitcoin addresses are not property under New York law and the court lacks jurisdiction over anonymous global wallet holders. Justice King is scheduled to hold a hearing on July 14 at 10:30 a.m. covering BPI's intervention request, attorney Ian Cohen's amicus application, and a motion to dismiss filed by pseudonymous wallet holder John Doe 33.
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