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RE: Bittrex exchange transferred 14.5m STEEM to Steemit, then Steemit transferred 21.5m STEEM to Binance exchange.
Most of the STEEM ownership was not disputed. Steemit was the only claimant, so a judge released it to them. That amount was 14 or 15 million STEEM. For the rest (still being litigated), bittrex submitted an interpleader deposit, so I presume that bittrex is now free to sell the rest of the STEEM or hold it, as they choose.
Oh.. what's hapenning?
I'm not a lawyer, but this is the way I understand it.
A bunch of the people who had their wallets dumped into the community321 account during HF23 are suing Steemit. It started back in 2020 with a suit against Bittrex and anonymous others, but Steemit claimed the STEEM and got added to the suit later.
A month or two ago, it was determined that 14.5 million STEEM had only Steemit as a claimant, so that was released. I think that's what moved from Bittrex to Steemit and then on to Binance the other day.
The remaining 8 or 9 million Steem were claimed by both Steemit and the Hive people. Bittrex made an "interpleader deposit" in order to get themselves out of the middle of the dispute. I gather that this means they put an equivalent amount of USD into a bank account. So - if I understand correctly - Bittrex basically owns that 8 or 9 million Steem now.
On the legal front, Bittrex has been removed and the law suit is proceeding against Steemit now. Steemit has a response due on May 27, but at this point I think they're arguing over dollars, not STEEM.
Thank you for your kind explanation. I fully understand this situation! @rmlaps