The FBI initially seized 26,000 bitcoins from accounts on Silk Road, worth approximately $3.6 million at the time. An FBI spokesperson said that the agency would hold the bitcoins until Ulbricht's trial finished, after which the bitcoins would be liquidated.[39] In October 2013, the FBI reported that it had seized 144,000 bitcoins, worth $28.5 million, and that the bitcoins belonged to Ulbricht.[40] On 27 June 2014, the U.S. Marshals Service sold 29,657 bitcoins in 10 blocks in an online auction, estimated to be worth $18 million at current rates and only about a quarter of the seized bitcoins. Another 144,342 bitcoins were kept which had been found on Ulbricht's computer, roughly $87 million.[41] Tim Draper bought the bitcoins at the auction with an estimated worth of $17 million, to lend them to a bitcoin start-up called Vaurum which is working in developing economies of emerging markets.[42]