U.S. government moves $288 million in seized bitcoin, ether to Coinbase Prime
The U.S. government has transferred $288 million in seized bitcoin and ether to Coinbase Prime. While these movements often precede sales, officials have not confirmed a liquidation, and the transfers represent only a small fraction of the government's total crypto holdings.
Why it matters
The movement of large government-seized assets impacts market sentiment and raises questions about the enforcement of the Strategic Bitcoin Reserve policy.
Wallets tied to the government moved about $288 million in seized bitcoin and ether onto Coinbase Prime over roughly half a day on Monday, blockchain data from Arkham shows. The ether went direct, while the bitcoin took a detour through fresh intermediary wallets first.
The article reports on blockchain data and government actions without taking a political stance on the policy.
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