Coinbase Prime handles $452 million in crypto as whales withdraw and US government deposits assets

Large Ethereum investors moved 89,396 ETH—worth about $164.9 million—from Coinbase Prime between July 15 and July 17, 2026, signalling strong long‑term confidence in the cryptocurrency. The withdrawals were carried out by several newly created wallets and included notable participants such as investment firm Abraxas Capital and trader Arthur Hayes.

In a separate development, U.S. government wallets transferred roughly $288 million in seized Bitcoin and Ethereum to Coinbase Prime on a Monday. The assets stemmed from criminal forfeiture cases, including funds linked to darknet dealer Ryan Farace and the defunct exchange BTC‑e, as well as other government‑held crypto holdings. Market observers note that both the sizable outflows by whales and the inbound government deposits could influence liquidity and price dynamics on the exchange platform.