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US Government moves hundreds of millions in seized crypto to Coinbase Prime
The US government has moved significant quantities of cryptocurrency, including Bitcoin (BTC), wrapped Bitcoin (WBTC), and Tether (USDT), to Coinbase Prime. Blockchain analytics firms Arkham Intelligence and Galaxy Research report that the transfers, totaling hundreds of millions of dollars, occurred over several days in October.
A substantial portion of these assets is linked to high-profile criminal seizures, including funds from the 2016 Bitfinex hack and assets associated with Alameda Research and FTX. Notably, Galaxy Research identified approximately 2,456 BTC that originated from previously unrecognized government wallets, suggesting a larger-than-expected cryptocurrency inventory held by federal authorities.
The movement has sparked market speculation regarding potential liquidations. However, analysts note that transfers to Coinbase Prime—the institutional platform used by the US Marshals Service—could be for custody, administrative purposes, or preparing for victim restitution rather than immediate sale. This scrutiny is heightened by a 2025 executive order establishing a Strategic Bitcoin Reserve, which mandates that Bitcoin held in the reserve shall not be sold, though exceptions exist for legal mandates and victim compensation.
Entities
Alameda Research · Arkham Intelligence · Bitfinex · Coinbase Prime · FTX · U.S. Marshals · U.S. government · US Marshals Service · US government
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] A significant portion of the transferred assets is linked to the 2016 Bitfinex hack. coin-turk.com · crypto-times.jp · cryptobriefing.com · cryptoslate.com
- [● 2 SOURCES] The US government transferred 9,261 BTC to Coinbase Prime over a two-day period. news.bitcoin.com · tdpelmedia.com
- [● 4 SOURCES] The transferred assets included Bitcoin, wrapped Bitcoin (WBTC), and Tether (USDT). coin-turk.com · crypto-times.jp · cryptobriefing.com · cryptoslate.com
- [● 2 SOURCES] Approximately 2,456 BTC in the transfer originated from previously unidentified government wallets. news.bitcoin.com · tdpelmedia.com
- [● 4 SOURCES] A 2025 executive order prohibits the sale of Bitcoin held in the Strategic Bitcoin Reserve, with exceptions for legal requirements or victim restitution. www.nadanews.com · crypto-times.jp · cryptobriefing.com · cryptoslate.com