Multiple outlets report that the U.S. government moves seized bitcoin and ether totaling roughly $288–$297 million to Coinbase Prime, a custody service operated by Coinbase. The transfers are described as deposits into the government’s custodian accounts rather than confirmations of an imminent sale. Cointelegraph and Decrypt note that the transfers have revived questions about statements made by President Donald Trump regarding a “no-sell” Bitcoin reserve pledge, although the reported Coinbase Prime deposits do not, by themselves, indicate that the assets will be liquidated.
CoinDesk adds that the coins appear to move through newly created government wallets before arriving at the exchange/custodian. Decrypt and Cointelegraph characterize the activity as part of the custody process, not necessarily an end to hold. The Block cites on-chain analytics from Arkham, including an estimate that U.S. government wallets hold a large crypto portfolio valued over $20 billion, including 324,552 BTC.
Overall, sources agree on the transfer to Coinbase Prime and the relevance to public statements, while stopping short of asserting that the government is selling the seized assets.
