The US government transfers cryptocurrency from government-labeled wallets to Coinbase Prime deposit addresses, according to blockchain tracking data reported by multiple outlets. Cointelegraph says 9,261 bitcoin (about $770 million) are moved to Coinbase Prime, including 2,456 BTC described as newly discovered funds linked to federal law enforcement seizures. Decrypt reports additional transfers involving bitcoin and BNB, noting 833.6 BTC sent to Coinbase Prime and 40,285 BNB shuffled through the same type of addresses.
CoinDesk similarly describes the moves as taking place Tuesday and says that while the amounts are large, a sale of the holdings is not confirmed. Decrypt adds that the government-controlled stash behind the activity is among the largest associated with any government wallet in Arkham rankings, but the outlets do not agree on a specific stated purpose for the transfers. None of the reports indicate that proceeds from a sale have been documented, and the activity is framed as a transfer of custody rather than a confirmed liquidation.
