Bitcoin
US Government Wallets Transfer Over 17,000 Bitcoin to Coinbase Prime
On-chain data shows wallets linked to US government seizures transferred substantial bitcoin holdings to Coinbase Prime, though no sale has been confirmed.
Wallets attributed to US government seizures moved up to 17,733 Bitcoin, worth approximately $1.48 billion, to Coinbase Prime over a three-day period ending October 9. The transfer coincided with market volatility that sent bitcoin to its monthly low before a recovery, triggering over $1 billion in leveraged position liquidations.
On-chain figures vary across tracking methodologies. A TokenPost analysis identified 17,733 BTC alongside wrapped bitcoin balances ranging between 50 and 750 WBTC moving to the platform. A separate count focusing on addresses tied to the Bitfinex hack seizure tracked 12,267 BTC, valued at about $1.01 billion. Blockchain analytics firms note that government wallet tags are based on probabilistic transaction tracing and court filings rather than official public ledgers.
The seized funds are administered by the US Marshals Service, which uses Coinbase Prime for custody and execution services. The report emphasizes that transfers to institutional custodian accounts do not necessarily indicate open-market sales, as such deposits frequently reflect internal reallocations, auction preparations, or administrative custody changes.
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