US Government Moves $103M in BTC and BNB to Coinbase Prime
Image: Crypto.newsOn October 7, U.S. government-linked wallets transferred 833.6 BTC worth $71.56 million and 40,285 BNB valued at $31.63 million, a combined $103 million. The BTC was sent to Coinbase Prime, while BNB passed through several addresses before reaching an unlabeled wallet. No federal agency had announced a sale of the transferred BTC by October 7. The U.S. Marshals Service selected Coinbase Prime in 2024 to manage large-cap digital assets from federal forfeiture programs.
Key points
- The 833.6 BTC was sent to Coinbase Prime, while BNB moved through multiple addresses to an unlabeled wallet.
- The US Marshals Service selected Coinbase Prime in 2024 to manage forfeited large-cap digital assets.
Why it matters
The transfer raises the possibility of liquidation of seized crypto assets, which could impact short-term market prices. Government crypto movements are closely watched by market participants for supply signals.
What's unclear
Whether the 833.6 BTC transferred to Coinbase Prime has been sold, as no sale was confirmed by October 7
Price context · BNB
At publication
$768.32
Now
$772.97
Change since
+0.61%
7 days · dashed line = publication
Sources · 4 publishers
Crypto.news
Tier 2
Why did the US government send $71M in Bitcoin to Coinbase Prime?
CoinCentral
Tier 3
US Government Moves Bitcoin From 2016 Bitfinex Hack Case to Coinbase – Here’s Why
Blockonomi
Tier 3
U.S. Government Moves $103M in BTC and BNB to Coinbase Prime, Drawing Scrutiny
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by Crypto.news
- CryptoVideos brief published
How this brief was made. Our system found this event in 4 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
