US government moves $770M seized Bitcoin to Coinbase Prime
Image: CointelegraphThe US government transferred 9,261 Bitcoin worth roughly $770 million to Coinbase Prime over two days. Half of the transferred BTC came from Bitfinex hack recoveries, with additional funds from known Binance-related seizures. 2,456 BTC originated from wallets not previously labeled as government holdings, which Galaxy Research says may represent new law enforcement seizures. Coinbase Prime has served as the US Marshals Service's custody provider for seized crypto since 2024. Transfers to the platform do not confirm a sale.
Key points
- The US government moved 9,261 BTC worth ~$770M to Coinbase Prime over two days
- Half the transferred BTC came from Bitfinex hack recoveries, with some from known Binance seizures
- 2,456 BTC came from wallets not previously labeled as government holdings, possibly new law enforcement seizures
- Coinbase Prime has been the US Marshals Service's custody provider for seized crypto since 2024
Why it matters
The transfer highlights the US government's ongoing management of seized crypto assets, with Coinbase Prime serving as the official custody provider for federal forfeiture holdings since 2024.
What's unclear
Official confirmation of the 2,456 BTC's origin was not provided by US government agencies at time of publication
No official notice of any planned sale of the transferred Bitcoin had been released at time of writing
Price context · BTC
At publication
$82,369.00
Now
$82,059.00
Change since
−0.38%
7 days · dashed line = publication
Sources · 2 publishers
Crypto.news
Tier 2
U.S. government sends $770M BTC to Coinbase, why now?
Coverage timeline
- First reported by Cointelegraph
- Confirmed by Crypto.news
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 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
