The US government has moved 9,261 Bitcoin, valued at about $770 million, to Coinbase Prime over the past two days, according to Cointelegraph. Galaxy Research said roughly half of the BTC came from funds recovered from the Bitfinex hackers, while another portion was tied to known Binance-related seizures. The firm also identified 2,456 BTC from previously undisclosed holdings that were sent to the government’s seizure address at Coinbase Prime and may reflect new federal law enforcement seizures. The transfers add to a pattern of onchain movements involving government-controlled wallets tied to earlier crypto exploit recoveries. Coinbase Prime has served as the custody provider for seized assets handled by the US Marshals Service since 2024. Past transfers from government-labeled wallets have triggered market speculation over possible sales, though such a move would run against President Donald Trump’s March 2025 executive order stating that seized Bitcoin should not be sold and instead should become part of the country’s Strategic Bitcoin Reserve. Cointelegraph said it had contacted the US Marshals Service and the Department of Justice for comment. The report also noted that in July, the US government moved $297 million in Bitcoin and Ether to Coinbase Prime from other major seizure cases.
The US government moved 9,261 Bitcoin worth about $770 million to Coinbase Prime over the past two days, according to Cointelegraph. The funds came from asset seizures linked to earlier cryptocurrency exploits.
9,261 BTC sent to Coinbase Prime
Galaxy Research said in a Thursday post on X that roughly half of the transferred Bitcoin came from funds recovered from the Bitfinex hackers, while another portion came from known Binance seizures.
Galaxy also said 2,456 BTC came from previously unknown holdings. Those coins were sent to the US government’s seizure address on Coinbase Prime and may represent new law enforcement seizures.
Onchain flows point to continued asset recovery
The onchain movements indicate that the US government is still recovering crypto assets tied to prior exploits. Coinbase Prime has been used by the US Marshals Service as the custody provider for seized assets since 2024, the report said.
Transfers revive liquidation questions
Previous movements from wallets labeled as belonging to the government have led to speculation about possible liquidations. A sale, however, would conflict with US President Donald Trump’s March 2025 executive order, which said seized Bitcoin should not be sold and should instead become part of the country’s Strategic Bitcoin Reserve.
Cointelegraph said it had contacted the US Marshals Service and the Department of Justice for comment on the latest transfers.
Similar transfer took place in July
In July, the US government moved $297 million in Bitcoin and Ether (ETH) to Coinbase Prime. Those funds also came from prominent US government crypto seizure cases, according to the report.
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