A wallet labeled as belonging to the U.S. moved 833.6 BTC, worth about $71.6 million, to a Coinbase Prime deposit address, according to monitoring cited by Odaily. Arkham data linked 568.7 BTC in the transfer to seized HashFlare assets and another 264.9 BTC to funds tied to the Bitfinex hack. The report said the movement to a Prime deposit address does not by itself confirm a sale. Coinbase also provides custody services for crypto held by government entities. Odaily noted that a similar transfer valued at $288 million took place in July. The transaction falls into a category closely watched by the market because wallets associated with government holdings can trigger speculation over potential liquidation, even when no sale has been confirmed. In this case, the available data only shows the transfer destination and the on-chain labels cited in the report.
A wallet labeled as belonging to the U.S. transferred 833.6 BTC, worth about $71.6 million, to a Coinbase Prime deposit address, according to Bitcoin News monitoring cited by Odaily.
Breakdown of the transferred BTC
Arkham data showed that 568.7 BTC in the transaction was linked to seized HashFlare assets, while 264.9 BTC was tied to funds from the Bitfinex hack.
Transfer does not confirm a sale
The report said a transfer to a Coinbase Prime deposit address does not mean the BTC has been sold. Coinbase also provides custody services for cryptocurrencies held by government entities. A similar transfer worth $288 million was reported in July.
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