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Why Did the US Government Send $71M in Bitcoin to Coinbase Prime?
Arkham said the transfer included 833.6 BTC and 40,285 BNB, and it raised questions about whether the assets were being prepared for sale.
- On Tuesday, government-linked wallets transferred $103 million in cryptocurrency, with more than $71 million in Bitcoin reaching Coinbase Prime deposit addresses, according to blockchain intelligence firm Arkham.
- On-Chain analyst EmberCN identified the transfer as 833.6 BTC worth $71.56 million and 40,285 BNB valued at $31.63 million, which moved through multiple addresses before reaching unlabeled destinations.
- President Donald Trump signed a March 2025 executive order creating the Strategic Bitcoin Reserve, mandating that forfeited Bitcoin 'shall not be sold' and must be maintained as a reserve asset.
- Bitcoin prices fell roughly 2% following the transaction, while BNB assets remain subject to Treasury management strategies unlike those held in the reserve.
- Market commentator Jose Rosell noted 'a transfer is not the same as a sale,' as officials have not announced liquidation of the roughly $28 billion in government-held cryptocurrency assets.
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Why did the US government send $71M in Bitcoin to Coinbase Prime?
US government linked wallets have transferred $103 million in Bitcoin and BNB, sending more than $71 million in BTC to Coinbase Prime as the transaction raises questions over whether the assets could be headed for a sale. According to on…
Portfolios associated with the U.S. government transferred 833.6 bitcoins, valued at more than 71 million dollars, on October 6. This first movement in six weeks concerns seized funds in the Bitfinex and HashFlare cases, but no data confirms their sale. The U.S. transfer Bitcoins seized in two cases appeared first on Cointribune.
U.S. government-linked wallets moved over $100 million in BTC and BNB; a sale was not confirmed
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