U.S. Government Moves $103 Million in Seized Bitcoin and BNB, Sending BTC to Coinbase Prime
By Unchained
AI summary of the source article
Wallets linked to the U.S. government moved $103.19 million in seized and forfeited cryptocurrency on Tuesday. The transactions included sending 833.599 BTC worth $71.56 million to institutional platform Coinbase Prime, and 40,285 BNB valued at $31.63 million to a fresh wallet. Onchain Lens and Arkham data tied the Bitcoin to the Bitfinex hack and the HashFlare fraud case involving Sergei Potapenko and Ivan Turõgin, while the BNB was linked to seized FTX and Alameda funds. Although Coinbase Prime offers trading, no sale was announced, and a March 2025 executive order restricts sales of government bitcoin deposited into the Strategic Bitcoin Reserve.
Why it matters
A deposit to institutional platform Coinbase Prime does not confirm an asset sale, and a March 2025 executive order specifies that government bitcoin placed into the Strategic Bitcoin Reserve cannot be sold.
Key facts
- U.S. government wallets moved $103.19 million in crypto, sending 833.599 BTC ($71.56 million) to Coinbase Prime and 40,285 BNB ($31.63 million) to a new wallet.
- The transferred funds were tied to forfeitures from the Bitfinex hack, HashFlare operators Potapenko and Turõgin, and FTX/Alameda.
- No sale was announced, and an executive order mandates that bitcoin deposited into the Strategic Bitcoin Reserve shall not be sold.