U.S. Government Transfers Seized Bitcoin to Coinbase Prime
- The U.S. government transferred approximately 2.44 BTC, worth over $177,000, to Coinbase Prime on April 10, linked to Glenn Olivio.
- Arkham Intelligence tracked the transfer, which is just a small fraction (0.0007%) of the government’s total holdings of around 328,369.55 BTC.
- The transfer was executed in two transactions—one for approximately 1.9785 BTC and another for about 0.4596 BTC.
- Under Trump’s Strategic Bitcoin Reserve order, seized bitcoin is held long-term rather than sold.
- The U.S government also reportedly holds around 62,742 ETH, valued at $140.76 million.
This transfer marks a rare movement of seized digital assets by the U.S government, reflecting ongoing activity in consolidating assets from various cases such as those involving Chen Zhi and Ross Ulbricht.
(Source)
