U.S. Government Transfers $1 Billion in Bitcoin from Seized Wallets
- 12,267 bitcoin (approximately $1.01 billion) were moved on Thursday.
- The funds originated from a wallet linked to the Bitfinex hack in 2016.
- No exchange deposits were recorded, indicating potential wallet reshuffling rather than sales.
- Prior to this transfer, approximately $264 million in bitcoin and $119 million in USDT were deposited at Coinbase Prime.
- The U.S. government currently holds about $25.5 billion worth of cryptocurrency.
This significant transfer of seized bitcoin reflects ongoing management of assets acquired through legal actions, with no immediate plans for sale indicated by the lack of exchange activity.
The U.S. government’s movement of over $1 billion in bitcoin emphasizes its strategy to hold rather than liquidate these assets, as seen with previous transfers from the Bitfinex hack wallet.(Source)
