US Government Transfers $770 Million in Seized Bitcoin to Coinbase Prime
- The US government moved a total of 9,261 Bitcoin (BTC) valued at approximately $770 million to Coinbase Prime.
- Of the transferred amount, 2,456 BTC came from newly discovered funds linked to federal law enforcement seizures.
- Half of the total Bitcoin was recovered from the Bitfinex hackers, while another portion was associated with known Binance seizures.
- The US Marshals Service has utilized Coinbase Prime for custody of seized assets since 2024.
- In July, the government transferred $297 million in Bitcoin and Ether (ETH) to Coinbase Prime from high-profile crypto seizures.
This transfer reflects ongoing efforts by the US government to recover cryptocurrency assets linked to past exploits, including significant seizures tied to hacking incidents and exchanges like Binance. The transactions highlight the government’s strategy under an executive order that mandates seized Bitcoin should not be liquidated but rather contribute to a Strategic Bitcoin Reserve.
The recent movement of over $770 million in seized Bitcoin underscores the government’s active role in managing cryptocurrency assets through platforms like Coinbase Prime. This follows earlier transfers totaling $297 million this past July. (Source)
