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US Government Moves $770M of Seized Bitcoin to Coinbase Prime
Galaxy Research said nearly half the transfer came from Bitfinex hack recoveries, while 2,456 BTC may be newly identified law enforcement seizures.
- On Wednesday and Thursday, the US government transferred 9,261 Bitcoin worth $770 million to Coinbase Prime, combining assets from different federal seizure cases tracked by Galaxy Research.
- Galaxy identified nearly half the transferred funds as recovered from the 2016 Bitfinex hack, while other portions linked to Binance seizures and 2,456 BTC from previously unknown sources may represent new law enforcement seizures.
- The U.S. Marshals Service selected Coinbase Prime in 2024 to provide custody and advanced trading services for assets managed through the federal forfeiture system, rather than executing market sales.
- President Donald Trump established the Strategic Bitcoin Reserve through a March 6, 2025 executive order, stating that Bitcoin deposited into the reserve "shall not be sold" and should remain a U.S. reserve asset.
- Restitution proceedings for Bitfinex victims provide a legal pathway for moving assets without violating the reserve's no-sale policy, as the government continues recovering crypto from prior exploits.
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20 Articles
20 Articles
Bitcoin Transfer Shifts $770M From U.S. Government Wallets To Coinbase Prime
The U.S. government transferred about 9,261 BTC worth $770 million to Coinbase Prime over two days. Galaxy Research linked much of the Bitcoin to federal seizure cases, while the movement itself did not confirm a market sale.
Coverage Details
Total News Sources20
Leaning Left0Leaning Right0Center2Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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