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The US government moved 9,261 Bitcoin worth $770 million to Coinbase Prime over a two-day window, according to Cointelegraph. Galaxy Research said in a Thursday post on X that half of the transferred Bitcoin was recovered from the Bitfinex hackers and another portion came from Binance seizures. An additional 2,456 BTC originated from previously unknown holdings sent to the government’s seizure address on Coinbase Prime, which Galaxy said could represent new law enforcement seizures.
Cointelegraph reported that Coinbase Prime has served as the custody provider for seized assets used by the US Marshals Service since 2024. The on-chain record shows the government continues to recover crypto tied to earlier exploits. Cointelegraph contacted the US Marshals and the Department of Justice for comment on the transfers.
Also read: US Government Moves $1.01B in Seized Bitfinex Bitcoin to New Wallet
Key facts
- 9,261 Bitcoin worth $770 million was moved by the US government to Coinbase Prime over two days, with half traced to the Bitfinex hackers and another portion from Binance seizures, according to Galaxy Research.
- 2,456 BTC from previously unknown holdings was sent to the government’s seizure address on Coinbase Prime and may represent new law enforcement seizures.
- Coinbase Prime has been the US Marshals Service’s custody provider for seized assets since 2024, and on July 7, 2026, the US government moved $297 million in Bitcoin and Ether to Coinbase Prime.
- Cryptobriefing reported that the US government also moved $470 million in Bitcoin and Tether to Coinbase Prime, including roughly 833.6 BTC valued at $71.6 million and about 40,285 BNB worth approximately $31.6 million on October 7, 2026.
- Blockonomi, citing on-chain analyst EmberCN, reported that the same wallets holding 833.6 BTC worth $71.56 million also moved 40,285 BNB valued at $31.63 million, part of a $103 million asset shift.
What the transfers included
Blockonomi reported that a wallet linked to the US government moved about $103 million in crypto, including the 833.6 BTC and 40,285 BNB. The Bitcoin went to Coinbase Prime, while the BNB moved through several addresses before reaching an address starting with 0xBE7 and ending in 81E, according to EmberCN. EmberCN estimated that US government-linked addresses still hold about $28 billion in digital assets, mostly Bitcoin, with roughly 324,000 BTC worth $27.7 billion.
Cryptobriefing noted that the appearance of Tether in the mix made the earlier transfer stand out, because earlier-reported government transfers did not include USDT even though government wallets hold significant amounts of the stablecoin. Cryptobriefing also said on-chain data from Arkham Intelligence tracked earlier shipments, including a mid-July 2026 batch of approximately $288-297 million in seized assets, mostly Bitcoin between 3,800 and 3,941 BTC valued at $244-250 million at the time. Some of those wallets were tied to cases involving Ryan Farace and Brian Krewson.
Also read: Satoshi-Era 100 BTC Moves After 16 Years, Worth $8.3M
Why it matters
The transfers put Coinbase Prime again at the center of one of the largest government crypto custody operations in the world. Coinbase Prime offers both custody and trading, so a transfer does not confirm a sale. Blockonomi reported that no federal agency announced a sale tied to the latest 833.6 BTC transfer, and confirming one would require more transaction data or a statement from the government or Coinbase. Cointelegraph noted that a sale would conflict with President Donald Trump’s March 2025 executive order specifying that seized Bitcoin should not be sold and should become part of the country’s Strategic Bitcoin Reserve.
The reserve policy covers Bitcoin specifically. Cryptobriefing noted that Tether, as a stablecoin designed to hold a steady dollar value, raises different questions when moved, and that managing assets outside the reserve’s no-sale protection could signal active portfolio management. Blockonomi reported that under the March 2025 order, Bitcoin that has been fully forfeited and placed in the reserve shall not be sold, while the order also created a separate US Digital Asset Stockpile for other cryptocurrencies such as BNB. Blockonomi added that the rule does not cover every coin in a government wallet, since some assets are tied to court orders or victim restitution.
Past transfers to Coinbase were sometimes followed by short-term price drops, per Blockonomi: in June 2024, authorities moved 3,940 BTC worth about $240 million and Bitcoin fell about 2%; in August 2024, another 10,000 BTC worth roughly $594 million went to Coinbase Prime and Bitcoin dropped 3.6%, though the decline began before the funds arrived; in July 2024, a government wallet moved about $2 billion in Bitcoin and the price fell around 1%; and in December, another wallet moved nearly 20,000 BTC worth about $1.92 billion. The government has sold seized Bitcoin before, including 9,861 BTC tied to Silk Road for about $216 million in March 2023, later confirmed in a court filing.
This is not financial advice. Cryptocurrency markets are volatile and uncertain, and readers should verify information independently.
What to watch
Statements from the US Marshals Service and the Department of Justice, which Cointelegraph said it contacted for comment, would clarify whether any of the transferred Bitcoin was sold. Further on-chain tracking of Coinbase Prime addresses will help confirm whether the 2,456 BTC from previously unknown holdings reflects a new seizure or a consolidation of existing government wallets.
Reported by cointelegraph.com.
Sources: Cointelegraph, Cryptobriefing, Blockonomi