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US government transfers $297M seized BTC and Ether to Coinbase Prime

Cointelegraph reports the move sent 3,940 Bitcoin and 30,014 Ether, worth about $297.0 million, to Coinbase Prime custody, renewing questions about whether any sale could follow.

Reported · Written up by our desk · Market Structure

Cointelegraph reports the US government moved nearly $300 million in seized Bitcoin and Ether to Coinbase Prime on Monday, prompting renewed speculation that the assets could be sold.

According to data cited by Cointelegraph from Arkham, the transfers included 3,940 BTC worth $243.95 million and 30,014 ETH worth $53.09 million, routed to Coinbase Prime.

Cointelegraph says the Bitcoin and Ether were linked to prior US government crypto seizure activity, including coins seized from an individual identified as ryan farace (“xanaxman”) and activity tied to a defunct crypto exchange, with the Ether linked to Brian Krewson in a separate case.

While the transfers have reignited debate about consistency with a March 2025 executive order stating seized Bitcoin should be part of a Strategic Bitcoin Reserve and not sold, Cointelegraph notes Coinbase Prime deposits do not confirm a sale because the platform provides custody and other institutional services; it also cites earlier transfers to Coinbase Prime and estimates that government-linked wallets still hold $20.6 billion in crypto.

Latest closeBitcoin $63,758.22 ▼0.1%|Ethereum $1,805.79 ▲1.0%

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