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US moves about $470 million in seized crypto to Coinbase-linked wallets

Blockchain analytics firm Arkham said the transfers on Oct. 7 included Bitcoin, wrapped Bitcoin, and USDT, pointing to renewed scrutiny of whether seized holdings could be sold.

Reported · Written up by our desk · Market Structure

The US government transferred about $470 million worth of seized crypto to wallet addresses linked to Coinbase Prime, according to blockchain analytics firm Arkham Intelligence, reviving questions about whether the assets could be sold.

Arkham said the Oct. 7 transfers included Bitcoin, wrapped Bitcoin, and USDT, and it tied the holdings to seizures connected to the 2016 Bitfinex hack and Alameda Research, the trading firm previously controlled by FTX founder Sam Bankman-Fried.

The move drew additional attention because the article notes the destination puts the transaction under greater scrutiny after the Trump administration pledged to retain Bitcoin in the US Strategic Bitcoin Reserve and federal officials earlier this year rejected claims that seized coins had been quietly sold.

The update also comes about nine months after the US Marshals Service pushed back on reports that Washington had disposed of Bitcoin surrendered in the Samourai Wallet criminal case, according to the article.

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