The United States government transferred 9,261 Bitcoin, valued at approximately $770 million, to Coinbase Prime over the course of two days. According to data shared by Galaxy Research in a Thursday post on X, the transferred funds stem from asset seizures tied to previous cryptocurrency exploits.
Half of the transferred Bitcoin was recovered from the Bitfinex hackers, while another portion originated from known Binance seizures. Additionally, 2,456 BTC came from previously unknown holdings sent to the government's seizure address on Coinbase Prime, which may represent new federal law enforcement seizures.
The onchain activity demonstrates that the government continues to recover crypto assets from prior exploits. Coinbase Prime has served as the custody provider for the US Marshals Service to handle seized assets since 2024.
While past movements from government-labeled wallets have fueled speculation regarding potential liquidations, any sale would conflict with an executive order issued by US President Donald Trump in March 2025. The order specified that seized Bitcoin must not be sold and should instead form part of a national Strategic Bitcoin Reserve.
Cointelegraph reached out to the US Marshals Service and the Department of Justice for comment regarding the transfers. In a previous instance in July, the US government moved $297 million in Bitcoin and Ether to Coinbase Prime from high-profile crypto seizures.
