Key facts
- The U.S. government transferred 9,261 Bitcoin worth $770 million to Coinbase Prime.
- The funds originated from previous cryptocurrency exploits, including the Bitfinex hackers and Binance seizures.
- An additional 2,456 BTC were from previously unknown holdings identified as new law enforcement seizures.
- Coinbase Prime has been the custody provider for seized crypto assets for the U.S. Marshals Service since 2024.
- A March 2025 executive order from U.S. President Donald Trump specified that seized Bitcoin should not be sold and should form part of the country's Strategic Bitcoin Reserve.
The U.S. government has transferred 9,261 Bitcoin, valued at approximately $770 million, to Coinbase Prime over the past two days. These assets stem from previous cryptocurrency exploits, with portions recovered from the Bitfinex hackers and known Binance seizures, according to Galaxy Research. An additional 2,456 Bitcoin originated from previously unknown holdings, indicating potential new law enforcement seizures. Coinbase Prime has been utilized by the U.S. Marshals Service as its custody provider for seized assets since 2024. While past movements of government-labeled wallets have fueled speculation about potential sales, a liquidation would contradict a March 2025 executive order by U.S. President Donald Trump, which mandates that seized Bitcoin be held as part of the country's Strategic Bitcoin Reserve. Cointelegraph has reached out to the U.S. Marshals and the Department of Justice for comment.