U.S. government moves $288 million in seized bitcoin, ether to Coinbase Prime
Coins from the Farace and BTC-e seizures moved through fresh wallets before landing on the exchange, despite president Donald Trump’s previous no-sell reserve order.
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Summary
- U.S. government wallets moved about $288 million in seized bitcoin and ether to Coinbase Prime on Monday, with ether going directly and bitcoin routed through fresh intermediary wallets.
- The transfers appear to conflict with a March 2025 Trump executive order that directed seized bitcoin into a Strategic Bitcoin Reserve and barred its sale.
- While the Coinbase Prime movements may simply be for custody or internal shuffling, they are widely viewed as potential preparation for a sale, though they represent only a tiny fraction of the government’s roughly $20.65 billion crypto holdings.
