U.S. Government-Linked Wallets Move $71.6 Million in Bitcoin to Coinbase

Wallets linked to the U.S. government transferred 833.6 Bitcoin (BTC) worth about $71.56 million to Coinbase Prime on Oct. 7, raising questions about whether the assets could enter the market, although no sale has been confirmed.

The same government-linked wallets moved 40,285 BNB valued at about $31.63 million through multiple addresses to one ending in 0xBE7…81E. The two transactions totaled roughly $103 million.

Coinbase Prime combines institutional custody with trading and settlement services. The U.S. Marshals Service selected the platform in 2024 to provide custody and advanced trading services for large-cap digital assets managed through federal forfeiture operations.

That arrangement means a transfer to Coinbase Prime can serve an administrative or custody purpose as well as support trading. Blockchain activity alone does not show whether officials ordered a sale of the Bitcoin.

A March 2025 executive order established the Strategic Bitcoin Reserve and says government Bitcoin deposited into it “shall not be sold.” The available transaction information does not establish whether these coins are part of that reserve or another federal asset-management program.