Wallets Attributed to U.S. Government Move $565.87 Million in Seized Crypto to Coinbase

Wallets attributed to the U.S. government moved about $565.87 million in seized cryptocurrency to Coinbase Prime on Oct. 7, shifting a large pool of digital assets into an institutional custody platform.

The transfers included 1,418 Bitcoin (BTC), valued at about $118.37 million, and 94.149 million Tether (USDT), worth roughly $94.15 million. The asset mix also included Wrapped Bitcoin (WBTC), with wallet labels tying portions of the holdings to the Bitfinex hack and FTX-Alameda forfeitures.

The transactions appeared in blockchain records at about 3:15 p.m. ET (19:15 UTC) on Oct. 7. The assets moved through government-attributed and intermediary wallets before reaching Coinbase Prime deposit addresses.

The transfers do not confirm a sale. Coinbase Prime provides institutional custody and trading services, so the movement may reflect custody consolidation or other asset management.

The activity follows a March 2025 executive order establishing a Strategic Bitcoin Reserve for certain forfeited BTC and a separate U.S. Digital Asset Stockpile for other government-held digital assets.