U.S. Government-Linked Wallet Moves $670 Million in Crypto

A wallet linked to seized U.S. government assets moved about $670 million in digital assets over 32 hours, including Bitcoin, Tether and BNB, in a transaction flow that does not confirm a sale.

The transfers totaled 6,215.7 Bitcoin (BTC), $119 million in Tether (USDT) and 40,285 BNB, valued at about $31.63 million. About 5,382.1 BTC, worth roughly $448 million, was sent to Coinbase Prime.

All of the reported Bitcoin and USDT moved to Coinbase Prime, an institutional trading and custody platform. The destination of the BNB was not specified, and the transfers could reflect custody, consolidation or transaction management rather than a completed sale.

The activity coincided with elevated long-term U.S. borrowing costs. The 30-year Treasury constant-maturity yield stood at 5.67% in official daily data for Oct. 7. That daily figure does not confirm an intraday reading of 5.711% or establish that the yield reached its highest level since 2002.

The controlling government agency and the exact transaction timestamps were not identified.