U.S. Government-Linked Wallets Move 17,733 Bitcoin to Coinbase Prime

U.S. government-linked addresses moved about 17,733 Bitcoin (BTC) to Coinbase Prime in early October, with most of the transfers appearing to reflect custody changes rather than open-market sales.

The government’s identified BTC holdings fell from 324,527 BTC to 306,795 BTC during the transfers. Including unmarked addresses believed to be under government control, the total movement may have reached about 21,500 BTC.

About 12,267 BTC was connected to the Bitfinex hack case. Those assets remain tied to an ongoing claims process, while Coinbase Prime serves as a custody provider for the U.S. Marshals Service.

A separate portion of roughly 1,200 BTC linked to the FTX and HashFlare cases may have been sold to fund cash compensation for victims. The transfers therefore do not, by themselves, establish that the U.S. government conducted a broad BTC liquidation.