Coinbase · Bitcoin · Federal Reserve (FED) · Donald Trump · CryptoSlate
US government moves $470 million in seized crypto to Coinbase wallets, raising Bitcoin sale questions
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The US government moved about $470 million in seized crypto to likely Coinbase Prime addresses, according to Arkham, reviving questions over potential asset sales.
Key facts
- The US government moved about $470 million in seized crypto to likely Coinbase Prime addresses, according to Arkham, reviving questions over potential asset sales
- The government seized about 95,000 Bitcoin in 2022 from wallets controlled by Ilya Lichtenstein and Heather Morgan as part of the investigation into the Bitfinex hack
- On Oct. 7, blockchain analytics firm Arkham Intelligence said the transfers included Bitcoin, wrapped Bitcoin and USDT
- Arkham linked the transferred assets to seizures involving the 2016 Bitfinex hack and Alameda Research, the trading firm previously controlled by FTX founder Sam Bankman-Fried
Summary
01 Arkham said US wallets moved about $470 million in BTC, WBTC and USDT tied to the Bitfinex hack and Alameda to likely Coinbase Prime addresses. 02 The transfer revives scrutiny of how Washington handles seized crypto under Trump’s Strategic Bitcoin Reserve policy. 03 Coinbase movement does not prove a sale, leaving custody, restitution and liquidation as competing explanations. On Oct. 7, blockchain analytics firm Arkham Intelligence said the transfers included Bitcoin, wrapped Bitcoin and USDT.