The US government just moved $103M in crypto 👀
In a ~9-hour window, wallets linked to US authorities sent out:
• 833.6 $BTC (~$71.6M), straight to Coinbase Prime
• 40,285 $BNB (~$31.6M), through several hops to an unlabeled address (0xBE7…81E)
Should you panic? Probably not for BTC:
• These wallets still hold ~324,000 BTC (~$27.7B), so this is under 1% of the stack
• Executive orders restrict selling reserve Bitcoin
• Trackers read it as routine custody / consolidation
The BNB leg is the one to watch. Forfeited tokens can be handled more freely, and multi-hop routing to a fresh address sometimes comes before an exchange deposit.
Routine shuffle, or the first step toward a sell-off? 👇
#OnChain #CryptoNews #Bitcoin #BNB
In a ~9-hour window, wallets linked to US authorities sent out:
• 833.6 $BTC (~$71.6M), straight to Coinbase Prime
• 40,285 $BNB (~$31.6M), through several hops to an unlabeled address (0xBE7…81E)
Should you panic? Probably not for BTC:
• These wallets still hold ~324,000 BTC (~$27.7B), so this is under 1% of the stack
• Executive orders restrict selling reserve Bitcoin
• Trackers read it as routine custody / consolidation
The BNB leg is the one to watch. Forfeited tokens can be handled more freely, and multi-hop routing to a fresh address sometimes comes before an exchange deposit.
Routine shuffle, or the first step toward a sell-off? 👇
#OnChain #CryptoNews #Bitcoin #BNB
