US Government Moves $470M in Seized Crypto to Coinbase Prime
Arkham flagged US government wallets sending about $470M in $BTC, WBTC and $USDT to likely Coinbase Prime deposit addresses. The funds are tied to the Bitfinex hack and Alameda Research seizures. Earlier this week, 833.6 BTC also went to Coinbase Prime and 40,285 $BNB was moved. No agency has announced a sale, and Coinbase Prime is also the government's custodian. Is sell pressure coming, or is this just custody housekeeping?
#Bitcoin #OnChain #CryptoNews
Arkham flagged US government wallets sending about $470M in $BTC, WBTC and $USDT to likely Coinbase Prime deposit addresses. The funds are tied to the Bitfinex hack and Alameda Research seizures. Earlier this week, 833.6 BTC also went to Coinbase Prime and 40,285 $BNB was moved. No agency has announced a sale, and Coinbase Prime is also the government's custodian. Is sell pressure coming, or is this just custody housekeeping?
#Bitcoin #OnChain #CryptoNews