Have the Americans gotten hooked on moving coins this week?
The day before yesterday, around 3,200 $BTC went into Coinbase Prime. Yesterday, they moved another 12,267—about $1.01 billion—from the forfeiture wallet tied to the Bitfinex hack to a new, unlabeled address.
The good news is that this transfer has no record of being deposited at any exchange, and Coinbase Prime itself offers custody services, so a deposit doesn’t necessarily mean a sale;
what’s more, last March’s executive order states that forfeited $BTC should go into the Strategic Reserve and, in principle, shouldn’t be sold.
Classic Trump—so the reserve is funded entirely by forfeitures, huh.
The day before yesterday, around 3,200 $BTC went into Coinbase Prime. Yesterday, they moved another 12,267—about $1.01 billion—from the forfeiture wallet tied to the Bitfinex hack to a new, unlabeled address.
The good news is that this transfer has no record of being deposited at any exchange, and Coinbase Prime itself offers custody services, so a deposit doesn’t necessarily mean a sale;
what’s more, last March’s executive order states that forfeited $BTC should go into the Strategic Reserve and, in principle, shouldn’t be sold.
Classic Trump—so the reserve is funded entirely by forfeitures, huh.