K33: U.S. government’s 17,733 BTC transfer likely custody-related, not a sale
K33 Research reported that wallets linked to the U.S. government transferred approximately 17,733 BTC to Coinbase Prime in early October, including 12,267 BTC related to the Bitfinex hack. Assets labeled as government-held fell from 324,527 BTC to 306,795 BTC. Including suspected but unlabeled government wallets, the total transferred may have reached 21,500 BTC.
K33 said most of the transfers likely involved custody arrangements rather than sales, as Coinbase Prime serves as custodian for the U.S. Marshals Service and the Bitfinex assets are still subject to a claims process. However, approximately 1,200 BTC related to the FTX and HashFlare cases may have been sold to fund cash compensation for victims.
K33 Research reported that wallets linked to the U.S. government transferred approximately 17,733 BTC to Coinbase Prime in early October, including 12,267 BTC related to the Bitfinex hack. Assets labeled as government-held fell from 324,527 BTC to 306,795 BTC. Including suspected but unlabeled government wallets, the total transferred may have reached 21,500 BTC.
K33 said most of the transfers likely involved custody arrangements rather than sales, as Coinbase Prime serves as custodian for the U.S. Marshals Service and the Bitfinex assets are still subject to a claims process. However, approximately 1,200 BTC related to the FTX and HashFlare cases may have been sold to fund cash compensation for victims.