$100M of crypto just moved from U.S. government wallets. Do not panic.
Arkham data shows 833.6 BTC (about $71.6M) landed at Coinbase Prime deposit addresses on Tuesday. Another 40,285 BNB (about $31.6M) moved too โ traced to seized FTX/Alameda funds and the old Bitfinex hack coins.
My take: this is not a dump. Under the March 2025 executive order, forfeited Bitcoin is earmarked for the Strategic Bitcoin Reserve. The government still holds roughly $27.5 billion and has not spent a dime of taxpayer money on crypto. A transfer to Coinbase Prime is custody, not selling.
Which part scares people more โ the move itself, or that Uncle Sam is now one of the biggest BTC holders alive? ๐
$BTC $BNB
#Bitcoin #BNB #CryptoNews
DYOR
Arkham data shows 833.6 BTC (about $71.6M) landed at Coinbase Prime deposit addresses on Tuesday. Another 40,285 BNB (about $31.6M) moved too โ traced to seized FTX/Alameda funds and the old Bitfinex hack coins.
My take: this is not a dump. Under the March 2025 executive order, forfeited Bitcoin is earmarked for the Strategic Bitcoin Reserve. The government still holds roughly $27.5 billion and has not spent a dime of taxpayer money on crypto. A transfer to Coinbase Prime is custody, not selling.
Which part scares people more โ the move itself, or that Uncle Sam is now one of the biggest BTC holders alive? ๐
$BTC $BNB
#Bitcoin #BNB #CryptoNews
DYOR
