The U.S. government has moved about $470 million in crypto, including $BTC, WBTC and USDT, to addresses believed to be connected to Coinbase Prime, according to on-chain tracking.
Coinbase Prime has been used by the U.S. Marshals Service for custody and trading of seized digital assets, so the transfer puts a large government-linked crypto balance into an institutional platform.
The government still holds a large crypto portfolio, with Arkham estimating roughly 325,000 BTC plus about $126 million in USDT and $63 million in WBTC.
It's latest movement of those coins could relate to custody, asset management or a potential future transaction, but there is no confirmed evidence yet that the BTC or any coin was sold.
#BTC Correction Incoming?# #Macro Insights#
Coinbase Prime has been used by the U.S. Marshals Service for custody and trading of seized digital assets, so the transfer puts a large government-linked crypto balance into an institutional platform.
The government still holds a large crypto portfolio, with Arkham estimating roughly 325,000 BTC plus about $126 million in USDT and $63 million in WBTC.
It's latest movement of those coins could relate to custody, asset management or a potential future transaction, but there is no confirmed evidence yet that the BTC or any coin was sold.
#BTC Correction Incoming?# #Macro Insights#