Current outcome
US government-linked wallets have moved Bitcoin on three consecutive nights, including 12,267 BTC on Oct. 8 (~$1.006 billion), of which 9,000 BTC (~$739 million) was traced to Coinbase Prime; earlier transfers included about 8,428 BTC on Oct. 7 and 834 BTC on Oct. 6 to Coinbase Prime. BTC fell to about $82,500 over the period. Whether the assets are for custody or eventual liquidation remains unconfirmed.
Progress timeline
4 material updates- #01
US government moves $470 million in seized crypto to Coinbase wallets, raising Bitcoin sale questions
Arkham reported that US government wallets moved about $470 million in seized Bitcoin, wrapped Bitcoin and USDT linked to the Bitfinex hack and Alameda to likely Coinbase Prime addresses, reviving speculation about potential government sales even though a sale is unconfirmed.
Source evidence: CryptoSlate · TradingView
- #02
🔍 链上侦探 | 美国政府凌晨持续转移大量加密资产，近32小时累计转出价值6.7亿美元代币
US government addresses continued transferring crypto over roughly 32 hours, with cumulative outflows around $670 million including 6,215.7 BTC (~$520 million), 119 million USDT and 40,285 BNB (~$31.63 million), with the BTC and USDT routed into Coinbase Prime.
State after update: US government-linked addresses continued moving large amounts of crypto to Coinbase Prime and other addresses, with about $670 million transferred over roughly 32 hours across BTC, USDT and BNB, fueling unconfirmed speculation about potential sales.
Source evidence: theblockbeats
- #03
🔍 链上侦探 | 美国政府地址再次转移12267.02枚BTC，约10.06亿美元
A US government address tied to seized Bitfinex hacker funds transferred an additional 12,267.02 BTC (~$1.006 billion), with 6,000 BTC split into a new address 33pYK…cFk and the remaining ~6,267 BTC held in another new address; this follows the earlier ~$670 million in BTC, USDT and BNB routed into Coinbase Prime.
State after update: After earlier routing roughly $670 million into Coinbase Prime, US government-linked addresses moved an additional 12,267.02 BTC (~$1.006 billion), with 6,000 BTC sent to a new address and about 6,267 BTC held in another new address; whether this is for custody or eventual liquidation remains unconfirmed.
Source evidence: theblockbeats · foresightnews · wublockchainenglish · Cointelegraph
- #04
US government moves another $1 billion in Bitcoin as BTC slides $4,000
The same Oct. 8 transfer of 12,267 BTC was further traced: 9,000 BTC (~$739 million) reached Coinbase Prime, and the activity formed three consecutive nights of government-linked Bitcoin outflows; Galaxy also reported roughly 8,428 BTC to Coinbase Prime on Oct. 7 and 834 BTC the previous day.
State after update: US government-linked wallets have moved Bitcoin on three consecutive nights, including 12,267 BTC on Oct. 8 (~$1.006 billion), of which 9,000 BTC (~$739 million) was traced to Coinbase Prime; earlier transfers included about 8,428 BTC on Oct. 7 and 834 BTC on Oct. 6 to Coinbase Prime. BTC fell to about $82,500 over the period. Whether the assets are for custody or eventual liquidation remains unconfirmed.
Source evidence: CryptoSlate