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US Government Moves $1.5 Billion in Seized Bitcoin to Coinbase Prime
Original: U.S. Government Transfers $1.5 Billion in Seized Bitcoin to Coinbase Prime
The United States government has transferred roughly $1.5 billion worth of seized Bitcoin to Coinbase Prime, the institutional custody arm of the cryptocurrency exchange. Large on-chain movements of confiscated crypto are closely watched by traders, since transfers like this often precede government sales that can pressure Bitcoin's price.
Why now: Observers fear a possible government sell-off could affect Bitcoin's price, making the transfer market-moving news.
United States governmentCoinbase PrimeBitcoin
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