US government moves $297M in seized Bitcoin, Ether to Coinbase Prime
Summary
The US government moved nearly $300 million in seized crypto to Coinbase Prime on Monday: 3,940 BTC worth about $243.95 million and 30,014 ETH worth about $53.09 million. The Bitcoin was linked to seizures from Ryan Farace and the defunct exchange btc-e, while the Ether was tied to a case involving Brian Krewson and alleged money laundering. The transfers sparked speculation about a possible sale, but they do not prove one; Coinbase Prime also offers custody and other institutional services, so the move may have been for consolidation. A sale would appear to clash with Trump’s 2025 order to keep seized Bitcoin for the Strategic Bitcoin Reserve. Government-linked wallets are still estimated to hold about $20.6 billion in crypto.
