US government moves $470 million in seized crypto to Coinbase wallets, raising Bitcoin sale questions
Arkham reported that the US government transferred about $470 million in seized Bitcoin, wrapped Bitcoin and USDT to addresses likely associated with Coinbase Prime. The assets are linked to the Bitfinex hack and Alameda Research, but the transfer does not establish that they were sold; custody changes or administrative handling are also possible. The move draws attention because President Trump’s Strategic Bitcoin Reserve order says reserve Bitcoin should not be sold, while allowing disposals for court orders, victim restitution and other legal obligations. The Bitfinex-related assets face forfeiture and restitution claims, and FTX-related funds may also be used to compensate victims. The assets’ next movements will help clarify whether the transfer was a sale, a custody change or a legally permitted distribution.
