Wallets believed to be associated with the U.S. government moved more than $100 million in cryptocurrency on Tuesday, according to blockchain‑analysis firm Arkham.
The government transferred 833.599 BTC, valued at roughly $71.6 million at the time, to two addresses that Arkham does not tag. Within a few hours, both of those addresses forwarded the coins to addresses Arkham identifies as Coinbase Prime deposit addresses.
In a separate transaction, a wallet labeled by Arkham as government‑controlled sent about 40,285 BNB, worth approximately $31.63 million, to an unlabeled address (0x7F68F63fB3A9CCCf352409603421E0A574FbAD90). That address then moved the entire amount to a second unlabeled address (0x6fB3Fe7b7E78AbB84CE007cBC7412C850B15A579).
The Bitcoin originated from two sources: the Potapenko/Turogin forfeited‑funds wallet (568.7 BTC) and assets seized in the Bitfinex hack (264.9 BTC). The Binance Coin came from funds confiscated from Alameda Research.
The government still holds roughly $27.5 billion in cryptocurrency, all of it obtained through enforcement actions. To date, it has not used taxpayer money to acquire new crypto holdings.
Such transfers often raise concerns about an imminent sale, but there is no indication that a sale is underway.
“A transfer is not the same as a sale. Under a March 2025 executive order, bitcoin forfeited to the government is intended to be held in a Strategic Bitcoin Reserve,” said market commentator Jose Rosell on X.
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