Federal Authorities Send 9,261 BTC to Coinbase Prime Account
The U.S. government moved 9,261 Bitcoin, worth about $770 million, to a Coinbase Prime account over two days. Blockchain data cited by Galaxy Research indicates about half came from Bitfinex hack recoveries, with other funds tied to Binance seizures and 2,456 BTC from previously unidentified holdings. Coinbase Prime has served as the Marshals Service's custody provider for seized digital assets since 2024, while a 2025 executive order directed seized Bitcoin toward a strategic reserve rather than sale.
The transfer involved 9,261 BTC valued near $770 million and occurred across two days. Galaxy Research, examining blockchain records, attributed roughly half to recoveries from the Bitfinex hack, with another share linked to Binance seizures. A further 2,456 BTC came from holdings not previously identified and may reflect fresh enforcement seizures.
Coinbase Prime has handled custody for U.S. Marshals Service seized digital assets since 2024. A March 2025 executive order said confiscated Bitcoin should enter the Strategic Bitcoin Reserve instead of being sold. In July, about $297 million in Bitcoin and Ether moved to Coinbase Prime from other major case seizures.
The transfer may influence how markets interpret government-held Bitcoin, as custody changes can prompt speculation about sales or reserve policy. Taxpayers and crypto investors could be affected if enforcement proceeds are managed differently, while people tied to the underlying cases may watch how recovered assets are handled. Coinbase’s custody role may also raise questions about concentration and transparency in public asset management, though the move alone does not confirm a sale or policy shift.