US Government Moves $71M in Bitcoin to Coinbase Prime

TLDR

• US government linked wallets moved 833.6 BTC worth $71.56 million to Coinbase Prime, according to EmberCN.
• The same wallets also moved 40,285 BNB worth $31.63 million through several addresses.
• A transfer to Coinbase Prime does not confirm a sale, since the platform offers both custody and trading.
• Bitcoin placed in the Strategic Bitcoin Reserve cannot be sold under a March 2025 executive order.
• No federal agency has announced a sale connected to the latest transfer.

A wallet linked to the US government has moved about $103 million in crypto, according to on-chain analyst EmberCN. The transfers included 833.6 BTC worth $71.56 million and 40,285 BNB valued at $31.63 million.

The Bitcoin was sent to Coinbase Prime. The BNB moved through several addresses before reaching an address starting with 0xBE7 and ending in 81E.

EmberCN estimates that US government linked addresses still hold about $28 billion in digital assets. Most of that is Bitcoin, with roughly 324,000 BTC worth $27.7 billion.

Does the Transfer Mean a Bitcoin Sale?

The move to Coinbase Prime has raised questions about a possible sale, since the platform can carry out trades. However, the on-chain data does not confirm that any coins were sold.

The US Marshals Service chose Coinbase Prime in July 2024 for custody and trading of large digital assets seized in federal cases. Assets sent there can be stored or traded.

A similar question came up in July, when government wallets moved nearly $297 million in seized Bitcoin and Ether to Coinbase Prime. No sale was ever confirmed from those transfers.

President Donald Trump signed an executive order in March 2025 that created the Strategic Bitcoin Reserve. It also set up a separate US Digital Asset Stockpile for other cryptocurrencies.

Under the order, Bitcoin that has been fully forfeited and placed in the reserve “shall not be sold.” The rule does not cover every coin in a government wallet, since some assets are tied to court orders or victim restitution.

Other cryptocurrencies, such as BNB, can go into the Digital Asset Stockpile. There, the Treasury secretary can decide how to manage them under existing law.

How Bitcoin Reacted to Past Government Transfers

Earlier government transfers to Coinbase were sometimes followed by short-term price drops. In June 2024, authorities moved 3,940 BTC worth about $240 million, and Bitcoin fell about 2%.

In August 2024, another 10,000 BTC worth roughly $594 million went to Coinbase Prime. Bitcoin dropped 3.6%, though the decline began before the funds arrived.

In July 2024, a government wallet moved about $2 billion in Bitcoin, and the price fell around 1%. In December, another wallet moved nearly 20,000 BTC worth about $1.92 billion.

The government has sold seized Bitcoin before. In March 2023, officials sold 9,861 BTC tied to Silk Road for about $216 million, which was later confirmed in a court filing.

In June, government wallets moved seized FTX and Alameda assets worth nearly $984,000, with at least $768,000 reaching Coinbase Prime. Arkham said those funds were meant to help repay FTX creditors.

No federal agency has announced a sale tied to the latest 833.6 BTC transfer. Confirming a sale would require more transaction data or a statement from the government or Coinbase.

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