US government moves $297M in seized Bitcoin, Ether to Coinbase Prime
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The transfers have raised questions over Trump’s Bitcoin reserve pledge, though deposits to Coinbase Prime do not confirm an impending sale.
The US government moved nearly $300 million in seized Bitcoin and Ether to Coinbase Prime on Monday, renewing speculation that the assets could be sold.
Data from Arkham shows 3,940 Bitcoin (BTC) (worth $243.95 million) and 30,014 Ether (ETH) (worth $53.09 million) were sent to Coinbase Prime on Monday. The funds were linked to several high-profile US government crypto seizures.
“These coin movements were comprised of coins seized from ryan farace (“xanaxman”) and defunct crypto exchange btc-e,” said Galaxy Research head Alex Thorn, referring to the Bitcoin movements. The Ether is linked to Brian Krewson, an Oracle employee implicated in a $54 million crypto storage and money laundering scheme.
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