finance
U.S. government moves $288 million in seized bitcoin and ether to Coinbase Prime
Wallets linked to prior seizures transferred roughly $288 million in bitcoin and ether to Coinbase Prime on Monday. The transfers occurred despite a March 2025 executive order directing seized bitcoin into a Strategic Bitcoin Reserve and barring its sale.
Jul 14, 2:28 AM·1m read2 sources
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U.S. government wallets transferred about $288 million in seized bitcoin and ether to Coinbase Prime on Monday. Blockchain data showed the ether moved directly while the bitcoin passed through intermediary wallets that were later emptied. The transfers involved coins from two prior seizures.
One wallet connected to the Ryan Farace case sent 2,875 BTC worth roughly $178 million through a new address to Coinbase Prime. A second wallet tied to the defunct exchange BTC-e moved 925.512 BTC worth $57 million through the same pattern. A separate wallet linked to Brian Krewson sent 30,007 ETH worth $53.09 million directly to a Coinbase Prime deposit address.
An additional 140.214 BTC moved between government Coinbase Prime addresses and a Coinbase cold wallet, consistent with internal shuffling.
Background on the executive order A March 2025 executive order by President Donald Trump designated seized bitcoin for a Strategic Bitcoin Reserve and directed that it should not be sold. The recent movements represent a small fraction of the government's total crypto holdings, which stand at roughly $20.65 billion including 324,552 BTC, 28,394 ETH and 145.549 million USDT.
Coinbase Prime provides custody, financing and staging services in addition to trading. Exchange movements are often viewed as preparation for a sale, though the data does not confirm any sale occurred.
