The U.S. government moved approximately $565.87 million in seized cryptocurrencies to Coinbase Prime over several hours on October 7th, according to blockchain analytics platform Onchain Lens. The transfers included 94.15 million Tether (USDT) from bankrupt crypto exchange FTX and its trading arm Alameda Research, as well as 3,974 Bitcoin (BTC) (worth about $329.95 million) related to the 2016 Bitfinex hack. Additional transactions involved 657.92 BTC, 750.19 Wrapped Bitcoin (WBTC), and 24.89 million USDT, also linked to FTX/Alameda assets. While some crypto went through newly minted addresses, the largest portion originated from the Bitfinex hack. Moving assets to Coinbase Prime does not necessarily indicate an imminent sale, as the platform was selected by the U.S. Marshals Service in 2024 for custody and advanced trading of its digital assets portfolio. The U.S. government has not publicly disclosed the purpose of these specific transactions.