The U.S. government transferred $470 million worth of seized cryptocurrency to a Coinbase wallet, sparking market speculation about a potential sale.
Blockchain analytics firm Arkham Intelligence reported that on October 7, the U.S. government transferred approximately $470 million in seized cryptocurrencies, including Bitcoin, Wrapped Bitcoin, and USDT, to an address likely belonging to Coinbase Prime. These assets are linked to the 2016 Bitfinex hack and the seizure of Alameda Research assets. This transfer has once again raised questions in the market about the U.S. government potentially selling Bitcoin, despite previous denials of selling Bitcoin seized in the Samourai Wallet case and the Donald Trump administration's commitment to include Bitcoin in the U.S. strategic Bitcoin reserve, not for sale. However, this policy allows for the disposition of digital assets under circumstances such as court orders, legal requirements, or the need to return them to victims.
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