On Tuesday, wallets associated with the U.S. government moved over $100 million worth of cryptocurrency, including approximately $71.6 million in Bitcoin and $31.6 million in BNB, as reported by blockchain analytics firm Arkham.
Details of the Transfers
The transfer involved 833.599 BTC, valued at about $71.6 million, which was sent to two addresses that Arkham did not identify. Shortly after, these addresses forwarded the Bitcoin to addresses recognized by Arkham as Coinbase Prime deposit addresses.
Additionally, a different government-labeled wallet transferred around 40,285 BNB, equating to $31.63 million, to another unnamed address, 0x7F68F63fB3A9CCCf352409603421E0A574FbAD90. This address subsequently passed the entire amount to another unidentified address, 0x6fB3Fe7b7E78AbB84CE007cBC7412C850B15A579.
Source of the Assets
The Bitcoin originated from a wallet associated with forfeited funds from the Potapenko/Turogin cases (568.7 BTC) and coins obtained from the Bitfinex hack (264.9 BTC). The BNB was derived from assets confiscated from Alameda Research.
Despite these transactions, the government still possesses around $27.5 billion in cryptocurrencies, all acquired through enforcement actions, and has not utilized taxpayer funds for any new purchases.
While such movements often lead to speculation about potential sales, this does not seem to be the case in this instance. "A transfer is not the same as a sale. According to a March 2025 executive order, Bitcoin forfeited to the government is intended to be retained in a Strategic Bitcoin Reserve," noted market commentator Jose Rosell on X.